Tax-Sheltered Investment Program 403(b)
Full-time and part-time regular employees are eligible to participate in a tax-sheltered investment program authorized under Section 403(b) of the Internal Revenue Code through payroll deduction. The 403(b) program provides employees with the means for setting aside a portion of their current earnings for retirement and having that amount removed from current taxable income. At retirement, when employees receive the benefits from the tax-sheltered investment, they must include those payments as taxable income.
Employees interested in participating in a 403(b) tax-sheltered investment program should contact an agent affiliated with a company that has been approved to offer annuity policies to State Technical College of Missouri employees. A list of companies presently approved to offer such tax-sheltered investment programs for the College is available from Human Resources. The College does not endorse any particular policy or company.
Eligible employees may, on a voluntary basis, begin participation in this Plan on the first day of the month following employment at the College or on the first day of any following month after the enrollment forms are completed and returned to Human Resources.