MAXIMUM CASH MATCH INCREASES TO $20
Effective on the July 14 payday, eligible employees enrolled in a tax-sheltered annuity (with a corresponding Cash Match account) or the state's deferred compensation plan will automatically receive a cash match of 50 percent of their TSA/DCP contribution or $20, whichever is less.
An employee contributing $10 per payday to their TSA/DCP would receive a $5 per payday cash match, for example. A $40 or more contribution would earn the maximum $20 per payday cash match. Contributions of less than $10 per payday do not qualify for a cash match.
Those eligible for the Cash Match program include salaried employees (full-time faculty or full- or part-time classified staff) with 12 months of consecutive state service.
Employees enrolled in a TSA with MetLife, VALIC, Lincoln, Equitable or Waddell & Reed are advised to contact their company's TSA representative to change or increase their contribution. Those enrolled in a different company should call the Office of Human Resources at 683-3051
Employees who wish to start a tax-sheltered annuity may call one of the companies listed above.
This article was posted on: June 28, 2000
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