Retirement Plan

Pacific University recognizes the importance of providing you with ways to plan for your financial future. Your retirement plan is an important part of your overall benefits.

Plan Highlights:

  • You may participate in the Supplemental Retirement Annuities (SRA) plan, which allows you to contribute to your own retirement plan, with limits set by the IRS and changes can be made at any time. The SRA is a Section 403(b) tax deferred annuity plan and your contributions are invested at your direction, based on options available.
  • You decide how much you want to contribute (up to the IRS maximum limit).
  • You are eligible to receive employer contributions to your SRA plan after you have worked for Pacific at least 1,000 hours over the course of a 12-month calendar year. If you worked for another qualifying education institution, (a minimum of .5 FTE) immediately prior to joining the Pacific University staff and faculty, that service may count toward your eligibility. Please send the 403(b) Employer Contribution Eligibility document to your previous employer.
  • You are immediately 100% vested in the plan.

ATTN: For all those making contributions to a TIAA plan, the Internal Revenue Service announced dollar limitation adjustments for pension plans and other retirement-related items for the 2020 tax year. For the 403(b) plans utilized by Pacific University, the maximum limit is changing from $19,500 in 2020 to $20,500. Catch up for employees age 50 and older is $6,500 for a total of $27,000. You may obtain more details by reviewing TIAA's summary document or by visiting the IRS Retirement deferment information webpage. Changes to contributions for 2020 may be made now through the TIAA website.


Upcoming TIAA Virtual Consultations

    For those with TIAA, these sessions are offered free as a part of your retirement plan. There is no additional cost to you. You’ll get answers to these questions and more:

    • Am I invested in the right mix of investments to help meet my goals?
    • Am I saving enough to create the retirement income I need?
    • How do I take income from my retirement account once I stop working?

    Please note that there is also a COVID-19 Financial FAQ sheet available on BOX.

    Space is limited. If you’d like a session, please schedule one today. When taking steps to make an appointment, choose "In Your Workplace" and then select Oregon and Pacific University to review available sessions for December and January. Please be aware that these sessions are done virtually with the Pacific University representative. Explore upcoming consultation dates and appointment details


    Upcoming TIAA Webinars

    Planning for college? Save With a 529 Plan - December 7 at 9 a.m. (PT) Sign Up
    You can learn how 529 college savings plans work and how to invest in one for a child, grandchild, yourself or another loved one.

    Gaining Insight: Navigating Debt Consolidation and Understanding the Mortgage Process - December 7 at 12 p.m. (PT) Sign Up
    You can learn how to manage and consolidate debt, and get a primer that can help make the mortgage process easier to navigate.

    Estate Planning Basics - December 8 at 9 a.m. (PT) Sign Up
    Making sure that our assets will pass to loved ones and causes that are near and dear is important to most of us. Discover the components of a basic estate plan and strategies to ensure that your wishes are met.

    She’s Got It: A Woman’s Guide to Saving and Investing - December 8 at 12 p.m. (PT) Sign Up
    You can discover saving and investing strategies developed especially for women and how you can put them into action.

    Halfway There: A Retirement Checkpoint - December 9 at 9 a.m. (PT) Sign Up
    You can give yourself a mid-career financial checkup to evaluate your current savings, formulate a plan to help pursue your savings goals and manage competing financial priorities.

    Well-Rounded Retirement Overview - December 9 at 11 a.m. (PT) Sign Up
    Planning for retirement goes beyond putting together a financial strategy. A full-picture plan starts with considering many non-financial aspects of retirement.

    The Power of Savings - December 9 at 12 p.m. (PT) Sign Up
    Whether you’re the kind of person that lives and spends in the now or plans for what’s ahead, there are always ways to save smarter. You’ll learn a number of strategies for better managing your money so you have the knowledge and confidence to pay your bills, save for a rainy day and achieve any larger financial goals you’ve set for yourself.


    Roth Contribution Now Available with TIAA Retirement Plan

    In your retirement plan, your pretax contributions have the potential to accumulate tax deferred and withdrawals are taxable. With the Roth option, your after-tax contributions have the potential to accumulate tax free. Withdrawals after age 59½ are tax free if distribution is no earlier than five years after contributions were first made. These potentially significant tax benefits are similar to a Roth IRA. There are other advantages to Roth contributions, including higher contribution limits than a Roth IRA. Would you like to know more about the new Roth Contribution option available through TIAA? Please see the attached Roth document or view it in BOX.


    Additional Information: