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Retirement Savings Plans

Chestnut Square

Drexel University offers a 403(b) Defined Contribution Retirement Plan for all part-time and full-time employees, and an additional 457(b) Deferred Compensation Plan for faculty and professional staff whose salaries exceed $150,000 during the calendar year.

Each plan option provides value, tax savings and diversified investment options. You may enroll any time after your date of hire.

403(b) Defined Contribution Retirement Plan

The 403(b) Defined Contribution Retirement Plan is offered to full-time and part-time employees, supports pre-tax and post-tax savings, loan options and employees are fully vested. Please visit the 403(b) Defined Contribution Retirement Plan page for more information

457(b) Deferred Compensation Plan

The 457(b) Deferred Compensation Plan is offered to employees whose salary exceeds $150,000 during a calendar year. The 457(b) Plan offers you flexibility to save more for your future. Contributions to this plan are in addition to any contributions you may already be making in the 403(b) Defined Contribution Retirement Plan. Unlike the 403(b) Plan, which is a qualified plan, the 457(b) Plan is a nonqualified deferred compensation arrangement. This means that the assets that are held pursuant to the 457(b) Plan will be subject to the claims of all unsecured creditors of the University if the University becomes bankrupt or insolvent. Please visit the 457(b) Retirement Savings page for more information.