Eligible employees at La Salle University may contribute to a 403(b) plan for retirement savings which is administered by TIAA. Deductions can be withheld on a pre-tax or Roth basis.
All employees, including part-time staff and adjuncts, are eligible to participate in the Tax-Deferred Annuity Plan (supplemental retirement) on the first day of the month following their date of hire.
All full-time, non-temporary employees are eligible to participate in the Defined Contribution Plan (regular retirement) after one year of service*. Eligible employees who contribute up to five percent of their pay receive a University match at a rate of 40 percent (i.e. if the employee contributes five percent, the University contributes two percent).
*In certain circumstances, prior full-time service at an institution of higher education can be applied to the wait period.
A Commuter Reimbursement Account is available for eligible employees to save money on certain transportation expenses related to commuting to and from work such as metro and transit passes. This account is administered by Payflex. Eligible employees may elect up to the IRS annual limit for eligible commuter expenses.
Eligible employees have the option of two tax exempt Flexible Spending Accounts (FSA). These accounts are administered through Payflex. A Healthcare FSA is available for your eligible healthcare expenses. A Dependent Care FSA can be used for your eligible child and dependent care expenses. Eligible employees may elect up to the IRS annual limit for eligible Healthcare FSA and Dependent Care FSA expenses.
For employees enrolled in the Independence High Deductible Health Plan, La Salle University offers a Health Savings Account (HSA) through HealthEquity. The HSA is essentially a bank account that allows you to save and pay for eligible healthcare expenses tax-free up to a certain amount. You can even use HSA funds to pay Continuation Coverage and long-term care insurance premiums. For 2018 the IRS allows up to $3,450 for an individual and up to $6,900 for family coverage. Eligible employees can make contributions in accordance with annual IRS limits for health care savings accounts.