TAX SHELTERED ANNUITIES AND 457 PLANS

Benefits effective first of the pay period following enrollment
Eligibility – Employees working at least 1,000 hours in a calendar year (excluding graduate assistants and student workers)
(Reference Policy 7.34)

Enrollment form, Beneficiary form and Salary Reduction form required.

The tax sheltered annuities and 457 Plans are available to eligible Employees. These plans allow employees to contribute additional funds for retirement savings on a pre-tax basis. Contributions are made by employees only; no contributions are made by the university to these plans. A list of vendors for these plans is available online at the NMSU benefits website. The minimum contribution is $15.00 per paycheck. The maximum contribution varies by employee. A worksheet is available online to assist employees with the calculation for maximum contributions.

TSA Guidelines and Vendors

NOTE: This is a summary description of benefits available to New Mexico State University employees. This document does not set a contractual commitment of benefits. If you have any questions concerning benefits, please refer them to the Benefit Services Department.

For more details on the benefit programs please refer to Chapter 7 of the NMSU policy manual.