The Tax Sheltered Annuity (TSA) 403(b) Plan allows you to, on a voluntary basis, accumulate savings to supplement your employer retirement plan to PERS/OPSRP and Social Security through your choice of annuities and mutual funds. Authority to offer the TSA is granted by the State of Oregon under ORS 243.820 - .803 and Section 403(b) of the Internal Revenue Code.
All MHCC employees are eligible to participate in the TSA program. This includes full and part-time employees. Student employees are excluded from participation if they are enrolled in six (6) credit or more and are exempt from Social Security and Medicare taxes.
The Tax Sheltered Annuity Guide is a general overview of MHCC Tax Sheltered Annuity 403(b) plan. It is not intended to be an exhaustive study of investments, nor does it provide investment or tax advice. The guide does not recommend that you participate in the TSA program. The decision to participate and selection of investment vehicles belongs to each participant, based on factors personals to the participant. In case of conflict between the Guide, official plan documents, and federal and state regulations
on 403(b) plans, 403 (b) regulations will govern.
MHCC Plan Documents:
For questions please contact Payroll.