Page 17 - 2016 Enrollment
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Retirement
Fontbonne University 403(b) Plan Employees will have an account
(Amended and restated as of January 1, 2016) established at TIAA-CREF,
and contributions will be sent
The Fontbonne University 403(b) Plan provides one of the best ways to to TIAA-CREF at the end of
save money for retirement while deferring current income taxes. The Plan each month. Each participant
allows both voluntary and matched contributions (for eligible employees). is responsible for determining
the investments for their
Employees must satisfy an eligibility waiting period of two (2) years and contributions. TIAA-CREF has a
be 21 years of age in order to receive a match from Fontbonne University. wide range of investment options
This waiting period is waived if an employee is joining Fontbonne after available to participants including
being employed by another college, university or research institution and a traditional annuity, stocks, money
was participating in the former employer’s fully vested plan. In addition, market, bond funds, lifecycle,
all staff employees who work at least 1,000 hours per year (approximately and mutual funds. There is also
20 hours per week on average) are eligible after satisfying the two year a 403(b) Roth option available to
waiting period. participants.
Once eligible for the plan, Fontbonne University will match pretax TIAA-CREF’s website offers
employee contributions into the plan up to 7 percent of the employee’s retirement planning tools as well as
salary. online access to accounts. One-on-
one counseling on campus is also
During the eligibility waiting period, employees may contribute on a available periodically.
pretax basis into the plan without a match from Fontbonne. In addition,
any employee can contribute on a pretax basis immediately following
the effective date of hire (whether or not they will become eligible for
the match in the future, including adjuncts). All contributions, whether
matched or voluntary, are subject to the limits established by the Internal
Revenue Service. There is currently no vesting on voluntary and matched
accounts; in addition, loans are allowed from any employee accumulations.
2016 Open Enrollment
Retirement
Fontbonne University 403(b) Plan Employees will have an account
(Amended and restated as of January 1, 2016) established at TIAA-CREF,
and contributions will be sent
The Fontbonne University 403(b) Plan provides one of the best ways to to TIAA-CREF at the end of
save money for retirement while deferring current income taxes. The Plan each month. Each participant
allows both voluntary and matched contributions (for eligible employees). is responsible for determining
the investments for their
Employees must satisfy an eligibility waiting period of two (2) years and contributions. TIAA-CREF has a
be 21 years of age in order to receive a match from Fontbonne University. wide range of investment options
This waiting period is waived if an employee is joining Fontbonne after available to participants including
being employed by another college, university or research institution and a traditional annuity, stocks, money
was participating in the former employer’s fully vested plan. In addition, market, bond funds, lifecycle,
all staff employees who work at least 1,000 hours per year (approximately and mutual funds. There is also
20 hours per week on average) are eligible after satisfying the two year a 403(b) Roth option available to
waiting period. participants.
Once eligible for the plan, Fontbonne University will match pretax TIAA-CREF’s website offers
employee contributions into the plan up to 7 percent of the employee’s retirement planning tools as well as
salary. online access to accounts. One-on-
one counseling on campus is also
During the eligibility waiting period, employees may contribute on a available periodically.
pretax basis into the plan without a match from Fontbonne. In addition,
any employee can contribute on a pretax basis immediately following
the effective date of hire (whether or not they will become eligible for
the match in the future, including adjuncts). All contributions, whether
matched or voluntary, are subject to the limits established by the Internal
Revenue Service. There is currently no vesting on voluntary and matched
accounts; in addition, loans are allowed from any employee accumulations.
2016 Open Enrollment
