Tax Sheltered Annuities & Savings Bond Program

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Category Name: Human Resources
Responsible Unit: Office of Human Resources
Responsible VP: VP for Administration and Finance
Adoption Date: Unavailable
Last Revision Date:
Last Review Date:
Shared governance: none

Policy Statement

Purpose/Scope

Applicability

Definitions

There are no definitions for this policy at this time.

Policy Procedures

Tax Sheltered Annuities

Several tax sheltered programs are now available to employees depending on their negotiating unit. Tax sheltered programs allow employees to enter into an agreement with their employer to reduce their salaries and have the amount of reduction contributed to a retirement annuity account. Funds so contributed are before tax dollars and employees do not have to pay taxes on these earnings until they actually start drawing them out of the annuity account at retirement. 

Savings Bond Program

The College participates in the Payroll Savings Bond.

Links to Related Procedures and Information

There are no links for this policy at this time.

Contact Information

For details on tax sheltered savings programs, contact the Benefits Officer.

For information on the Savings Bond Program enrollment cards and descriptive brochures, contact the Personnel Office.

History (in descending order)

Item Date Explanation
Next Review Date December 1, 2017 Three year review
Adoption Date Unavailable Policy Adopted

Approval

Last Updated 10/27/20

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