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What is a "tax-sheltered
annuity"?
A tax-sheltered annuity (TSA), which is also
called a 403(b) or 403(b)(7) plan, is a tax-deferred employee
retirement plan that can be adopted only by certain tax-exempt
private organizations and certain public schools and colleges.
Employees are 100 percent vested in a TSA plan and contribute
only through salary reductions.
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