All University of Alaska employees, including students, adjuncts and other part-time workers, are eligible to participate in a tax-deferred annuity (IRS Section 403(b) plan). A tax-deferred annuity (TDA) offers employees the opportunity to make tax-deferred contributions into a supplemental retirement account. When combined with other retirement programs, a tax-deferred annuity enhances your ability to provide a solid financial foundation for retirement years.
IRS Information on TDAs - Publication 571 (off-site)
Maximum Allowable Contribution
The Internal Revenue Service places limits on the maximum allowable contributions to a tax-deferred annuity. The participant is urged to seek appropriate advice prior to electing to participate. The amount of allowable contributions and additional information about tax-deferred annuities are contained in the Tax-Deferred Annuity Salary Reduction Agreement Form (pdf).