Defined Contribution Retirement Plan 403(b)

Participation Start

This is a defined contribution plan in which all eligible employees* of the University may participate on the first day of the month following their initial date of employment provided all necessary paperwork has been completed and processed

University Contribution Eligibility

Employees never covered by a 403(b) plan, who make a minimum contribution, will be eligible to receive the University’s contribution on the first day of the month following two years of employment.

Prior Service Credit

If an employee has been participating in a plan of an eligible employer which meets the requirements of Section 401(a) or 403(b) of the code or in a State Retirement Plan with an eligible employer immediately prior to their employment with the University and the employee otherwise meets the eligibility requirements for this Plan, each month of service with the eligible employer shall be counted as a month of service and a month of receiving a University contribution.

Investment Options

Contributions can be invested through the following fund sponsors:

• Fidelity Investments
• TIAA-CREF

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:

Faculty Details