Defined Contribution Retirement Plan 403(b)
The 403(b) defined contribution plan allows you to save for retirement by setting aside money from your paycheck.
Participation Start
Eligible employees can participate from the first day of the month following their initial employment date, once all necessary paperwork is completed and processed.
University Contribution Eligibility
Employees not previously covered by a 403(b) plan will receive Adelphi University’s contribution starting the first day of the month after two years of employment, provided they make a minimum contribution.
If you were part of a 401(a), 403(b), or State Retirement Plan with an eligible employer before joining the University, each month of prior service counts towards the two-year service requirement.
Investment Options
Contributions can be invested through the following fund sponsors:
Employee Rights and Protections
As a participant in the Plan, you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA provides that all Plan participants are entitled to a copy of the Summary Plan Description (SPD).
Plan Governance
This plan is regulated by federal law (IRS codes) and the plan document has been adopted by the University Board of Trustees and sets forth the terms and conditions for participation in the plan. No party may make any promises or commitments to any employee or applicant which violates the law or is not in accordance with the plan.
How to Enroll in The 403(b) plan:
- Employees can find the instructions for setting up a TIAA or Fidelity account in MyBenefits on the eCampus portal, along with a Salary Reduction Agreement that needs to be completed and sent to MyBenefits@adelphi.edu
- If you are currently contributing to the 403(b) plan, you can change your contributions twice per year and once per quarter through MyBenefits on eCampus.
Faculty Details
Non-Union Employee Details
All full-time non-union employees will be required to contribute a minimum (mandatory) amount to the plan as a condition of employment after meeting the eligibility waiting period of 2 years of service either with a previously eligible employer or with Adelphi. See Summary Plan Description (PDF) for further details.
Please note: Part-time employees must meet a 1000-hour requirement in a calendar year to be eligible for the University Contribution. Refer to the plan document for more details.
Benefit Specialists
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Contact
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Levermore Hall 203H
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Contact
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516.877.4970
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Levermore Hall 203A