403(b) Plans

403(b) plans are known as tax sheltered annuities (TSAs). This type of plan is only available to the employees of tax-exempt charitable organizations or governmental organizations. Like 401(k) plans, TSAs can accept pre-tax contributions from employees as well as employer matching and discretionary funds. The annual individual savings deferral is limited by law to $16,500 for 2009. For individuals age 50 and older an additional catch-up contribution of $5,500 is allowed in 2009.

Beginning with the 2009 Plan Year, 403(b) plans are required to have a Plan Document and Summary Plan Description. Also, beginning with the 2009 Plan Year, ERISA 403(b) plans are required to file a Department of Labor Form 5500 annually.

Securities offered through 1st Global Capital Corp., Member FINRA & SIPC.
Investment advisory services offered through 1st Global Advisors, Inc.

We currently have individuals licensed to offer securities in the state of Minnesota, Nevada and Virginia. This is not an offer to sell securities in any other state or jurisdiction.

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