Columbus State University: Human Resources

Human Resources

Jobline
706-562-1594

Our mission
Our mission is to promote and foster the commitment and engagement of the faculty and staff to the institution's goal and mission. This philosophy is created through constant evaluation of faculty and staff professional development, career enhancement, benefits and programs, which support the institution's services and professional development of faculty and staff.

CSU Home > Human Resources > Mythbusters

Mythbusters - January 2008 - 1st Edition

Tax Sheltered Annuities

Myth
...The most you can save in a tax sheltered annuity is the approved amount (2008 - $15,500)....

Myth busted
...IF YOU ARE OVER AGE 50, YOU MAY ELECT TO SAVE AN ADDITIONAL $5,000 A YEAR.

Myth
...The only time you can enroll or make changes to your 403B or 457B is during open enrollment...

Myth Busted
...YOU CAN ENROLL OR MODIFY YOUR 403B OR 457B AT ANY TIME DURING THE YEAR.

What is the difference between a 403B and 457B?

403B - You can draw on at age 59 & 1/2 or older upon retirement without penalty.

457B - You can draw on at age 59 & 1/2 without penalty.

Previous editions of Mythbusters


Human Resources Richards Hall, room 228 Ph: 706-568-2005 Fax: 706-569-3098	Text-only version hr@colstate.edu	Columbus State University 4225 University Avenue Columbus, Georgia 31907