RSA-1
RSA-1 is a voluntary deferred compensation plan offered by the Retirement Systems of Alabama (TRS). As explained in the RSA-1 brochure, by contributing pre-tax dollars, a member lowers his/her taxable income and reduces the amount of taxes he/she pays. RSA-1 is a payroll deduction which makes saving easy and convenient. There is no minimum contribution amount, and the contributions may be increased, decreased, or stopped at any time and as often as desired by the member.
The maximum amount a member may defer per year is 100% of his/her includable compensation reduced by other tax-deferred retirement contributions and pre-tax salary reductions, but not more than the following annual contribution maximums:
Annual Contribution Maximum
Year: 2023
Under Age 50: $23,000
Age 50 and Over: additional $7,500
To begin participation in the plan, print and fill out the enrollment form and send to Becky Price, Benefits Specialist, as this form must be notarized. Following notarization, the competed form will be sent to RSA-1 on your behalf.
If you are a current RSA-1 participant and want to make changes to your contributions, please use this form which will automatically be sent to payroll upon completion.
More information regarding RSA-1 can be obtained on the TRS website at www.rsa-al.gov.