Tax Sheltered Annuities (TSAs) are special accounts made available to public education employees by Internal Revenue Code, that offers the ability to save for retirement through pre-tax salary deferrals. They originally included only insurance company annuities, but have expanded to include mutual fund custodial accounts. TSAs are valuable retirement planning vehicles and allow employees to contribute larger amounts than IRAs. All employees, with the exception of private contractors, appointed/elected trustees and/or school board members and student workers, are eligible to participate in the 403(b) plan immediately upon employment. Participants are fully vested in their contributions and earnings at all times.

The School District of Lee County has contracted with TSA Consulting Group (TSACG), a company specializing in providing services to public employers, for TSA compliance and educational services. Among the services provided by TSACG is an Annual Retirement Benefits Guide that are distributed each year to all eligible employees. The guide, personalized for each employee, contains information about the employee's Maximum Allowable Contribution Limits to TSA accounts and the following general retirement planning sections:

  • Florida Retirement System
  • Social Security and Medicare
  • Personal Retirement Savings Plans
  • TSA Retirement Savings Accounts (benefits, guidelines, & enrollment procedures)
  • Sample TSA documents
  • TSA contribution guidelines
  • Personalized Maximum Allowable Contribution (MAC) Form
  • FRS Pension Plan and FRS Investment Plan
  • DROP
  • BENCOR Special Pay Plan
  • Websites, Addresses and Glossary

In addition to the Maximum Allowable Contribution calculations employees receive in their Annual Retirement Benefits Guide, TSACG will complete calculations for both a mid-year and year-end audit to assure compliance with Internal Revenue Code Regulations. For more information, you may visit TSACG's website at (This third party website is not host nor endorsed by the District.)