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403(b) Tax-Deferred Retirement Plan
All employees, excluding student employees, have the opportunity to participate in the University’s 403b retirement plan at any time. Retirement contributions can be made on a pre-tax or taxable (ROTH) basis and are deducted from each paycheck. Participants have the flexibility to modify how much is contributed to the 403b retirement account and can manage how the contributions are invested. Federal law limits the amount employees may contribute on their own behalf to the 403b plan in a calendar year.
- 403b Summary Plan Description
- 2020 403b SAR - Summary Annual Report
- 2022 Universal Availability Notice
403(b) Salary Reduction Agreement Form
To begin or change your 403(b) contribution, please log on to the TIAA portal at www.tiaa.org/txwes and submit the request electronically.
401(a) Nonprofit Defined Contribution Plan*
We also offer a 401(a) retirement savings plan. If you are at least 21 years of age and have worked for Texas Weselyan University for at least 12 months and 1,000 hours during that 12-month period, you are eligible to participate in the 401(a) retirement savings plan. All eligible employees receive a 2% universal contribution to the account. Texas Weselyan University may also match up to an additional 6% to the plan, based on your contribution to your 403(b) plan. Effective June 2016, Texas Weselyan University's discretionary match is 2%. Participants are vested 20% for each year of service and are 100% vested after five years of service. To earn a year of service, you must be credited with at least 1,000 hours of service during a plan year. Universal Contribution and Match amounts are reviewed annually and are subject to change.
If you have any additional questions, please email Human Resources or 817-531-4403.