There are many options for saving for your retirement and we highly encourage all employees to become familiar with the programs offered at Edison State College.
TSA Consulting Group, Inc.
TSA is our third party administrator for our 403b and 457 voluntary retirement plans. 403(b) and 457 plans serve to supplement employer sponsored pension plans. Contributions to these plans are taken via a pre-tax payroll deduction.
We have included the website specifically designed for Edison State College employees. Here you can find a wealth of information relating to the available retirement plans, plan documentation, approved providers list, an employee educational video, and the forms necessary to complete actions such as distributions or hardship withdrawals.
ART is an online transaction and recordkeeping system developed by TSA Consulting for participants to use when requesting loans, rollovers, distributions, and contract exchanges from 403(b) accounts. This system is known as the ART system (Aggregated Records & Transactions) and will expedite the time required to process transaction requests.
BENCOR Alternate Social Security
The FICA Alternative Plan is a defined contribution plan authorized under Section 401(a) of the Internal Revenue Code. BENCOR, Inc. is the plan administrator for Edison State College. In lieu of paying 6.2% of your wages for Social Security taxes, you will now contribute 7.5% of your pre-tax wages into an investment account in your name. Medicare contributions at 1.45% will continue to be withheld from your paychecks. Participation in this plan is mandatory for all eligible employees. You will be automatically enrolled or un-enrolled by the College as your salary plan status changes during your employment with Edison State College.
Florida Retirement System (FRS)
The FRS is an employee and employer contributory retirement plan. The rules surrounding FRS including the contribution rates are determined by the Florida Legislature and are reviewed yearly. One of the requirements of the State is that all full time and part time regular employees must participate in the FRS. Additional information regarding FRS can be viewed on the Human Resources website or on the FRS website, above.