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Tuition
The
Saint Louis University Retirement and 403(b) Plan
403 (b) Plan
Tax deferred investments
are available through salary reduction from Fidelity, Scudder, Teachers
Insurance Annuity Association/College Retirement Equity Fund (TIAA-CREF),
and T. Rowe Price. All employees are
immediately eligible. The 403(b) enrollment package
can be obtained through the Benefits Office at benefits@slu.edu
or 977-2304. Changes to existing 403(b) contributions can
be processed with the Earnings
Reduction Agreement / Allocation Form.
The maximum contribution
for 2008 continues to be $15,500.
Employees age 50 or over in 2008 can contribute an additional $5,000.
Employees who wish to take advantage of the additional contribution
must complete a new Earnings Reduction
Agreement / Allocation Form every year. Completed Earnings Reduction
Agreement forms may be faxed to the Benefits Office at 977-1785.
- To calculate what the maximum
% of salary that you can contribute, divide your targeted contribution
by your annual salary. For example, in 2007 an employee with
an annual salary of $62,000 will be eligible to contribute 25%
of his/her salary, calculated as follows, $15,500/62,000= .25
or 25%.
-
All contributions
to the 403(b) are made pre-tax. Click on the following link
to access a "Take Home Pay" calculator provided
by Fidelity Investments. This will allow you to preview the
tax savings your will experience by contributing to the 403(b).
Take
Home Pay Calculator
Retirement Plan
The University's
retirement plan is a Safe Harbor,
voluntary defined contribution plan. After one year of continuous
service (at least 1000 hrs), the University will contribute to the
Plan only if an employee is
participating in the 403(b) Plan.
The University's contribution
is based on the employee's 403(b) contribution as follows:
|
Employee Contribution
|
Employer Contribution
|
|
0
|
0
|
|
1%
|
2%
|
|
2%
|
4%
|
|
3%
|
6%
|
|
4%
|
8%
|
|
5% (and higher)
|
10%
|
Contributions are
all taxed deferred. Contributions made by the University are
vested immediately.
For more information on
the plan, please read the
SUMMARY
PLAN DESCRIPTION FOR THE SAINT LOUIS UNIVERSITY RETIREMENT AND ANNUITY
PROGRAMS
For more information
about the 403(b) Vendors, take a look at the following Websites
TIAA-CREF on
Campus
- TIAA-CREF will be on campus conducting
seminars and one-on-one counseling session to further assist
employees in better understanding and developing their retirement
plans.
- In order to schedule a one-on-one
counseling session, click on the above link into the TIAA-CREF
website or call 1-800-732-8353 and ask for the scheduling desk.
- Below are the dates and times
of upcoming TIAA-CREF events. These sessions are held in Room
1054, Salus Center.
|
One-on-one
counseling - TIAA-CREF
|
| 2008 |
| January
9, 10 and 11 |
| February
5, 6, 7 and 8 |
| March
12, 13 and 14 |
| April
8, 9, 10 and 11 |
| May 6,
7, 8 and 9 |
| June
10, 11, 12 and 13 |
| July
8, 9, 10 & 11 |
| August
5, 6, 7, & 8 |
| September
9, 10, 11 & 12 |
| Ocbober 7, 8, 9, & 10 |
| November
11, 12, 13 & 14 |
| December
9, 10, 11, & 12 |
Fidelity on Campus
-
Fidelity also
conducts one-on-one counseling sessions to assist employees
in the understanding and development of their retirement plans.
-
In order to schedule
a one-on-one counseling session with Fidelity Investments,
click on the link above or call 1-800-642-7131.
|
One-on-one
counseling - Fidelity Management and Research
|
| 2008 |
| January
14 & 15 in Salus Center, and 24 & 25 in DB Hall, Rm.
406 |
| February
11 & 12 in Salus Center, and 29 in DB Hall, Rm. 406 |
| March
10 & 11 in Salus Center, and 27 & 28 in DB Hall, Rm.
406 |
| April
7& 24 in Salus, and 8 & 25 in DB Hall, Rm. 406 |
| May 12
in Salus, and 22 & 23 in DB Hall, Rm. 406 |
| June
9 & 26 in Salus, and 10 & 27 in DB Hall, Rm. 406 |
| July
24 & 25 in the Salus Center |
| August
11 & 12 in the Salus Center |
September
23 & 24 in the Salus Center |
October
27& 28 in the Salus Center |
December
8 in the Salus Center |
| Retirement Plan
Orientation (Salus Training Room, 9:00 am) |
| Wednesday, January 9 |
| Wednesday, March 12 |
| Wednesday, May 7 |
| Wednesday, July 9 |
| Wednesday, September 10 |
| Wednesday, November 12 |
The following attachment
is the "2008 Notice to Interested Parties.” The Internal
Revenue Service requires that the attached Notice be provided
to employees as notice that it is the intention of Saint Louis
University to submit a routine application to the Internal Revenue
Service for determination as to whether the plan meets the qualification
requirements of section 401 of the Internal Revenue Code.
2008
Notice to Interested Parties
|
