When am I eligible to contribute to a Supplemental Retirement Annuity (403b)?
Employees are eligible to begin SRA contributions immediately upon employment. Contributions can be started, adjusted and/or stopped at any time.
Is there a maximum amount that I can contribute?
Yes. Each year the IRS determines the maximum amount that an individual can contribute in a calendar year. The maximum contribution for calendar year 2009 is $15,500.00.
Is there any way I can contribute more that the maximum amount?
Yes, under specific circumstances. The IRS allows a “catch-up” contribution for individuals over the age of 50. In calendar year 2009, an additional $5,000.00 can be contributed.
There is also a provision for individuals who have worked at TCU for at least 15 years and have not contributed the maximum amount in the past. In calendar year 2009 up to an additional $3,000.00 can be contributed. Eligibility for this provision is not automatic. Contact your SRA vendor to determine if you can contribute under the 15 year rule.
Who are the vendors I can use for my SRA?
The participating vendors are:
American Century Investment Services
Fidelity Investments
Pension Fund of the Christian Church
Met Life
AIG/VALIC
TIAA-CREF
