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The Benefits Department is sponsoring a Tax-Deferred Savings Plan Fair on
March 20 in the Great Hall of the Student Union. Employees can talk with
representatives of several supplemental retirement plans and gather information
materials. The session will run from 10 a.m. to 3 p.m.
The University provides three tax-sheltered savings plans for employees to
use for retirement. These tax-sheltered plans are designated by the Internal
Revenue Code sections 401(k), 403(b) and 457. These plans allow employees to
save for retirement while reducing current tax liability. Taxes on
contributions to these plans and any earnings are deferred until you withdraw
your money. You are required to begin withdrawing your money from these plans
by April 1 following the year you reach age 70 1/2 or April 1 following the
calendar year of your retirement from the University, whichever is later.
For more information, contact the Benefits Department at 2-3071 or
benefits@unc.edu">benefits@unc.edu
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