A Tax Shelter Annuity is a voluntary savings toward your retirement. Employees may contribute up to 100% of their gross annual salary not to exceed $15,000 if under age 50. If 50 years old or more, participants may shelter $20,000 for the 2007 tax year. Anyone receiving a W2 form from VMI may participate in this program. Contributions may be changed at any time by completing a new TSA Salary Reduction Agreement. Because this is a retirement savings, there is a penalty for withdrawal of funds before the age of 59 1/2.  Contact the VMI Benefits Office for more details.