A tax-deferred annuity is a voluntary program adopted by employers to help their employees plan for retirement. Your tax-deferred annuity (403b) is one of the best optional retirement funding vehicles available today. Through payroll deduction, pre-tax dollars are invested in the account of your choice, reducing your current taxable income. Investment earnings accumulate and compound on a tax-deferred basis until you retire. The limit for deferral is currently $16,500 for employees under age 50 and $22,000 for employees age 50 and older.
To protect employees, administer an efficient plan, and provide plan oversight, the SIU Board of Trustees' policies and guidelines require plan providers to maintain a minimum rating of A+ from A.M. Best and minimum participation levels of 40 employees with $2,500 contributed monthly.
Beginning in 2007, employers were required to administer their plans with greater control and oversight. One component of this control requires employers to sign all loans, hardship withdrawals, rollovers, and transfers for current and past employees. In the past, no employer signature was necessary. Current and previous SIUE employees will now need the employer's signature to complete these transactions.
SIUE SUPPLEMENTAL RETIREMENT (403b) PLAN SUMMARY 
SIUE SUPPLEMENTAL RETIREMENT (403b) PLAN
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SUPPLEMENTAL RETIREMENT PLAN SALARY REDUCTION AGREEMENT FORM (403b)
