​Retirement Plan
Administered by TIAA
Faculty and staff at Saint Joseph’s University may contribute to the 403(b) Retirement Plan on the first of the month after their hire date.
Starting on the first day of the month following one year of service, full-time faculty and staff are eligible to receive University contributions to the plan. The University will contribute 7% of the regular salary of each full-time faculty and staff member. The University will also match the contribution of each eligible participant who has satisfied the one-year requirement, up to an additional 3%.
PLEASE NOTE: Faculty and staff hired after June 1, 2012 are subject to a three-year cliff vesting schedule – meaning the participant is 0% vested after years one and two, and then 100% vested after completing 36 months of benefit-eligible service. Participants who were employed by a public or private educational institution preceding their full-time employment at the University (with no more than a 90-day break in employment and no other employment in between) will be credited with their service at that institution for the purpose of vesting.
