A Matter of Health Newsletter: April 2009

Retirement Corner

Tax Savings Opportunities Increase with 2009 Limits

If you’re looking for a way to lower your taxable income while saving for your retirement, significant tax savings are available to you right now through your UTSaver 403(b) Tax Sheltered Annuity (TSA) and UTSaver 457(b) Deferred Compensation Plan (DCP).
All employees can contribute to either of these retirement plans for as little as $20 a month or choose a higher contribution rate. Either way you save on your taxes and you save for your future.

The base Limit for both the TSA and DCP increased to $16,500.00.
Employees age 50 or older can contribute an additional $5,500.00.
Employees with 15 or more years of service may be able to contribute an additional $3,000 to the TSA plan.
Employees who are within the last three years before retirement, may be able to contribute up to $33,000 in the DCP plan.

Saving a little or a lot will make a difference for your future while helping your tax bill.
Limits may vary based on your individual circumstances. Please contact your benefits office at www.utsystem.edu/benefits/contacts/#1 for a personal limit calculation.

Contact Us

If you have a Benefits question, submit your question by replying to the “newsletter email” or by sending an email to benefits@utsystem.edu.

UT System Employee Benefits Web site: www.utsystem.edu/benefits/
UT System Retirement Programs Web site: www.utretirement.utsystem.edu
Your Local Benefits Office: www.utsystem.edu/benefits/contacts/#1