Retirement Plans Hero

Retirement Plans

Retirement

401(k)

Saint Peter’s offers a generous 401(k) plan through TIAA. For new hires, the employer contributions begin after meeting the 90-day introduction period. Saint Peter’s gives a 2% employer contribution and matches the first 3% that the employee contributes for a total employer contribution of 5%. Saint Peter’s is committed to providing you with retirement savings opportunities to help you plan and achieve the retirement you want!  After 90 days of service, eligible employees will be automatically enrolled at 3% pre-tax followed by an automatic increase feature at 1% a year up to 10% contribution, all of which can help you reach your financial goals.

Immediately upon hire, employees can contribute pre-tax contributions, up to the IRS annual maximum of $20,500. Employees can also contribute after-tax contributions. Age 50+ has an annual maximum of $27,000. Vesting is after 3 years of service with 1,000 hours or more worked in each year.

Saint Peter’s TIAA website

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