Tax-Deferred Retirement Plan (TDR): Eligibility and When Penn’s Contributions Begin

Beginning July 1, Penn faculty and staff will have another savings vehicle to consider for your retirement portfolio. The Roth 403 (b) will be added as on option under Penn's Tax Deferred Retirement (TDR) Plan and the Supplemental Retirement Annuity (SRA) Plan. Click here for more information.

You are eligible for the TDR if you are a full-time monthly or weekly paid staff member or a faculty member in a benefits-eligible position. Click here to view the Retirement Eligibility table. University contributions begin after you have completed one year of service. You may be eligible to have prior service credit applied to the one-year wait if you provide evidence of:

• Service with another employer - You were hired directly into TDR-eligible position from a qualified institution that was eligible to maintain a Section 403(b) plan, and you were employed for at least one year in a position at that institution that was covered under the 403(b) plan. (Service with a qualified institution that did not sponsor a 403(b) plan or with a foreign employer that was not eligible to sponsor a 403(b) plan will be evaluated on an individual basis.) Note that you must provide proof of your prior service credit to the Benefits Office. Click here for information about the forms that you must provide when enrolling.
   
• Service with the University - All prior service with Penn or with a University of Pennsylvania Health System entity (UPHS) counts toward the one-year wait for University contributions. If you have been employed by Penn or UPHS for at least 12 months in the past, University contributions can begin immediately. If you have less than 12 months of prior service, that time will be credited toward the one-year wait. Note that you should alert the Benefits Office of your prior service by checking the appropriate box at the top of the TDR Election Form. Click here for information about the forms that you must provide when enrolling.

In both instances, you must notify the Benefits Office of the prior service credit. Click here for information about the forms that you must provide when enrolling.