All ACC employees can make additional retirement contributions by participating in the Voluntary Savings Program. Employees may contribute pre-tax or after-tax funds to the plan of their choice up to the defined annual IRS maximum. Participation in any plan is in addition to the mandatory State or required ACC retirement programs. There are no ACC matching contributions to these voluntary savings plans.
ACC currently offers the following voluntary savings plans under this program:
403(b) Tax-Sheltered Annuity (TSA)
Contributions to a traditional 403(b) TSA account are pre-tax deductions from your paycheck. Your income tax is reduced for every payroll contribution. Any earnings on your deposits are tax-deferred until withdrawn.
403(b) Tax Sheltered Annuity-Roth (TSA-Roth)
Contributions to a 403(b) TSA-Roth account are after-tax deductions from your paycheck. Income taxes are not reduced by contributions you make to your account. These contributions are subject to coordination with traditional TSA accounts. Any earnings on your deposits are not taxed as long as they remain in your account for five years from your first TSA-Roth contribution date. All qualified distributions from TSA-Roth accounts are tax-free.
457 Deferred Compensation
Contributions to a 457 Deferred Compensation account are pre-tax deductions from your paycheck. Your income tax is reduced for every payroll contribution. Any earnings on your deposits are tax-deferred until withdrawn.
Want to Learn More?
Along with our administrative partner, US Omni, and TSACG Compliance Services, we are excited to share a tailored site prepared specifically for the Austin Community College District. To visit the site, click here.
Valuable online resources located on this site include:
Annual Benefits Guide. Located in the Forms Section, this guide introduces employees to available plan options.
Plan Participation Guide. Located in the Forms Section, this guide provides instructions on how to enroll, make plan changes, and request distributions.
Meaningful Notice: Required Annual Notification
Salary Reduction Agreement (SRA) Processing Tool. This tool allows employees to set-up a contribution to a voluntary savings plan or change an existing contribution to a voluntary savings plan. The SRA authorizes ACC to withhold contributions from your pay and submit them to the Authorized Investment Provider of your choice.
Salary Reduction Agreement (SRA) Instruction Guide. This guide provides detailed instructions on how to use the SRA Processing Tool.
Authorized Investment Provider information. On the site, you may access authorized company sites by clicking on the company name. There is also contact information for local advisors for our Authorized Investment Providers in the List of Agents document in the Forms Section. These trained financial professionals can provide information on voluntary savings plans, and assist you with any questions.
Plan Document Approval Tool. US Omni and TSA Compliance Services offer a web-based system that allows participants and advisors to gain immediate approval certification for eligible distributions. Click here for detailed information on this service.
If you have questions about these plans, please submit a Mojo ticket here.
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