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.
- 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.
- You are immediately 100% vested in the plan.
* Effective Oct. 10, 2017, TIAA will become the single service provider for Pacific University retirement plans. Find updates about the transition process in your email and Employee E-News, as well as on this newsfeed. More details also are available in this Q&A (pdf).*