tax sheltered annuities (tsas)

Tax sheltered annuities (TSAs) refer to retirement savings plans for employees of public schools, tax-exempt organizations, and other government institutions. These annuities provide tax advantages by allowing employees to make contributions from their pre-tax income, reducing their taxable income. The accumulated funds within the TSA grow tax-deferred until withdrawal during retirement, at which point they are subject to taxation. Overall, TSAs serve as retirement savings vehicles with tax benefits for specific employee groups.

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