SHS 403(b) version 2023
It sounds like you're interested in learning more about Sacred Heart Schools (SHS), Atherton 403(b)! Please read the following on more information about our 403(b) as well as how you may enroll. The difference between a 403(b) and a 401(k) is that a 403(b) are for not for profit organizations and a 401(k) are for profit organizations.
SHS offers a pre-tax and after tax (ROTH) 403(b) administered by TIAA that you may make contributions to. Once you are receiving contributions from the school and/or your paycheck through a payroll deduction (elected via Paycom ESS), make sure to choose your investments via TIAA's portal. If you have a SHS email, this link will allow you to login to Paycom using your Gmail credentials.
403(b) and ROTH Retirement Information
As of January 1, 2015, all active employees with one year of continuous service at 70% FTE or above, or new employees that have met eligibility at another Sacred Heart Network school are eligible for employer contributions to an account through the Teachers Insurance & Annuity Association (TIAA) retirement program. Years of service at another SHS is not counted towards years of service at SHS, Atherton. At its discretion, SHS makes an employer contribution based on a percentage of base compensation. The current contribution levels are based on the following service criteria and are subject to change with or without notice.
Any employee hired in a part-time capacity of less than 70% FTE (1456 hours) will not be eligible for retirement benefits unless and until the employee changes to a 70% status and meets the service requirements. Any previously qualified employee changing from 70% status to a lower percentage status remains eligible to receive the employer contribution at the appropriate proration, as long as that employee is working a 50% schedule or greater without a break in service. Should a break in employment occur, the employee may be eligible for employer contributions immediately upon rehire at 50% FTE or greater, at the employer contribution tier they left before the break.
All employees except students are eligible to contribute their own funds to the retirement plan account effective as of the first day of work.
Employer Contribution
Eligibility Period
Employer (ER) contribution
Less than 12 months of service
0% of base compensation
13 - 60 months of service
7% of base compensation
61 - 120 months of service
10% of base compensation
121 months or more of service
11% of base compensation
How to enroll/make changes to your 403(b)
- Login to Paycom Employee Self Service (ESS)
- Screenshot 1: Click on "Benefits" > "202X Benefits Enrollment" > on the right side, click on "Retirement"
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You may choose pretax and/or after tax contributions. There will be 4 options
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You can choose one of the two options:
- pretax dollars OR a percentage, but not both
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AND you can choose one of the two options in addition to the pretax option above:
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after tax dollars OR a percentage, but not both
- Scroll down and click on "ENROLL"
- Screenshot 2: On the right side, click on "FINALIZE". If you do not click "FINALIZE", your changes will not be processed.