{"id":289,"date":"2014-07-15T00:25:16","date_gmt":"2014-07-15T00:25:16","guid":{"rendered":"https:\/\/www.jsums.edu\/staffhandbook\/?page_id=289"},"modified":"2014-07-15T00:25:16","modified_gmt":"2014-07-15T00:25:16","slug":"3-2-4tax-sheltered-annuities-403bretirement-plan","status":"publish","type":"page","link":"https:\/\/www.jsums.edu\/staffhandbook\/3-2-4tax-sheltered-annuities-403bretirement-plan\/","title":{"rendered":"3.2.4\tTax Sheltered Annuities 403(b)\/Retirement Plan"},"content":{"rendered":"<div style=\"text-align: justify\">\n\tThe Internal Revenue Service Code 1954, as amended in Section 403(b) allows an employee to take advantage of certain tax advantages by excluding a portion of his\/her gross salary to purchase an annuity for retirement purposes.&nbsp; The plan defers taxes on the income and the growth of the income until the monies are withdrawn from the program.&nbsp; Once the funds are withdrawn, the funds are treated as ordinary income and taxed at the current rate of the employee at that time.&nbsp; Contribution amounts have maximum limits based on age.&nbsp;\n<\/div>\n<div style=\"text-align: justify\">\n\t&nbsp;\n<\/div>\n<div style=\"text-align: justify\">\n\tFor information on enrollment, contact the Division of Human Resources.&nbsp;\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Internal Revenue Service Code 1954, as amended in Section 403(b) allows an employee to take advantage of certain tax advantages by excluding a portion of his\/her gross salary to purchase an annuity for retirement purposes.&nbsp; The plan defers taxes on the income and the growth of the income until the monies are withdrawn from [&hellip;]<\/p>\n","protected":false},"author":78,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.jsums.edu\/staffhandbook\/wp-json\/wp\/v2\/pages\/289"}],"collection":[{"href":"https:\/\/www.jsums.edu\/staffhandbook\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.jsums.edu\/staffhandbook\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.jsums.edu\/staffhandbook\/wp-json\/wp\/v2\/users\/78"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jsums.edu\/staffhandbook\/wp-json\/wp\/v2\/comments?post=289"}],"version-history":[{"count":1,"href":"https:\/\/www.jsums.edu\/staffhandbook\/wp-json\/wp\/v2\/pages\/289\/revisions"}],"predecessor-version":[{"id":290,"href":"https:\/\/www.jsums.edu\/staffhandbook\/wp-json\/wp\/v2\/pages\/289\/revisions\/290"}],"wp:attachment":[{"href":"https:\/\/www.jsums.edu\/staffhandbook\/wp-json\/wp\/v2\/media?parent=289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}