Retirement Plans
The Fairleigh Dickinson University Retirement Plan is a defined contribution plan that operates under Section 403(b) of the Internal Revenue Code. The purpose of the Plan is to provide retirement benefits for participating employees. Benefits are provided through: Teachers Insurance and Annuity Association (TIAA)
Union Employees
Full-Time Regular employees are auto-enrolled into the employer match plan as soon as administratively possible. Part-Time Regular employees have a 1 year wait period and must have worked 500 hours to be eligible for the employer match.
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Plan Contributions as a Percentage of Compensation |
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| Years of Service | Institution | Participant |
| Less than 8 years | 8% | 3% |
| 8 years or more | 11%* | 3% |
*Refer to Local 153 Contract
Non-Union Employees
Full-Time Regular employees are auto-enrolled into the employer match plan as soon as administratively possible. Part-Time Regular employees have a 2 year wait period and must have worked 500 hours in each year consecutively to be eligible for the employer match.
| Plan Contributions as a Percentage of Compensation | ||
| Years of Service | Institution | Participant |
| Less than 8 years | 8% | 3% |
| 8 years or more | 11% | 3% |
Please review summary plan description for complete details on eligibility and the waiting periods (if applicable).
403 (b) – TIAA (Group Supplemental Retirement Annuity)
Non-contributory plan
All may immediately begin saving towards their retirement by participating in TIAA’s pre-tax Group Supplemental Retirement Annuity (GSRA). The University does not contribute towards a GSRA. The University also offers a Roth option.
Upon eligibility, employees will receive an email and letter to their home address from TIAA. The information includes how to access your TIAA account, make fund selections, and start, stop, and change contributions.
Employees can access more information at www.tiaa.org/fdu.