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Human Resources

Human Resources Administrative Practice Manual:
Employee Benefits & Services

Print friendly Modified June 24, 2013

Annuity Programs

Citation Reference  
Official Title Policy on Annuity Benefits
Abbreviated Title Annuity Benefits
Volume Human Resources
Responsible Office Human Resources
Originally issued July 1, 1983
Revised December 2007

Policy Statement

Institutions of the University System are authorized to enter into tax sheltered annuity plans and are authorized to enter into deferred compensation plans.

Reason for Policy

This policy ensures establishes the authority under which institutions of the University System may offer Tax Sheltered Annuities to their employees and have such contributions to such an investment vehicle handled on a pretax basis by payroll deduction while also affording the appropriate level of flexibility needed at the institutional level.

Entities Affected By This Policy

All units of the University System of Georgia are covered by this policy.

Who Should Read This Policy

All Human Resources personnel within the University System of Georgia should be aware of this policy.

Contacts

Contact Phone Email/URL
Associate Vice Chancellor for Total Rewards 404-962-3248 karin.elliott@usg.edu
Institution Chief Human Resources Officers See University System HR Officer Listing at http://www.usg.edu/hr/officers/

Website Address for This Policy

Related Documents/Resources

None

Definitions

These definitions apply to these terms as they are used in this policy:

  • Board of Regents: The governing body of the University System of Georgia

Overview

Institutions of the University System are authorized to enter into tax sheltered annuity plans and are authorized to enter into deferred compensation plans to make available for employees a non-forfeitable annuity contract /or a non-forfeitable deferred compensation contract under the provisions of Internal Revenue Code, Section 403(b), and Internal Revenue Code, Section 457(b), respectively.

Process/Procedures

Campuses are responsible for complying with IRS regulations.

Responsibilities

The responsibilities each party has in connection with the Policy on Annuity Programs are:

Party Responsibility
Associate Vice Chancellor for Life and Health Benefits Ensure compliance with policy.
Institution Chief Human Resources Officers Ensure compliance with policy

Forms

Contact your campus Human Resources Office

Appendices

None


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