Valuing your financial well-being
Reinstating the university’s contribution to the 403(b) Retirement Savings Plan
Dear Faculty and Staff,
As Chancellor Martin announced, we are very pleased that beginning with the first full pay period in November, the university contribution to the 403(b) Retirement Savings Plan will be reinstated as follows:
- Bi-weekly-paid employees on the November 20th paycheck (for the pay period of November 1–14)
- Monthly-paid employees on the November 30th paycheck (for the pay period of November 1-30)
Employees who gained eligibility during the time that the university contribution was suspended will also begin receiving the contribution at this time. The specific timing of the restart of the university contribution is the same for biweekly and monthly employees and will result in most bi-weekly-paid and monthly-paid employees receiving the university contribution on the same proportion of pay periods for the calendar year.
You can see the university contribution on your paycheck by logging into HRMS and navigating to Payroll and Compensation, then View Paycheck.
Please note that in order to receive the university contribution, you must eligible for the contribution and be making the minimum employee contribution, which is generally 5 percent of pay. More information can be found here.
You can log on to TIAA at www.tiaa.org/wustl to change your contribution. You must change your contribution by November 10 (bi-weekly-paid employees) or November 17 (monthly-paid employees) for it to be effective in time for the payroll. We are extremely grateful to you for your sacrifices and many contributions to the university, especially during the recent months.
Vice Chancellor for Human Resources
Washington University in St. Louis