Welcome to the Xavier University Retirement Plans - this is a power point with a voiceover explaining the plans for employees
Summary Plan Description for the Tax-Deferred Annuity (Supplemental) Plan
Summary Plan Description for the Defined Contribution (Mandatory) Plan
Participation in the University’s basic retirement plan—administered by TIAA—is mandatory upon hire. See the schedule below for employee and employer contribution levels.
| Employee contributions | Employer contributions (Based upon Years of Service) |
|---|---|
| Salaried-5% | 8.5% (0-5 years) |
| Hourly-2% | 9.0% (after 5 years) |
| 9.5% (after 10 years) | |
| 10% (after 20 years) |
Eligibility to contribute to supplemental retirement savings is effective on your first day of Xavier employment, irrespective of basic plan participation.
Annual limits are governed by the IRS: In 2019, the applicable annual limit is $19,000. Employees having attained age 50 or over may elect to contribute up to an additional $6,000 annually.
TIAA One-on-Ones Retirement Counseling