Effective May 1, 2007, Santa Clara University will be offering a new Roth contribution option to your existing 403(b) employee retirement plan. With the addition of the Roth 403(b), you will have another choice on how to save for your retirement. Roth 403(b) contributions and withdrawals are taxed differently than your current plan contribution options. We want you to be aware of this new option now so that you can plan your 2007 contributions accordingly. At this time, the Roth 403(b) option is available through Fidelity only. TIAA CREF anticipates that the Roth 403(b) option will be available in the near future.
To help you make more informed decisions regarding this new contribution, we have included some educational information on the Roth 403(b) option.