Retirement Savings CCSU Employees have a varied of retirement savings options available to them: 403(b) Plan (also known as a Tax Sheltered Annuity) A 403(b) Plan allows employees to save for their retirement by saving and investing pre-tax dollars through voluntary deferrals (i.e. payroll deductions). Both the contributions and any earnings under the plan are tax-deferred until the money is withdrawn, usually at retirement when individuals tend to fall into a lower tax bracket. When the funds are withdrawn, they are subject to regular income tax. The CCSU 403(b) Plan is available to ALL employees within the CCSU, including substitute employees. A minimum $200 annual contribution required for participation. For more information about our 403(b) Plan, please click here If you already have a 403(b) account with CCSU, you can access your account on-line at: https://www.gwrs.com/login.do. 457(b) Plan CCSU employees also have the option of deferring money into a 457(b) plan. A 457(b) plan works similar to a 403(b) plan in that eligible employees can supplement any existing retirement/pension benefits by saving and investing before-tax dollars through voluntary salary deferral (i.e. payroll deduction). Click here for more information about the 457(b) Plan available to CCSU employees. VMERS (Vermont Municiple Employee Retirement System) Westford support staff employees who work a minimum of 1040 hours/year must contribute to VMERS as a condition of employment immediately upon hire. For more information about VMERS, please click here. VSTRS (Vermont State Teachers Retirement System) All licensed educators working in a capacity that requires an educator license and endorsement must contribute to VSTRS. For more information about VSTRS, please click here. Social Security Benefits Per federal law, all employees have money deducted from each paycheck for Social Security. Social Security can provide you and eligible members of your family with benefits when you retire, if you become disabled, and when you die. For more information about retirement, disability and/or survivor benefits through Social Security, click here, or go to www.socialsecurity.gov.