Tax-Deferred Annuity
To All Faculty and Staff:
Effective January 1, 1999, faculty and staff may be eligible for exemption from the one-year wait requirement to participate in the University's Basic Tax-Deferred Annuity Plan. To qualify you must meet the following criteria:
- Employed by an institution entitled to maintain an IRC 403(b) Plan;
- Hired by the University from the eligible institution referenced above;
- Employed in a position which would have been qualified for participation in the University's Basic Tax-Deferred Annuity Plan; and
- Employed in the position for a minimum of one year.
In order to participate, the faculty or staff member must certify in writing that the criteria outlined above has been met and must obtain a similar certification from the previous employer.
The Benefits Office will supply employee certification forms to those who request them or they may be accessed on the HR website, www.hr.upenn.edu/forms. For information, call the Benefits Office at 898-7282, or e-mail leonardc@pobox.
--Leny Bader, Director of Benefits, Division of Human
Resources
Almanac, Vol. 45, No. 16, January 12, 1999