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California State University, Long BeachCalifornia State University, Long Beach
February 2012

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2012 Tax Year Update

Internal Revenue Code (IRC) Limits that Impact Retirement Plans

TThe Internal Revenue Code (IRC) limits for Tax Sheltered Annuity contributions for 2012 (402(g), 457(e)(15)) will increase; “catch-up” contribution (414(v)) limits will remain the same for 2012. A summary of the IRC limits is listed below:

Internal Revenue Code Limits for 2012

  • 402(g) elective deferral limit for 401(k) and 403(b) plans $17,000
  • 457(e)(15) contribution limit for 457 plans $17,000
  • 415(c) “percentage of compensation limit” – 100% of adjusted gross salary up to: $50,000
  • 414(v) Age Based (50) catch-up contribution limit $5,500

CSU Tax Sheltered Annuity Program

Did You Know?

The CSU offers a robust, manageable selection of investment choices from five Fund Sponsors (Fidelity, ING, MetLife, TIAA-CREF and VALIC) and allows you to manage your own monthly contributions via Retirement Manager. Plus, you can choose to invest in one, two, three, four or ALL five fund sponsors – the choice is yours!

So if you are not currently participating in the CSU TSA Program, now is a good time to enroll. Apprehensive? Start with as little as $15 per month and opt to increase it in the future.

Healthy Lifestyles Rewards Programs

Get Healthy! Get Rewarded!

Blue Shield and Kaiser HMO health plans offer online programs designed to encourage healthy behaviors. Participants receive monetary, or other rewards for completing online wellness assessments, and reading about strategies to adopt healthier habits. Anthem Blue Cross PPO plans have health resources available to its members as well. For more information, contact your health plan.

“Understanding Your CalPERS Retirement Benefits” Workshop

This two-hour workshop will provide information about your CalPERS benefits and the retirement process. All CalPERS members are welcome to attend. Visit the Benefits Services website to access registration info.

Date Time Location
February 29, 2012 2:00 - 4:00 PM CBA 236W
March 22, 2012 9:00-11:00 AM CBA 236W
April 20, 2012 10:00 AM- Noon CBA 237B
May 16, 2012 2:00 - 4:00 PM CBA 237B

Save The Date

Annual CalPERS “Planning Your
Retirement” Class

This class will be presented by a CalPERS Retirement Specialist and is intended for members nearing retirement who want to learn about planning for retirement, and the necessary steps. If you are at least age 50 with a minimum of 5 years’ service credit with CalPERS, this class is for you! Registration will be required.

Tuesday, March 27, 2012, 11-1:30 P.M.
Foundation Building, Rm. 204.

Special Notice Requirement

Children's Health Insurance Program Reauthorization Act of 2009 (CHIPRA)

Medicaid and the State Children’s Health Insurance Program (SCHIP/CHIP)* Offer Free or Low-Cost Health Coverage to Children and Families

If you are eligible for health coverage from an employer, but are unable to afford the premiums, some States have premium assistance programs to help pay for coverage. Funds from their Medicaid or CHIP programs can help people who are eligible for employer-sponsored health coverage, but need assistance in paying their health premiums.

Benefits Services, Brotman Hall 358, (562) 985-2381, benefits@csulb.edu