Retirement Plan

Lesley offers employees the opportunity to participate in a 403(b) retirement plan through TIAA-CREF. This plan has two parts; the 'core' part, called the Retirement Annuity (RA), and another part called the Supplemental Retirement Annuity (SRA). You may begin participating in the RA after you have been employed for one year. Your contributions to the plan can be allocated to a variety of investment vehicles. If you join the RA - by contributing 3 percent of your base salary if you are support staff, or 5 percent of your base salary if you are an administrator or faculty member - the University will contribute 7 percent of your base salary on your behalf. As of July 1, 2003, if you have been participating in the retirement annuity and have been employed at Lesley for 5 years, the University will conribute 7.5 percent of your base salary. If you have been employed at Lesley for 10 or more years, the University will contribute 8 percent of your base salary.