The College currently provides a fully-vested 403(b) retirement plan with TIAA. The College contributes 8% of pay to eligible participants who contribute at least 2%. The plan includes multiple investment options. To learn more about your retirement investment options, visit the TIAA website or call them directly at (800) 842-2252.
The plan allows you to save for retirement on a tax-deferred basis, up to 75% of pay (subject to the below IRS limits). The 2020 maximum contributions to a 403(b) account are:
- $19,500 if you are under age 50
- $26,000 if you are age 50 years and older
You must contribute at least 2% of your pay in order to receive the College contribution of 8%. To enroll in the plan, first set up your account on the TIAA website (How To Enroll [pdf]), and then complete a 403(b) Retirement Salary Reduction Agreement [pdf] and submit it to Human Resources. You can change your contribution once per calendar quarter by submitting a new salary reduction agreement.
For more details, refer to the New Hire Flyer [pdf].
TIAA National Contact - (800) 842-2252
Retirement Plan SPD and Disclosures
- Coronavirus Aid, Relief and Economic Security (CARES) Act Provisions [pdf]
- Retirement Plan Summary Plan Description [pdf]
- TIAA Retirement Plan and Investment Information [pdf]
- Annual Contribution Notice [pdf]
Upcoming TIAA Meetings
Our TIAA representative will be on campus throughout the semester. Refer to the TIAA Meeting Schedule [pdf]沙巴体育滚球 for further details.
Bridge to Retirement Plan for Faculty
The Bridge to Retirement [pdf]沙巴体育滚球 is available to all tenured faculty members who are at least 55 years of age, and have at least 10 years of full-time College service. The plan is voluntary and is initiated by the faculty member. The plan was designed to provide one to three years at a reduced teaching load in order to prepare for full retirement.
An employee may be eligible for certain retiree benefits from St. John Fisher College after 10 years of full-time employment, if years of service plus age equal at least 65. Please use this link for more information on Retiree Benefits [pdf], including health insurance, dental insurance, life insurance, and tuition remission. The links below contain important information on enrolling in Medicare and contact information for assistance with your Medicare enrollment questions.