Any individual under a contract of hire with the University may participate in the 403(b) tax shelter program. The Internal Revenue Service (IRS) establishes General Limits each year and there are catch up options for those individuals age 50 or older. In 2008, the General limit is $15,500.00 annually and the age 50 and older catch up limit is an additional $5000.00.
The 403(b) program provides an excellent opportunity to invest pre-taxed dollars and can be an integral part of longer term financial and/or retirement planning.
The IRS regulations govern hardship withdrawals and loans from individual 403(b) plans. Individuals can participate in the 403(b) and also participate in the 457 (b) program outlined below at the same time.
Download and print a copy of the Salary Reduction/Cash Match Agreement:
To contact one of the four approved companies:
Company Name | Contact Person | Phone Number | Web Site |
TIAA-CREF | Contact TIAA-CREF | 1-800-842-2733 | |
Fidelity Investments | Contact Fidelity | 1-800-343-0860 | |
AIG Retirement | Brian McGuire | 540-633-5180 | |
Great West | Contact Great West | 1-800-879-3133 |
To view the 2008 Virginia Tech Retirement Counselor Calendar, please click below:
2008 Virginia Tech Retirement Counselor Calendar (DOC | 32KB)