Retirement Plans Hero

Retirement Plans

Retirement

401(k)

Saint Peter’s offers a generous 401(k) plan through TIAA. Saint Peter’s gives a 2% employer contribution and matches the first 3% that the employee contributes for a total employer contribution of 5%.
For new hires, the employer contributions begin after meeting the 90-day introduction period.
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.

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