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] for further details.
TIAA presents regular webinars on retirement-related topics, including Social Security, Medicare and Estate Planning. Register for an upcoming webinar or view archives of past presentations on the TIAA website.
Bridge to Retirement Plan for Faculty
The Bridge to Retirement [pdf] 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.