Retirement Plan

A 403(b) retirement plan is available for all benefits eligible faculty and staff who have reached age 21. Employees may participate on an unmatched basis immediately upon becoming benefits eligible. Contributions may be invested in TIAA-CREF and/or Fidelity Investments.

Employees may participate on a matched basis after two years of employment for staff and one year of employment for faculty. Once attaining match eligibility and confirming election via the Salary Reduction Agreement form, a base five-percent university contribution is supplemented by matching the employee's contribution of up to an additional four percent when the employee chooses to make such additional contribution. Prior employment with an educational institution of higher learning or certain research organizations may qualify the employee for immediate participation with the match, or for a reduction in the waiting period, if the break in service between institutions is 90 days or fewer.

Please note: that the match is not automatic. Employees must submit a Salary Reduction Agreement form indicating this election in order to receive this benefit.

Policy Manual section

Instructions for making election changes in Banner Self Service (990.63 KB)

403(b) Enrollment/Salary Reduction Agreement Form - Use only for new match elections, split contributions, or if electing the IRS maximum.)

Tax Deferred Annuity Plan (403(b) Plan Document)

Summary Plan Descriptions – Tax Deferred Annuity Plan (403(b) Summary Plan Description)

Suspension of University Contributions (2023)

Summary of Material Modifications (April 4, 2023)

Reinstatement of University Contributions (2024)

Summary of Material Modifications (July 22, 2024)

Summary of Material Modifications (October 22, 2024) (143.75 KB)

Plan Investment Notice (403(b) Fee Disclosure, published April 5, 2024)

457(b) Deferred Compensation Plan