In both plans, employees may direct their contributions and those of the University to be invested in one or more of several investment options, including fixed and variable annuities and mutual funds provided by TIAA-CREF and Fidelity Investments.

Standard Retirement Plan

To be eligible for the University’s Standard Retirement Plan, faculty and other non-student employees must be 26 years of age and have completed one year of service at the University or at another institution of higher education within the immediately preceding 12 months. The Standard Retirement Plan is a contributory 403(b) tax deferred annuity plan. The University contributes 9% of the employee’s gross annual salary, and the employee contributes 5%. All contributions are immediately vested.

Standard Retirement Plan Q&A

Voluntary Tax Deferred Annuity Plan (TDA)

All non-student employees and all faculty, including adjuncts, may begin participation in the Voluntary Tax Deferred Annuity Plan (TDA) immediately upon employment. There are no eligibility requirements for this plan. The plan allows employees to make tax-deferred contributions from their salaries to either supplement or initiate their retirement savings. There are no matching contributions made from the University in the TDA Plan.

Voluntary Tax Deferred Annuity Plan Q&A