SIUE Supplemental Retirement Plan (403b)
This is an optional retirement plan that allows employees to save money for retirement on a pre-tax basis. A 403b plan operates similar to a 401k plan with guidelines established by the IRS.
How does it work?
Through payroll deduction, pre-tax dollars are invested in the account(s) of your choice with our approved vendors. This pre-tax deduction reduces your current taxable income so less federal and state taxes are withheld from your pay. Your investment earnings accumulate and grow also on a tax-deferred basis and you pay no tax until you begin withdrawing the funds. This is a retirement plan, and funds are intended to remain deposited until you retire. However, loans or hardship distributions may be possible. Please see the plan document at the link below for more details.
How do I meet with an approved vendor?
You may contact the representative from the information below; TIAA is the only approved vendor at this time. Emails are also sent to campus to announce their upcoming scheduled visits so you can meet with them on campus.
What are the limits?
The 2023 403b annual deduction limit is $22,500 for employees under age 50 and $30,000 for employees age 50 and older.
- SIUE Supplemental Retirement (403b) Plan Summary
- SIUE Supplemental Retirement (403b) Plan
- Supplemental Retirement Plan Salary Reduction Agreement Form (403b)
Please contact the representative below for prospectuses and necessary forms.
Teachers Insurance & Annuity Association (TIAA-CREF)
Katie Reed
Financial Consultant | TIAA Retirement Advice and Consulting
333 W Wacker Drive, Suite 2800
Chicago, IL 60606
Office: 312-345-5637
Email: kathleen.reed@tiaa.org
Schedule an appointment: TIAA Direct Scheduler | Katie Reed
Electronic Brochures:
Roth Contributions (403b)
Your Guide to Tax Deferred Annuities
