Tax Sheltered Annuities allow employees to make voluntary, pre-tax contributions to a retirement investment plan. LCC offers the opportunity for employees to voluntarily contribute to a 457(b) or a 403(b) plan.
Read below for detailed information about this benefit:
Full-time and part-time* employees are eligible.
*Excludes part-time athletic coaches, Specialized Professional Services (SPS) employees, and student employees.
LCC employees may enroll and participate in the tax sheltered annuity program at any time.
- To establish an investment account, enroll with one of our investment companies. Contact the investment company representative to set-up an appointment or to gather more information.
- After enrolling, you must complete a Salary Reduction Agreement form to begin voluntary, pre-tax contributions from your bi-weekly paycheck.
LPL Financial website
Salary Reduction Agreements will be made effective as of the first payroll period following submission to Payroll. You may select a percentage per pay or a dollar amount to be deducted from your paycheck.
A participant may file a modified or renewed Salary Reduction Agreement on a quarterly basis. A Salary Reduction Agreement may be terminated at any time.
All deductions will be transmitted to the appropriate investment company within two business days of a payday.
Contact either Payroll at 517-483-1799 or your HR Benefits Team at LCC-HR-Benefits@star.lcc.edu