Princeton University Retirement Plan (PURP)
Princeton University provides its benefits-eligible faculty and staff members with the Princeton University Retirement Plan (PURP), a generous, defined-contribution retirement plan. The University makes contributions on your behalf to your retirement account.
In addition to the defined contributions made by the University, you have the option of making your own voluntary pretaxed contributions to a Retirement Savings Plan, also known as a 403(b) plan. Your contributions are subject to limits set by the Internal Revenue Code.
How the Princeton University Retirement Plan Works
The PURP is an employer contributory, defined contribution plan. This means that the University makes contributions on your behalf to your retirement account. You choose how you want the University’s contributions to be distributed among a variety of investment funds offered by TIAA.
The University contributes:
- 9.3 percent of your salary below the Social Security wage base and
- 15 percent of your salary at or over the Social Security wage base.
These contributions are made after each pay period and only when you are receiving a salary from the University.
You can count on support from knowledgeable and responsive HR staff when you have a benefits question or problem. Just call us at (609) 258 - 3302 or send us an e-mail. We’re here to help!
While the University intends to continue each of the benefit plans, the University reserves the right to terminate or amend any plan, at any time, and for any reason.