LSW is sponsoring the rollout of the Human Rights Awareness campaign in Nevada in conjunction with ASP, Youth for Human Rights and the Nevada PTA. Click here for more information.

ASP Retirement Planning 101 is being brought to you through a strategic partnership between ASP, Life of South West (LSW) and the local school system, including local school administrators, principals, superintendents, PTA's and School Boards to offer a unique program to our K-12 staff.

Life of South West (LSW) is a member of The National Life Group. A dynamic and growing family of financial service companies offering products and services which help individuals and businesses meet their financial goals.

LSW was incorporated in 1955 under Texas law as a legal reserve life insurance company. LSW is licensed to do business in 49 states and the District of Columbia.

What is a 403(b) Tax Sheltered Annuity?

A Tax-Sheltered Annuity (TSA), also known as a 403(b) plan is named after a section of the Internal Revenue Code. It is an employer sponsored retirement savings program. Participation is limited by law to employees of public educational organizations and certain nonprofit organizations. The vast majority of participants are teachers in public schools, colleges and universities.

Contributions to a TSA are made for the participating employee by his or her employer. The money that is contributed to the TSA comes either from employer contributions - which are called non-elective deferrals, or from employee contributions, called elective deferrals.

Elective deferrals are deducted from the participant's paycheck and forwarded to the insurance company or mutual fund custodian selected by the participant. The participant signs a salary reduction agreement giving the employer the authority to make the paycheck deduction and remit it to the chosen company. Most TSA contributions are elective deferrals.

You may contribute 100% of your compensation subject to the elective deferral limit of $11,000 for 2002. This limit increases by $1000 per year for each of the next four years so it will be $15,000 in 2006. For individuals age 50+, an additional $1,000 can be contributed for 2002, making the deferral limit $12,000, This amount also increases by $1,000 per year for each of the next four years reaching $5,000 in 2006. If a 403(b) participant has 15 or more years of service, they may be eligible for an additional "catch-up" provision. A "catch-up" provision of $3000 is available only if the participant has not contributed on average more than $5,000 per year into a 403(b) account. An averaging calculation must be done to ensure that the option is available. A lifetime limitation of $15,000 applies to this special "catch-up' provision.

We can help…

We can offer you unique programs. Please feel free to contact us at : (800) 345-4025 to attend a local seminar or organize a seminar in your school.