Employee Benefits

Retirement Plans


Local Austin Office: 866-842-2952
One-on-One consultations: 800-732-8353

University’s Contribution: Effective 7/1/2010: 7% (after meeting eligibility requirements)
Employee Contribution: All employees are eligible to contribute the month following their hire date.

2023 Retirement Contribution Limits

2024 Retirement Contribution Limits


Southwestern University provides a retirement program as outlined in a resolution passed by the Board of Trustees on November 10, 2000, and as subsequently amended.

There is a one-year waiting period before the University will begin retirement contributions; however, this waiting period is waived if the employee can provide documentation which confirms that he/she was fully vested in employer contributions made under the terms of a retirement plan sponsored by the employer that employed the eligible employee immediately prior to the University.

Effective 7-1-2010, the University will contribute an amount equivalent to seven (7) percent of the employee’s base monthly salary to the retirement plan.  The contribution is fully vested in the name of the employee and deposited at the end of each pay period.  It is the employee’s responsibility to allocate the funds among the various investment options.  Deposits to the retirement program are not cashable.

The Human Resources department will notify employees of their eligibility and the need for a completed application form. When a fringe benefit requires an affirmative action (application, beneficiary designation, benefit allocation, or similar acknowledgement or election) on the part of the employee, failure to promptly and timely respond to requests for action from the Human Resources department will temporarily suspend eligibility for the benefit until all employee required actions are completed.  In such instances, the University will be under no obligation to retroactively reinstate or otherwise compensate the employee for any loss of benefits attributable to the failure to respond.  Details of this program are available from the Human Resources department.

All employees are eligible to participate in the Regular Retirement Plan on a voluntary basis even if they are not yet eligible for the employer contribution.  Within limits set by the Internal Revenue Code, an employee may enter into an agreement with the University whereby the employee’s salary is reduced and the amount of reduction is allocated among plan investment options as directed by the participant.  The contributions elected by the employee are not taxed at the time of the contribution unless the Roth option is elected.  Details of this program are described in the Summary Plan Description available below.

Summary Plan Description - Regular Retirement Plan

2021 Summary Annual Report

2022 Summary Annual Report

Participant Fee Disclosure for 2022

Participant Fee Disclosure for 2023

Qualified Default Investment Alternative (QDIA) Notification for 2022

Qualified Default Investment Alternative (QDIA) Notification for 2023

Auto-Enrollment Notification

Notice of Universal Availability and Retirement Plan Contribution Limits for 2023

Notice of Universal Availability and Retirement Plan Contribution Limits for 2024

SMM - Secure Act

SMM - Hardship Amendment to the Retirement Plan


Effective with the Fall 2010 semester, eligible faculty members may apply for participation in Southwestern University’s Phased Retirement Option Program (the “PRO Program”).  The primary purpose of the PRO Program is to assist tenured faculty members to make the gradual transition and adjustment into retirement. 

The PRO Program is voluntary and is not an automatic benefit to which eligible faculty members are entitled.  Eligible faculty members must apply and receive written approval as described in the Application/Approval section below.  Requests may be denied or amended by the Provost based on Southwestern University’s (the “University”) staffing requirements or other reasons based on the University’s current needs.

Download the Phased Retirement Option Program Summary

Download the Phased Retirement Option Application


Have questions regarding your coverage or need help communicating with the insurance carrier?

Please contact Gallagher Benefits Advocate Center (BAC)