Advanced Energy Employee Information

403(b) Tax Sheltered Annuity Plan (TSA)

403(b) Plans generally serve as voluntary supplemental retirement savings plans designed to supplement retirement benefits available from State pension plans and Social Security. The IRS provides a Summary of 403(b) Plan Basics page and a 403(b) Plan Brochure for Employees on its website.

Please visit the "Why Participate?" page for additional information on the benefits of utilizing the 403(b) plan.

Roth Contributions Available

Advanced Energy allows Roth 403(b) Contributions. Roth contributions are deferred from paychecks to investment accounts on an after-tax basis, as opposed to Traditional 403(b) which are deferred on a pre-tax basis.

CCC Roth Tutorials Available:

• Roth Basics Video (8:36 min.)
• Roth Basics Powerpoint

Useful Roth Contribution Links

You may find it helpful to review some of the websites listed below.

• IRS Roth Page
• IRS Roth FAQ page

Please note: Roth 403(b) accounts are available from select vendors, please review the information listed on the Advanced Energy 403(b) Vendors page for vendors that show "403(b) Roth Account Available" after the vendor name where applicable, then follow the Enrollment Steps to begin participation.

Which Optional Features Does the District Allow in its 403(b) Plan?

403(b) Optional features are either included in, or excluded from, the Plan, as specified below and as further described in the parenthetically referenced sections in the Plan Document for North Carolina Advanced Energy. These options are listed here in abstract for convenient reference:

Catch-ups under the Plan
• 15 Years-of-Service Catch-up Elective Deferral Contributions: No
• Age 50 Catch-up Elective Deferral Contributions: Yes
Contributions to the Plan
• Direct Rollovers Into the Plan: Yes
• Employer Contributions Allowed: Yes
• Employer Post Severance Contributions Allowed: No
• Exchanges Within the Plan: Yes
• Roth Contributions: Yes
Other Plan Transactions
• Hardship Distributions: Yes
• In-service Distributions After Age 59-1/2: Yes
• In-service Distributions From Rollover Accounts: Yes
• Loans: No
• Permissive Service Credit Transfers: Yes
• Plan-to-Plan Transfers To the Plan: Yes
• Plan-to-Plan Transfers From the Plan: Yes

Am I Eligible To Participate? How Much Can I Contribute?

Please review the Eligibility and Limits Announcement for a full description of the employees eligible to participate and the contribution limits that apply. Advanced Energy does not require any minimum monthly contribution amount.

How Do I Begin, Change, or Cancel Contributions?

Please review the 403(b) Enrollment Procedures for step-by-step instructions on how to beginning participation or make a change to your contributions. This page will also list the vendors available under the Advanced Energy 403(b) Plan and their contact information.

403(b) Transaction Information

Visit the 403(b) Transaction Page.