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Savings Plans

There are three kinds of tax deferred plans: 403(b), 401(k) and 457. The differences are outlined in the side-by-side comparison chart (.pdf).

Tax-Sheltered Annuity (TSA) Program 403(b)

  • Eligible employees may participate in an IRC 403(b) tax-sheltered annuity plan.
  • Allows an employee to defer a maximum pre-tax deduction of $17,500 for 2014
  • There is no employer matching contribution.
  • VALIC is the Master Administrator
  • There are five Fund Sponsors:

Enrollment Information

Catch-Up Allowance

  • Employees may be eligible for the 15-Year and/or Age 50 Catch-Up.
  • If an employee qualifies for both the 15-Year and Age 50 Catch-Up, the 15-Year Catch-Up must be exhausted before the Age 50 Catch-Up is applied.
  • Employees must demonstrate eligibility by completing and returning to HRS the CSU Maximum Contribution Allowance Worksheet.

Change or Reallocation of TSA Contributions

  • To change the amount you contribute or how your contributions are directed among the Fund Sponsors login to your account through Retirement Manager.
  • To reallocate your contributions within the Fund Sponsor’s investment options contact your Fund Sponsor.
  • The cutoff day to make changes in Retirement Manager is the 5th of each month by 9:59 p.m. Pacific Standard Time (PST) or the next business day by 9:59 p.m. if the 5th falls on a holiday or weekend.

Contract Exchanges, Loans and Hardship Withdrawals

Savings Plus Program 401(k) and 457

  • Eligible employees may participate in the IRC 401(k) Thrift Plan and the IRC 457 Deferred Compensation plans.
  • Administered by the Chancellor's Office Human Resources (COHR).
  • Allows a maximum pre-tax deduction of $17,500 for the 401(k) plan and $17,500 for the 457 plan for 2014.
  • There is no employer matching contribution.

Enrollment information:

Special Rules

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

Other Savings Plans

U.S. Savings Bonds

  • The U.S. Department of the Treasury is ending the sale of paper U.S. Savings Bonds through employer-sponsored payroll deduction plans, effective January 1, 2011.
  • CSU employees may purchase U.S. Savings Bonds directly through the TreasuryDirect website.

ScholarShare College Savings Plan

  • Eligible employees may participate in California's tax-advantaged 529 college savings plan.
  • The plan is sponsored by the ScholarShare Investment Board, an agency of the State of California, and is managed by TIAA-CREF.
  • Earnings in your ScholarShare plan account grow tax-deferred. When you withdraw money to pay for qualified education expenses, you pay no federal or California state income tax.
  • There is no employer matching contribution.
  • For more information or to enroll online visit www.ScholarShare.com.

Credit Union


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Human Resource Services
(562) 951-4070
Technical Contact:
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Last Updated: February 5, 2014