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MONEYWATCH
February 3, 2006

Increasing your contributions a little each pay period can greatly increase your retirement savings. Plus, every dollar you contribute reduces your federal taxable income by a dollar and lowers your tax bill at the end of the year. This year, tax laws allow you to save even more. The 2006 plan limit is $15,000 for employees under age 50 and $20,000 for employees age 50 or over. To determine the impact that increased tax-deferred contributions could have on your take-home pay, visit TIAA-CREF’s TDI Advantage Contributions Evaluator at www.tiaa-cref.org under Calculators and Planning Tools. The sooner you increase your tax-deferred-investment (TDI) contributions, the more … » More …

Benefits staff changes, service still emphasized
September 16, 2005

Keeping track of your employee benefits is important. Helping you do that is the WSU Benefits Services office. Benefits Services administers employee benefits including medical and dental insurance, life insurance, long-term disability insurance and retirement savings programs. Personnel can offer solutions and information to customers needing assistance with a wide variety of benefit-related topics.The Benefits Services staff has changed over the last year. The four staff members are available 8 a.m.–5 p.m., Monday-Friday. The office is open during the noon hour. Contacts include:Marie Weiss, benefit specialist – retirement, mweiss@wsu.edu, 335-4580, manages the retirement programs (TIAA-CREF and PERS), including the two supplemental retirement accounts. She also … » More …

Limits rise on 2004 tax-deferred investing
February 13, 2004

The Feb. 10 Earnings Statement for WSU employees will include a link to the Benefit Services website, where you can find information on the expanded tax-deferred limits for 2004. The Internal Revenue Service recently announced cost-of-living adjustments for the new tax year. Limits on the amount of tax-deferred savings you can set aside rise with an inflation index as mandated by the Economic Growth and Tax Relief Reconciliation Act of 2001. The limits for 2004 are as follows: The limit on the salary-reduction contributions to your TIAA-CREF supplemental Tax Deferred Investment or 403(b) plan increases from $12,000 to $13,000. The limit on deferrals to the … » More …