Retirement Plan Transition
403 (b) Plan
Tax deferred investments are available through salary reduction from Teachers Insurance Annuity Association/College Retirement Equity Fund (TIAA-CREF). All employees are immediately eligible. The 403(b) enrollment package can be obtained through the Benefits Office at firstname.lastname@example.org or 977-2360. Changes to existing 403(b) contributions can be processed with the Earnings Reduction Agreement / Allocation Form.
The maximum contribution for 2013 is $17,500. Employees age 50 or over in 2013 can contribute an additional $5,500. Current employees who wish to take advantage of the additional contribution must complete a new Earnings Reduction Agreement / Allocation Form every year. Completed Earnings Reduction Agreement forms may be faxed to the Benefits Office at 977-1785.
The University retirement plan is a Safe Harbor, voluntary defined contribution plan. After one year of continuous service (at least 1000 hrs), the University will contribute only if an employee is participating in the 403(b) Plan.
The University's contribution is based on the employee's 403(b) contribution as follows:
|Employee Contribution||Employer Contribution|
|5% (and higher)||10%|
Contributions are all tax deferred. Contributions made by the University are vested immediately.
For more information on the plans, please review the Saint Louis University Retirement Plan.
For more information about the 403(b) Vendor:
Instructions for Online Enrollment
IRS 2013 Notice to Interested Parties
The following attachment is the "2013 Notice to Interested Parties.” The Internal Revenue Service requires that the attached Notice be provided to employees as notice that it is the intention of Saint Louis University to submit a routine application to the Internal Revenue Service for determination as to whether the plan meets the qualification requirements of section 401 of the Internal Revenue Code.