Tax Sheltered Annuity (TSA) 403 (b)
Employees may contribute to tax sheltered annuities through various vendors approved by the Commonwealth of Massachusetts. The six providers available for the TSA 403(b) are:
- Fidelity Investments
- Lincoln Financial Group
- Voya Financial (formerly ING)
All employees may enroll in the TSA 403(b) plan any time during the year and may contact Human Resources for approved providers information including a Salary Reduction form. For more detailed information, please visit Massachusetts Department of Higher Education Savings Plans.
Massachusetts Deferred Compensation SMART Plan (457 Plan) - Voluntary Plan
Massachusetts Deferred Compensation SMART Plan (457 Plan) is a deferred compensation plan employees can contribute pre-tax contributions invested in employee selected investment options. For more detailed information or enroll visit Massachusetts Deferred Compensation SMART Plan (457 Plan).
EE Series Savings Bonds
EE Series Savings Bonds are available for purchase through bi-weekly payroll deduction in values of $100, $200, $500, and/or $1000. Forms are available through the Payroll office. For more detailed information, visit Massachusetts Department of Education Savings Bonds.
Massachusetts State Employee Credit Union
Massachusetts State Employee Credit Union is available for employees to contribute through payroll deductions or through the credit union. For more detailed information, please view Massachusetts Department of Education Credit Union.
U. Plan is a 529 Plan - Prepaid Tuition Program that allows employees to save for college through payroll deductions to a choice of 80 Massachusetts colleges and universities. For more information on the 529 plan, visit Massachusetts Department of Education U Plan.