Text Only Version
Central Virginia Community College
Home About Academics Admissions Resources Contact
CVCC Campus in Summer

Cash Match Programs - Central Virginia Community College

Cash Match Programs

Tax Sheltered Annuity Program - 403(b)

Employees may elect to participate in a tax-sheltered annuity program - 403(b) - through payroll deduction.  The companies that offer 403(b) products for payroll deduction are listed on the following web site:
http://www.fbmc-benefits.com/VaProviderNetwork/index.asp
Under the drop down box choose Pre-Tax 403(b) Annuity Plans.


Commonwealth of Virginia Deferred Compensation Plan - 457

The Commonwealth of Virginia Deferred Compensation Plan (457) (DCP) is a voluntary retirement savings program for employees of state agencies, political subdivisions and school districts. The DCP is a supplement to your employer-provided VRS retirement pan. All employees hired after July 1, 2008 are automatically enrolled in DCP.  Click here for the most up-to-date information.    To contact your local representative, Nancy Roth, email Nancy.Roth@gwrs.com

Contribution Amounts

Your minimum contribution to the Deferred Compensation Plan or Tax Sheltered Annuity is $10 per pay day. You may contribute a maximum of 100 percent of allowable compensation up to a maximum defined by the IRS.


Cash Match Plan

Qualified state employees may participate in both the Deferred Compensation Plan (DCP) and the Tax Sheltered Annuity (TSA).  Salaried employees receive Cash Match contributions on paydays in which they receive a paycheck and make a contribution to a DCP or a TSA.  The Cash Match amount is 50% of the employee contribution up to $20 per semi-monthly or $40 per monthly payday.

FOR MORE INFORMATION:

Click one of the following links:

Contact the Human Resources Office:
Central Virginia
Community College

3506 Wards Road
Lynchburg VA 24502-2498

Phone: 434.832.7611
FAX: 434.832.7626
Email: click here

Located in Appomattox Building, 1103