Tax-Deferred Retirement Options
The voluntary tax-deferred retirement options and investment opportunities available to employees of Eastern Illinois University are listed below.
The university’s program, offered in accordance with Section 403(b) of the Internal Revenue Code, allows employees to exclude a portion of their salary from taxable income to purchase an annuity contract or mutual fund shares.
To enroll in the voluntary tax-deferred retirement plan or to change the amount/allocation of your salary reduction, complete the Salary Reduction Agreement and submit it to Benefit Services.
Tax-Sheltered Investment Products
The following companies, approved by the board of trustees, are authorized to market tax-sheltered investment products on campus:
Another type of tax-deferred savings program is available to state employees under Section 457 of the Internal Revenue Code. Information on that program is available from Benefits Services or the Department of Central Management Services’ deferred compensation plan website.
To enroll in the state-deferred compensation program, complete the enrollment form or call the CMS Deferred Compensation Office at 800-442-1300.