403(b) Tax Sheltered Annuity Plans

On July 23, 2007 the Internal Revenue Service (IRS) issued final comprehensive regulations governing 403(b) plans for the first time in 43 years. As a result of these changes, some insurance companies have become unable or unwilling to enter into a proper agreement with the state of Hawaii. Those insurance companies will, shortly, no longer be able to receive salary deferral contributions from state employees.

If you have been contributing to an annuity with one of these companies, you have received a letter telling you of the date on which your Salary Reduction Agreement will be cancelled. 

We can help you switch to a company which will be able to accept your contributions. We can also assist you with consolidation of your accounts if you have more than one TSA.

For a complimentary consultation with one of our experienced Financial Advisors, click on Contact Us and complete the Contact Form. Someone will be in touch with you very soon. Or, if you prefer, just call us at 973-7770.