• ALUMNI
  • PARENTS
  • LOCAL COMMUNITY
  • STUDENTS
  • FACULTY & STAFF
  • A-Z INDEX
    • |
Giving Banner
Mobile Menu Icon
Search Icon
Caption Arrow

Benefits: Retirement Plan

Applies to: All full-time faculty and staff

Purpose: To support faculty and staff in saving for retirement

Policy Owner: Human Resources

Revision Dates: October 2024

Last Reviewed: April 2021

Policy

St. Norbert offers full-time faculty and staff the opportunity to save for retirement by participating in a 403(b) defined contribution retirement plan, currently administered through Teachers Insurance and Annuity Association of America (TIAA). The college offers matching contributions based on your hire date and your own contributions.

Matching Contributions for Employees: During the first two years of consecutive employment, the College will match every dollar employees save up to the first 5% of their compensation.  Beginning with the third year of employment, the College will make a matching contribution based on the following schedule:

Contribution Match beginning in the 3rd year of employment

Employee Contribution SNC’s Matching Contribution
3% 3%
4% 4%
5% 7%


You may contribute additional dollars into your 403(b) plan through TIAA. However, the college doesn’t match more than 7%.

If you have a break in service, you will need to restart your consecutive years of eligibility.

You may also elect to put your savings into your plan on either a before-tax or after-tax basis. After-tax contributions are often referred to as designated Roth contributions.

Back To Top Arrow