Saint Louis University employees can contribute to the 403(b) retirement plan.
About SLU's 403(b) Retirement Plan
The University retirement plan is a voluntary defined contribution plan. After one year of continuous service (at least 1,000 hours), the University will contribute to the retirement plan for eligible employees only if the employee is participating in the 403(b) plan.
Eligible employees can contribute to the 403b retirement plan anytime after hire. After one year of continuous service and at least 1,000 hours worked, the University will contribute to the retirement plan for eligible employees if they contribute to the 403(b) plan.
Effective Jan. 1, 2023, the University will match two for one up to 5% of your contributions. This means if you contribute 5%, the University will contribute 10%. Please see the chart below, which outlines employee vs. employer contributions.
Eligible employees are any person classified as an employee by the University, other than housestaff, adjunct faculty members, an individual whose employment is incidental to his/her education, or a member of a collective bargaining unit (unless the collective bargaining agreement provides for coverage under the retirement plan).
Frequently Asked Questions About the Retirement Plan Match Reinstatement
For payroll periods beginning Jan. 1, 2023, the University’s contribution will be based on the employee’s 403(b) contribution as follows:
| Employee Contribution | Employer Contribution |
|---|---|
| 0 | 0 |
| .5% | 1% |
| 1% | 2% |
| 1.5% | 3% |
| 2% | 4% |
| 2.5% | 5% |
| 3% | 6% |
| 3.5% | 7% |
| 4% | 8% |
| 4.5% | 9% |
| 5% (and higher) | 10% |
403(b) Plan Details
The IRS maximum contribution for 2022 is $20,500. Employees age 50 or over in 2022 may contribute an additional $6,500.
The IRS maximum contribution for 2023 will increase to $22,500. Employees age 50 or over in 2023 may contribute an additional $7,500.
Any non-Roth contributions made to the 403(b) plan are all tax deferred and you are immediately vested in any matching contributions made by the University. Any contributions designated as Roth will be on an after-tax basis. Roth contributions grow tax-free in investments you select. You are fully vested at the beginning for contributions you make and matching funds from Saint Louis University.
Frequently Asked Questions About the Roth Option (PDF)
For more information on the plans, please review the summary plan descriptions page.
How to Enroll Online
Employees may enroll for the 403b online through TIAA/Enroll. Additionally, new participants and employees already contributing to the 403(b) can create and modify their contribution percentage online through TIAA/ManageAccount.
The vendor calculator is a tool from TIAA that allows you to preview the tax savings you will experience by contributing to the 403(b).
Instructions to Enroll Online (PDF)
Contribution Change Deadlines
Contribution changes are made directly on the TIAA website, and Saint Louis University receives these on a set schedule per pay period. The timing depends on if you are paid biweekly or monthly. Refer to the table below if you want to change your existing 403(b) contribution elections.
Biweekly
| Payroll Cycle Number | Check Date | First Date to Change Elections | Last Date to Change Elections |
|---|---|---|---|
| 1 | 1/13/2023 | 12/19/2022 | 1/4/2023 |
| 2 | 1/27/2023 | 1/5/2023 | 1/18/2023 |
| 3 | 2/10/2023 | 1/19/2023 | 2/1/2023 |
| 4 | 2/24/2023 | 2/2/2023 | 2/15/2023 |
| 5 | 3/10/2023 | 2/16/2023 | 3/1/2023 |
| 6 | 3/24/2023 | 3/2/2023 | 3/15/2023 |
| 7 | 4/6/2023 | 3/16/2023 | 3/29/2023 |
| 8 | 4/21/2023 | 3/30/2023 | 4/12/2023 |
| 9 | 5/5/2023 | 4/13/2023 | 4/26/2023 |
| 10 | 5/19/2023 | 4/27/2023 | 5/10/2023 |
| 11 | 6/2/2023 | 5/11/2023 | 5/24/2023 |
| 12 | 6/16/2023 | 5/25/2023 | 6/7/2023 |
| 13 | 6/30/2023 | 6/8/2023 | 6/21/2023 |
| 14 | 7/14/2023 | 6/22/2023 | 7/5/2023 |
| 15 | 7/28/2023 | 7/6/2023 | 7/19/2023 |
| 16 | 8/11/2023 | 7/20/2023 | 8/2/2023 |
| 17 | 8/25/2023 | 8/3/2023 | 8/16/2023 |
| 18 | 9/8/2023 | 8/17/2023 | 8/30/2023 |
| 19 | 9/22/2023 | 8/31/2023 | 9/13/2023 |
| 20 | 10/6/2023 | 9/14/2023 | 9/27/2023 |
| 21 | 10/20/2023 | 9/28/2023 | 10/11/2023 |
| 22 | 11/3/2023 | 10/12/2023 | 10/25/2023 |
| 23 | 11/17/2023 | 10/26/2023 | 11/8/2023 |
| 24 | 12/1/2023 | 11/9/2023 | 11/21/2023 |
| 25 | 12/15/2023 | 11/22/2023 | 12/6/2023 |
| 26 | 12/29/2023 | 12/7/2023 | 12/20/2023 |
Monthly
| Payroll Cycle Number | Check Date | First Date to Change Elections | Last Date to Change Elections |
|---|---|---|---|
| 1 | 1/31/2023 | 12/16/2022 | 1/16/2023 |
| 2 | 2/28/2023 | 1/17/2023 | 2/13/2023 |
| 3 | 3/31/2023 | 2/14/2023 | 3/16/2023 |
| 4 | 4/30/2023 | 3/17/2023 | 4/13/2023 |
| 5 | 5/31/2023 | 4/14/2023 | 5/16/2023 |
| 6 | 6/30/2023 | 5/17/2023 | 6/15/2023 |
| 7 | 7/31/2023 | 6/16/2023 | 7/16/2023 |
| 8 | 8/31/2023 | 7/17/2023 | 8/16/2023 |
| 9 | 9/30/2023 | 8/17/2023 | 9/14/2023 |
| 10 | 10/31/2023 | 9/15/2023 | 10/16/2023 |
| 11 | 11/30/2023 | 10/17/2023 | 11/15/2023 |
| 12 | 12/29/2023 | 11/16/2023 | 12/14/2023 |
If you received a notice that you are eligible for the 457(b) plan, visit the retirement and 457(b) plan page for more information.