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.
Tax-Deferred Annuity Plan (TDA) / Supplemental Retirement Plan
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.
Defined Contribution Plan (DC) / Regular Retirement Plan
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.
Commuter Reimbursement Account
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 $255 per month for eligible commuter expenses for the 2017-2018 plan year.
Flexible Spending Accounts
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. For the 2017-2018 Plan Year employees may elect up to $2,600 for a Healthcare FSA and $5,000 for a Dependent Care FSA.
Healthcare Savings Account
For employees enrolled in the Aetna 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. Participants age 55 and older can contribute an additional $1,000
TruMark Financial® Credit Union
La Salle University is home to a full-service credit union branch on La Salle’s campus. Employees can take advantage of TruMark Financial’s affordable financial products and services, including special promotions, right here on campus.