Savings Plans

• Eligible employees may participate in an IRC 403(b) tax-sheltered annuity plan.
  
• Plan is administered by the CSU.
  
• Allows an employee to defer a maximum pre-tax deduction of $15,500 for 2008.
  
• There is no employer matching contribution.

Enrollment information:

• Select approved TSA Company (.pdf).
  
• Establish 403(b) account with TSA company, which will complete Certificate of Establishment of Account Form (.pdf).
  
• After the TSA company has signed the Certificate of Establishment of Account, complete the Salary Reduction Request Form (.doc) and return both forms to Human Resource Services.
  
• Employees age 50 or older, or with at least 15 years of CSU service, may be eligible for "catch up" provisions. You must complete and return to HR Services the Maximum Contribution Worksheet prior to participation.

• Eligible employees may participate in the IRC 401(k) Thrift Plan and the IRC 457 Deferred Compensation plans.
  
• Administered by the Department of Personnel Administration (DPA).
  
• Allows a maximum pre-tax deduction of $15,500 for the 401(k) plan and $15,500 for the 457 plan for 2007.
  
• There is no employer matching contribution.

Enrollment information:

• Log onto DPA Savings Plus Program official website to learn about the program.
• Verify your eligibility and enroll on-line.
• Enrollment and changes handled between employee and DPA.

Special Rules

• Special rules apply to employees who participate in more than one plan.
  
• Refer to following chart for summary of special rules: Chart » (.pdf)

Other Savings Plans

U.S. Savings Bonds

• Employees are eligible to purchase U.S. Savings Bonds (Series EE) through payroll deduction.
• The principal and interest due is paid when the bond is cashed.
• Bonds are sent to employees as they are purchased.
• Can be replaced if lost, stolen or destroyed.

Enrollment information:

• U.S. Treasury Website | Savings Bond FAQ
  
• Fill out Enrollment Form (.pdf) and return to Payroll.

Credit Union

• Ocean Crest, California Bear Credit Unions or LBS Financial Credit Unions offer checking, loan and savings programs.
• Membership applications are available in Human Resource Services.