Tax-Deferred Annuity (TDA)
A Tax-Deferred Annuity (TDA) Plan is a voluntary 403(b) retirement program that allows you to save additional income for retirement through pre-tax or Roth after-tax contributions. Contributions are made through payroll deductions and may be invested in mutual funds and also fixed or variable annuities with any one of the authorized vendors. There is no employer contribution with the 403(b) Tax-Deferred Annuity (TDA) Plan. Learn more below.
Who's Eligible?
All employees who normally work at least 1,000 hours per calendar year and are not student employees are eligible to contribute to a TDA.
Contribution Amounts
You can get started for as little as $200 a year and contribute up to the general limit ($20,500 for 2022) or 100% of your salary, whichever is less. In addition, you can contribute more if you are at least age 50 by year’s end or if you have worked for Texas State for at least 15 years. Contact Human Resources for more information regarding how much you can contribute.
How Do I Get Started
Contact a representative on the list of authorized vendors. Complete the account application and other documents the representative will have. The completed documents must come to Human Resources before the payroll deduction can begin. The effective date of your plan will always be the first day of the month following the date Human Resources receives the paperwork.
How do i make changes?
You can start or stop your account or change the amount of your contributions at any time during the year. You can also change the company your contributions are going to anytime. Contact Human Resources if you want to make changes to an existing account. If you want to change how your funds are being invested, contact your vendor directly.
Need Assistance?
If you have any follow-up questions about the program, please reach out to the Human Resources Benefits team at 5.2557.