TIAA-CREF 403B Plan
This is a supplemental retirement plan which provides employees with the opportunity to invest money on a before tax basis, using payroll deduction. Because your taxable income is reduced, you can invest money and defer taxes. The before tax aspect is what makes tax deferred annuities very attractive. Participants defer federal and state income tax on their contributions. In addition, interest or earnings on your account accumulates tax-deferred. No taxes are paid on the account until you begin withdrawing funds.
For more information about TIAA-CREF, please visit their home page at http://www.tiaa-cref.org.
You can also contact your TIAA-CREF agent, Mark DiGiovanni, at 1-504-644-5013 or email to mdigiovanni@tiaa-cref.org
EGTRRA (Economic Growth and Tax Relief Reconciliation Act) of 2002 allows for the following contribution limits on tax-deferred annuities for 2012: $17,000.00 per year, plus an additional $5500.00 additional for participants over age 50. An additional $3000 catch-up provision may also be available for those eligible.
Call (985)549-5655 for more information.