Staff Voluntary 403(b)
You are eligible to make pre-tax voluntary contributions to the Plan if you are a full-time, part-time, limited-time or casual member of our support staff (hired prior to July 1, 2009 and selected this plan as part of Retirement Choice)or bargaining unit.
You may receive the university’s matching contribution if you are a full-time or part-time support staff or bargaining unit member after two years of service.
About the Plan
You can make pre-tax contributions to the Plan each pay, from a minimum of $15 per month up to the annual maximum established by the IRS ($19,500 in 2020 and 2021).
If you are age 50 or older, you may also be eligible to make “catch-up” contributions (up to an additional $6,500 in 2020 and 2021).
After two years of full-time or part-time service, you are eligible to receive matching university contributions of 20% on the first 3% of base salary that you contribute.
The IRS has imposed an annual compensation limit of $285,000 in 2020 and $290,000 in 2021.
You are always 100% vested in all contributions, including those from the university. “Vesting” refers to your ownership of your Plan Account.