Clarkson Community,
We want to inform you about a change that will impact future enrollees into the Mandatory Retirement 403(b) Pension Plan. This note is for information only and DOES NOT impact current employees.
These changes are being made to align with the University’s priorities and goals, while also supporting the importance of future financial planning for our faculty and staff.
For employees hired before 11/30/2024, mandatory retirement contributions will continue on the current plan.
- 4.8% Employee contribution of regular bi-weekly salary
- 9.6% Clarkson contribution of regular bi-weekly salary
Employees hired or rehired on or after December 1, 2024, will be eligible for the new contributions as follows:
Beginning the first day of the month after completion of (2) full time years of service:
- 2.4% Employee contribution of regular bi-weekly salary
- 4.8% Clarkson contribution of regular bi-weekly salary
Once an employee reaches their eighth (8) year of service:
- Employee contributions will increase to 4.8% of regular bi-weekly salary
- Clarkson’s contribution will increase to 9.6%of regular biweekly salary
All eligible employees will still have the option to set up Voluntary Supplemental Pre-Tax or ROTH Post-Tax Retirement contributions.
- No Clarkson matches.
- To begin a voluntary supplemental deduction please log into www.tiaa.org/clarkson to set up your account and elect deduction amount.
Please email clarksonhr@clarkson.edu with any questions.
Thank you,
Human Resources