Tax Sheltered Annuities

Full-time and part-time* employees are eligible.

*Excludes part-time athletic coaches, Specialized Professional Services (SPS) employees, and student employees.

LCC employees may enroll and participate in the tax sheltered annuity program at any time.

1. To establish an investment account, enroll with one of our investment companies. Contact the investment company representative to set-up an appointment or to gather more information.
2. After enrolling, you must complete a Salary Reduction Agreement form to begin voluntary, pre-tax contributions from your bi-weekly paycheck.

 

 

 

Salary Reduction Agreements will be made effective as of the first payroll period following submission to Payroll. You may select a percentage per pay or a dollar amount to be deducted from your paycheck.

A participant may file a modified or renewed Salary Reduction Agreement on a quarterly basis. A Salary Reduction Agreement may be terminated at any time.

• 457(b) Salary Reduction Agreement
• 403(b) Salary Reduction Agreement

All deductions will be transmitted to the appropriate investment company within two business days of a payday.

• Word FileLCC Tax Sheltered Annuity Program Summary Plan Description
• Word File2011 Amendment to 457(b) Plan
• Word File2011 Amendment to 403(b) Plan