Retirement Plan Structure
10% Employer Contribution to a 401(a) Account
Employees who have worked 1000 hours per calendar year in 2 consecutive calendar years and who meet eligibility requirements in accordance with the University Retirement Plan Document.
Optional Voluntary Contributions to a 403(b) Account
All Employer/Employee Contributions Tax Deferred
Santa Clara University's retirement benefits help you build long-term savings and a source of income after you retire from the University. Contributions to both plans below are tax deferred.
Defined Contribution Retirement Plan - 401(a)
The University will contribute an amount equal to 10% of your base compensation. You become eligible the first day of the month coinciding with, or next following your date of hire. You are 100% vested after 2 years of employment.
Faculty and Staff Retirement Plan - 403(b)
You can make voluntary contributions to a 403(b) plan subject to plan year limits. There are also catch-up provisions for those over age 50 or with 15 years of service.
Retirement Provider Options
Fidelity Investment Company
Over sixty Investment Options within six categories:
FINANCIAL CONSULTING (FIDELITY OR TIAA)
Representatives from Fidelity Investments and TIAA provide one-on-one retirement counseling to benefit eligible employees. This is a confidential, half hour appointment that can be scheduled by directly contacting Fidelity Investments at 1-800-642-7131 or TIAA-CREF at (800) 842-2007, extension 1001. For TIAA, you can also sign up through their website, click on Meeting/Counseling section.
Fidelity Website: Consultants and Workshops
TIAA website link: Consultants and Workshops