403(b) Retirement Plan

TIAA

Website: TIAA
Phone: 800.842.2252

This 403(b) plan is a voluntary, defined-contribution, tax-deferred retirement program and also offers a Roth after-tax option governed by Internal Revenue Code 403(b). The amount of retirement income is determined by the number of years of participation, the amount of premiums paid each year, age at time of retirement, the experience of the investments, the income option selected at retirement and other factors.

Eligible employees (full-time exempt staff and faculty) can receive up to 5% matching contributions in the 403(b) plan*.

Contributions Limits

Employee contributions limits for 403(b) and 457(b) pre-tax and roth plans are set by the IRS. The limits are applicable to contributions made in a calendar year (January - December).

2022 Pre-Tax and Roth Plans	Employee Limits Under Age 50	Employee Limits Age 50 or older	Employer Matching Limit*
Limit Type:	Calendar Year	Calendar Year	Plan Year
403(b) Plan	$20,500	$27,000	$15,250
457(b) Plan	$20,500	$27,000
Both 403(b) and 457(b) plans	$41,000	$54,000

*The 5% employer matching contributions in the 403(b) plan are subject to the $305,000 annual earnable compensation limit. The limitation only applies to employees hired on or after July 1, 1996 for contributions made in a plan year (July - June).

How to Enroll

TIAA Quick Guide - This guide will provide instructions and tips to enroll, change contributions, investments, transfer assets, and change your beneficiary designation.

Retirement Counseling

On-campus individual counseling appointments are available with a financial advisor with TIAA. Click here to view the upcoming counseling sessions.