For full-time and regular part-time employees, the University provides avenues within each retirement company for employees to contribute additional pre-tax funds above the 5% retirement plan matching level up to the limits established by Federal regulations. Additionally, employees who are age 21 or older and have not met their one year of service may begin supplemental contributions to these accounts on the first of the month following their date of hire.
The voluntary supplemental accounts are not part of the regular retirement plan and do not receive matching funds.
Enrollment forms and informational packets are available from Employee Benefits.
Contributions by participants will be made on a tax-deferred basis under an agreement for salary reduction executed in accordance with Section 403(b) of the Internal Revenue Code. Salary reduction agreements are available from Employee Benefits.
Employee contributions will be funded monthly during years of participation except for months in which no salary is paid.
Upon termination or retirement, applications for benefits may be obtained by phoning the appropriate retirement company. Contact information is provided upon termination of employment.