Benefits

In addition to contributing to the mandatory retirement plans (CalPERS or PST), eligible employees can contribute to the following CSU-sponsored voluntary retirement savings plans:

• 403(b) Tax Sheltered Annuity Plan (administered by Valic)
  
  
• The Savings Plus Plan (administered by Nationwide Retirement Solutions)
  
  • 401(k) Thrift Plan
  • 457 Deferred Compensation Plan

The CSU 403(b) Tax Sheltered Annuity (TSA) Program is a voluntary program that allows eligible CSU employees to save toward retirement by investing pre-tax contributions in tax-deferred investments in either annuities or mutual funds, under Internal Revenue Code (IRC) Section 403(b). TSA contributions are made solely by the employee through payroll deductions, prior to federal and state taxes being calculated. Consequently, these pre-tax contributions result in reduced taxable income for participating employees.

The Savings Plus Plan (SPP) is a voluntary program that allows eligible state and CSU employees to save toward retirement by investing pre-tax contributions in tax-deferred investments, via two deferred compensation plans: a Thrift Plan (IRC 401(k)) and a Deferred Compensation Plan (IRC 457). These contributions are made through payroll deductions, prior to federal and state taxes being calculated.

Visit the CSU Benefits Portal for more information about the CSU’s Tax Sheltered Annuity program and The Savings Plus Plan.