Most Radford University (RU) employees may participate in a Tax Deferred Annuity (TDA) program under Internal Revenue Code § 403(b) and/or the State's Deferred Compensation Program under Internal Revenue Code § 457. RU's payroll is processed through the State payroll system. The State has contracted with Fringe Benefits Management Company (FBMC) to handle all paperwork and the transfer of funds for the TDA and Deferred Compensation programs. The following are step by step procedures to follow when an employee wishes to set up a new account or to change an existing account.

The Cash Match Program is available to those employees who contribute to a 403(b) or 457 program with a participating vendor. The current amount of the cash match is 50% of the total amount contributed up to a maximum of $20.00 per pay period.

STEP BY STEP PROCEDURES
  1. Contact the Tax Compliance Manager (see below) if you have questions or need to obtain information.
  2. Contact your agent or company to initiate a change, start a new deduction, and obtain applications.
  3. Complete the Salary Reduction Agreement (SRA) (click here for the PDF version of the SRA). You or your agent can complete this form, however, both must sign with the following exceptions. If dealing with TIAA-CREF or T. Rowe Price, you can complete and sign the SRA form and the company does not have to sign it.
     
    Be sure to complete the "Effective with Check Date" box. This tells the Payroll Office when to start your contribution and/or make change. The dates are normally the 1st and the 16th of each month unless the 1st or 16th fall on a holiday, weekend or end of a quarter. In that case, use the day(s) prior to the normal date.
  4. Mail the the SRA to FBMC if you are dealing with TIAA-CREF and/or T. Rowe Price. All other companies or agents are required to mail SRA directly to FBMC. They have been notified of this change. If you prefer, you may mail the forms to the Tax Compliance Manager (address below) who will forward them to FBMC.
  5. FBMC will mail and/or fax the SRA forms to RU’s Payroll Office for processing.
  6. The Payroll Office will start your deduction on the date you requested (Ref: "Effective with Check Date") if the forms are received by the payroll cutoff date. Otherwise, the change will become effective on the following pay date.
  7. In order to participate in the Cash Match Program started by State legislation in April 2000, you will need to complete a Cash Match Form. Please click on this link to print the Cash Match Form. You will need to sign this form only if you are currently participating with two or more TDA companies. The Cash Match Form should be given to your vendor representative who will submit it to FBMC along with your SRA. The eligibility requirements are full-time employment at a State agency, participation in a TDA with an eligible vendor and a minimum contribution of ten dollars per pay period (see attachment of Participating Companies). If you do not wish to participate in the Cash Match Program when you enroll in a TDA, you must submit a written request to the Tax Compliance Manager to "opt out" of the program.
Send SRAs and Cash match Agreements to:
Fringe Benefit Management Company-TSA Services
Sherrye McCullough
P. O. Box 1878
Tallahassee, FL 32302-1878

Street Address:
3101 Sessions Road
Tallahassee, FL 32303


Toll Free: 800-872-0345
FAX: 850-425-8345 or 850-425-6220

RU Contact:
Rhonda Mah
Tax Compliance Manager
110 Preston Hall
P. O. Box 6921
Radford, VA 24142
Phone: 540-831-7020 • FAX: 540-831-5402