Saving for Retirement
For information about expanded access to loans and withdrawals related to COVID-19, and for general information about saving for retirement in this time of economic uncertainty, visit the COVID-19 Retirement Planning webpage.
Enroll in the Retirement PlanEnroll or make changes to your retirement savings plan on the Retirement@Work enrollment system.
For more information about Retirement@Work check out the Retirement@Work Guide.
It's never too early – or too late – to start saving for retirement. Penn makes it easy with three plans that help you save money now and build for the life you want in the future.
As part of a generous total compensation package, Penn offers three retirement savings plans to eligible faculty and staff. These options give you choices so you can save the amount you want in the way that you want.
You also have access to Human Resources events and workshops that help you plan for your particular needs, whether you're just beginning your career or you're ready to set a retirement date. Penn's retirement savings plan partners are also here to help you make the most of your investment dollars. TIAA and Vanguard representatives provide personalized retirement counseling right on campus.
Penn makes contributions to the Basic Plan on your behalf, up to 4% of your base pay depending on your age. Eligible participants don’t have to do anything to enroll. You're automatically enrolled after one year of service.
Maximize your retirement savings with the Matching Plan. Make contributions of up to 5% of your standard pay. After one year of service, Penn will match your contributions dollar for dollar.
Continue to build your savings with the Supplemental Plan. Matching Plan participants can make contributions beyond 5%. Supplemental Plan contributions are not matched by Penn, but tax-advantaged payroll contributions allow you to save as much as you want. The plan is also open to other positions not eligible for the Basic and Matching plans.
Retirement Plan Providers
Connect with Penn's Retirement Savings Plan providers online or by phone. You can also schedule a free counseling session where a representative can help you with your investment choices.
Counseling Sessions with TIAA:
Counseling Sessions with Vanguard:
Counseling Sessions During Campus Office Closure
Effective immediately, all TIAA and Vanguard counseling sessions will be available by phone and/or online meeting only until further notice.
If you have already scheduled an in-person counseling session, TIAA or Vanguard will contact you about alternate arrangements.
All existing on-campus counseling session appointments have been postponed under Penn's suspended onsite operations.