ABOUT THE IHL EXECUTIVE OFFICE’S
403(b) RETIREMENT PLAN
As an eligible employee of the IHL Executive Office you are permitted to participate in a 403(b) tax deferred retirement program.
What is a 403(b) plan?
A 403(b) plan is a tax-deferred retirement plan available to employees of educational institutions and certain non-profit organizations. In this plan, you can make pre-tax contributions for retirement savings. Distributions generally are only available upon reaching the age 59 ½ or severance of employment. However, distributions can also be available in the event of death or disability.
Why contribute to a 403(b)?

Participating in the 403(b) plan can provide a number of benefits, including:

  • LOWER TAXES TODAY. 403(b) contributions are made on a pre-tax basis which can greatly reduce your current income tax bill. For example, if your federal marginal income tax rate is 25%, and if you contribute $100 a month to a 403(b) plan, you’ve reduced your federal income taxes by roughly $25 (assuming a 25% tax bracket). In effect, your $100 contribution costs you only $75. The tax savings can grow with the size of your 403(b) contribution.
  • TAX-DEFERRED GROWTH. Your account in the 403(b) plan is tax-deferred. This means that your account can grow tax-free until time of withdrawal.
  • ENHANCED RETIREMENT. Other sources of retirement income, including the State’s retirement plan and, if applicable, Social Security, often do not adequately replace a person’s salary upon retirement. A 403(b) plan can provide a healthy supplement to an employee’s retirement income.
How do I get more information?
The IHL Executive Office currently offers one authorized 403(b) program – VALIC. To obtain more information, including how to enroll, contact the Office of Human Resources via email at serickson@mississippi.edu or by phone at 432.6134.

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This document is not intended as tax or legal advice. Neither the Mississippi Institutions of Higher Learning’s Executive Office nor VALIC can provide you with tax or legal advice.
 
Personnel Staff
Susan Erickson
Human Resources Administrator
Telephone: 601.432.6134
Cheryl Mowdy
Assistant Commissioner for Finance and Administration
Telephone: 601.432.6112
 
Employee Forms and Information
Tax Sheltered Annuity -IRS 403(b) Retirement Plan
Business Printing Request (cards, letterhead, stationary, etc.)
Employee Requisition
How to Read the Paycheck Stub or Advice of Deposit
 
Downloads
Policies & Procedures
Employee Handbook

Forms & Instructions
IHL Application for Employment
Medical Reimbursement Request Form
IHL Request for Leave Form
IHL Checklist for Hiring
IHL Employee Requisition
IHL Interview-Selection Report
IHL Exit Clearance Form

General Information
Annual Reminders
New Property Guidelines
Summary of Benefits
Parking Policy
Tax Sheltered Annuity -IRS 403(b) Retirement Plan
Medical Services Requiring Pre-Certification

The following services require certification by Intracorp/CareAllies (State of Mississippi's insurance utilization board):

  • Inpatient hospital admission
  • Outpatient CAT Scan
  • Outpatient MRI Scan
  • Private duty and home health nursing services
  • Solid organ and bone marrow/stem cell transplants
  • Home infusion therapy services
  • Skilled Nursing Facility
  • Long Term Acute Care Facility
  • Hospice Care Services
  • Wound Vacuum Assisted Closure
If scheduled for a hospital admission or outpatient services requiring certification, call 1.800.523.8739 and select prompt option 1.

To protect your benefits, CareAllies must be notified five days before your hospital admission and two days before your outpatient service. In case of an emergency admission, you or an appointed individual must call CareAllies within 48 hours of admission.

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Mississippi Institutions of Higher Learning | 3825 Ridgewood Road | Jackson, MS 39211