Princeton University Retirement Plan
The Princeton University Retirement Plan (PURP) is a defined contribution plan to which the University contributes a percentage of your base salary to your retirement account after each pay period. Participants become fully vested in the PURP after 30 months of service. Service at a previous employer may count towards vesting credit. To learn more about the PURP, please visit https://hr.princeton.edu/thrive/well-being-resources/princeton-university-retirement-plan-purp.
Princeton University Retirement Savings Plan
Academic Professionals wishing to increase their post-retirement income can make pretax and/or after-tax (Roth) contributions through payroll deductions to the Princeton University Retirement Savings Plan (the Plan). Upon hire, employees are automatically enrolled in the Plan at a 5% pre-tax contribution. This automatic enrollment election will remain in effect unless and until you make a separate election to reduce your compensation by a different percentage or to stop contributing entirely. The contributions deducted from a participant’s pay are invested through TIAA as directed by the participant. To learn more about the Plan, please visit https://hr.princeton.edu/thrive/well-being-resources/retirement-savings-plan.
These summaries are for general information only. The University intends to continue each of the benefit plans but reserves the right to terminate or amend any plan at any time and for any reason. Any inquiries concerning details of the benefit plans listed here should be addressed to the Office of Human Resources, 100 Overlook Center, Suite 400, (609) 258-3300. More detailed information can also be found on the Human Resources website.