Discussion:Box 14: What does 'RET TS' stand for?

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Discussion Forum Index --> Tax Questions --> Box 14: What does 'RET TS' stand for?

Chase (talk|edits) said:

15 March 2007

This is on the W-2 of a school teacher. I've never seen this before. She is a retirement plan participant so I think it might have to do with that.

Deback (talk|edits) said:

March 15, 2007
Here is the only thing I found about this.

JAD (talk|edits) said:

15 March 2007
I have one of those also, also a school teacher. And the box on the W-2 for retirement plan is not checked. Client confirmed that she is in a retirement plan and the RET TS amount was the amount deferred.

Acctax (talk|edits) said:

15 March 2007
Chase, I have seen that before and from what I remember, RET is definitely "Retirement" TS was "Tax Shelter Annuity" (TSA)


Chase (talk|edits) said:

15 March 2007
Thank you all for the above.....I don't think it has any tax impact based upon the comments.

JonLandon (talk|edits) said:

9 April 2010
Does anyone know if the RET TS (box 14 on W-2 for most CA teachers) is eligable for the Credit for Qualified Retirement Savings Contribution?

Lots of my clients have it, but a few lower income ones could qualiy for the credit if it qualifies. I know it's a deferred account, but not sure if it is voluntary.

Marty1970 (talk|edits) said:

9 April 2010
I have a couple of answers, but neither leaves the client eligible for the retirement savings credit. Some 403(b) plans have mandatory contributions, which obviously is not synonymous with elective deferrals that go in box 12 of the w-2. There could have been a 1 time irrevocable election by the employee when he was first hired, which knocks the contribution out of elective status. Also, there might be post retirement 403b contributions for up to 5 years after termination of employment. Finally, there is the 414(h) mandatory contribution that many states have for their defined benefit plan. The amount is often 7-9% of pay. The plan is also known as a 'pickup' plan.

Trillium (talk|edits) said:

10 April 2010
Jon, here's a potentially related discussion: Discussion:Form 8880.

Taxea (talk|edits) said:

10 April 2010
Does it go in bx 12 when the TP has it deducted from Bx 1 and in Bx 14 when the employer is the sole contributor to the account....which is why there is no amount in bx 12 or bx 14?

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