Tax Deferred Annuity - IRFM
Removed From Faculty Manual
Faculty Manual Part VI Section IIH
H. Tax Deferred Annuity
Section 403(b) of the United States Internal Revenue Code provides that the employees of East Carolina University may contractually reduce their current compensation for the purchase of an annuity. This enables an employee to make tax-deferred monthly contributions of a fixed amount to a company of their choice. These contributions may be made through payroll deduction and are exempt from the state and federal withholding taxes until the annuity benefits are paid. Employees interested in the annuity plan should contact the department of Human Resources.
Deleted as per Faculty Senate Resolution 11-61.
Approved by the Faculty Senate: April 19, 2011
Approved by the Chancellor: May 26, 2011