Stanford Contributory Retirement Plan (SCRP)

The Stanford Contributory Retirement Plan (SCRP) is designed to help you save for your retirement through your own investment and a generous matching contribution from the university.

Plan Information

Eligibility

There are three types of contributions in the SCRP: Pre-tax, After-tax, and Roth. The main difference between the contribution types is how your amounts are withheld from your paycheck. Learn more about each account type on the eligibility page.

Enrollment

Start saving right after your first paycheck. You can enroll in the SCRP at any time. If you are new to Stanford, we will automatically enroll you in the 4% Pre-tax plan 60 days from your date of hire. You may opt out of this election or change your contributions at any time by contacting Fidelity. Learn how to enroll in the retirement savings plan.
 

Contributions

You can elect Pre-tax, After-tax, and Roth contributions to your accounts. If you qualify for university matching after one year of service, Stanford will make contributions on your behalf. Election changes are subject to payroll deadlines of the 10th and 25th of each month. Learn about Stanford's contributions.

Investments

Whether you are new to investing or a savvy financial planner, our investment options help you meet your financial goals. Learn about our free investment tools and financial counseling.

Distributions

Once you have reached age 59 ½, you can distribute your employee contributions. Understand when you can request a withdrawal, how to apply for one, and at what age you are required to take one. Learn about your retirement savings distribution options.

Loans & Hardship Distributions

While you are an active employee, you may take a loan or a financial hardship. Learn about loans and hardship distributions.

Plan Highlights

• Contribution variety — All employees can contribute Pre-tax, After-tax, or Roth dollars starting after their first paycheck. Eligible employees may also receive a generous matching contribution after one year of service.
• Investment variety — Choose from investments that range from conservative to aggressive.
• Convenience — The amount you want to invest is deducted automatically from your paychecks.
• Access any time — Manage your investments online through My Retirement Savings or by calling Fidelity at 888-793-8733.
• Tax savings now — When contributions are deducted before taxes, i.e., the Pre-tax option, you lower the amount of income tax you pay each pay period.
• Tax-deferred savings — In most cases, you pay no taxes on investments and earnings (if any) until you withdraw them. The Pre-tax option is tax-deferred.
• Portability — The SCRP accepts rollovers of eligible savings from previous employer(s). When you leave Stanford, you can take your entire SCRP account balance with you.
• Automatic annual increases — Enroll to automatically increase your contribution amount each year.
• Prior Service — If you have been hired into active employment that qualifies for benefits (faculty or staff), and you have a prior university employment, Postdoctoral Appointment, or employment within a Controlled Group (SHC, LPCH, etc.), you may have additional eligibility criteria to consider. Please complete the Request for Prior Service Verification for SCRP Eligibility or contact the Stanford HR Service Center for assistance at 877-905-2985.
• Rehires — All rehires are required to resubmit their eligible SCRP elections. Prior elections will not be reinstated, and auto-enrollment will not take place.
• Catch-up contributions — If you are age 50 or older and make the maximum contribution to your account, you can make an additional “catch-up” contribution each year:
  • Age 50 and older catch-up contributions can only be in Pre-tax and/or Roth contributions.
  • Participants between the ages of 60 and 63 by Dec. 31 of each year are eligible for a higher amount of additional contributions, $11,250 in Pre-tax and/or Roth contributions.

Notice: This website provides a summary of eligibility, coverage, vesting, retirement dates, payment options, and other subjects. However, the official Plan Document, together with certain annuity contracts and custodial agreements with investment providers (all as amended from time to time), govern the Plan’s actual operation and the determination and payment of benefits. In the event of any conflict between this website and the official Plan Document or any of the annuity contracts or custodial agreements, the Plan Document, annuity contract, or custodial agreement will govern.