Voluntary 403(b) Retirement Plan
USF's Voluntary Retirement Plan 403(b) helps benefits-eligible faculty and staff save now for future living expenses while also saving on taxes today.
Auto-Enrollment
- As a new full-time employee and if eligible, you will be automatically enrolled in the 403(b) plan with TIAA at 3% of your salary.
- Adjunct faculty members are not auto-enrolled in the 403(b) plan. If you are an adjunct faculty member who would like to enroll, please email retirementplan@usfca.edu.
- Pre-Tax contributions are deducted from your paycheck and deposited into an established TIAA account. You can choose how to invest these contributions by simply accessing your TIAA account online or speaking with a customer service representative. The Qualified Default Investment Alternative (QDIA), if you choose not to make an election, is the TIAA Lifecycle Funds.
- Log into Workday from your myUSF dashboard to increase or decrease the amount of your contribution or end auto-enrollment at any time throughout the year.
- Your contributions are vested immediately.
Enroll with our Online Salary Reduction Agreement
If you are an eligible employee and you were not automatically enrolled in the Plan or opt to contribute a different amount you can do so at any time.
- Complete our Online Salary Reduction Agreement from the USFWorks homepage, or by logging directly into your account at University of San Francisco | Home (tiaa.org)
- You are eligible to contribute any amount up to the IRS limits.
- Your contributions are vested immediately.
The IRS increased the contribution limit for the 403(b) Voluntary Retirement Plan for 2026. Review the 2026 403(b) limits.
Note:
- If you are currently contributing the maximum amount and would like to continue with the same contribution, no action is needed on your part.
- If you are age 60 – 63 by 12/31/2026, you can contribute a maximum amount of $35,750. If you are currently contributing the maximum amount, and will be between age 60 – 63 by 12/31/2026, you will automatically contribute up to $35,750 unless you decide to change your deferral election. If you have any questions about this contribution limit, please reach out to Ron Chin at rchin2@usfca.edu.
- Congress passed SECURE 2.0 to help Americans better plan and save for their financial future. As part of SECURE 2.0, starting in 2026, changes are being made to the age-based catch-up contributions. Review the catch-up contribution limits for 2026.
- For more information about these changes, please read the 2026 new rules for age based catch-up contributions and how this may impact you.
Saving more for retirement is a smart money move with many benefits. Has your paycheck increased over the years? Have your living expenses changed? If so, consider contributing more to your retirement plan.
Add or update your retirement plan beneficiaries.
Roth 403(b) can offer an additional way to save for retirement and generate tax-free retirement income with TIAA. Unlike a traditional, pretax 403(b), the Roth 403(b) allows you to contribute after-tax dollars and then withdraw tax-free dollars from your account when you retire.