CSUF News Service

Changes to CSU Tax Sheltered Annuity Accounts

The California State University is making changes to its Tax Sheltered Annuity Program. Effective April 1, Fidelity Investments will be the sole record-keeper, a move designed to improve efficiencies and savings for participants by offering lower administration fees.

The change will only affect all new TSA contributions effective April 1. Current TSA balances will not transfer to Fidelity. Participants with an existing balance in any of the five TSA plan sponsors (MetLife, Fidelity, VALIC, TIAA-CREF or Voya) will not have their existing funds automatically transferred to Fidelity.

An Early Choice Window, available through March 28, allows employees to enroll, make contribution changes (beginning with their May 1 paychecks), select investment funds and designate beneficiaries. It is available at netbenefits.com/calstate

If employees do not elect investment funds prior to March 28, the April 1 contribution will be directed to the Vanguard Target Retirement Date Fund that most closely aligns with the year they will turn age 65.

To help campus members, two-hour workshops will be offered at noon and 4 p.m. Thursday, March 17. Reservations and more information can be found on the Employee Training Center website http://training.fullerton.edu. Once checked into the site, search for "POD: Understanding Your TSA and Your Plan Options."

In addition, Fidelity Investments representatives will be offering one-on-one sessions March 23, April 5 and April 21. To register for a one-on-one consultation, register online at getguidance.fidelity.com or call 800-642-7131.  Participants also can call Fidelity Investment’s workplace planning and guidance consultants at 800-642-7131, or Fidelity’s general service center at 800-343-0860.

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