Retirement options based on your benefits eligibility and hire status:
- Benefit-eligible employees - Eligible for one of three core retirement plans. See plan descriptions below to determine your core plan. In addition, you may choose to participate in the University¡¯s voluntary plans. See below for more information
- Non-benefit-eligible employee - Some retirement plans are accessible to all faculty and staff, no matter their eligibility for other benefits
Looking for plan providers or health care providers?
Visit our plan contacts page for more information.
Defined Contribution (DC) Plan |
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| Defined Contribution Plan | ||
| If you are ... | Your core plan is ... | Your voluntary plan options are ... |
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| Plan Design | |
| Employee automatic deferral rate | 8% (can be changed by the employee at any time) |
| Vesting period | 3 years |
| Employer match | 100% match ($1 for $1 match) |
| Total employer contribution at max match | Up to 8% of pay |
| Total employee + employer contribution at max match | 8% + 8% = 16% |
| Suggested total savings rate | 15% |
Forms and guides
- (SPD)
- Manage your defined contributions and name beneficiaries online:
- Schedule a one-on-one consultation with a Fidelity Workplace Financial Consultant
Hybrid Plan |
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|---|---|---|
| Hybrid Plan (previously called Employee Retirement Investment Plan, or ERIP) | ||
| If you are ... | Your core plan is ... | Your voluntary plan options are ... |
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Forms and guides
- Pension plan funding performance
- Name beneficiaries for the defined benefit portion of your Hybrid Plan using the
- Rehire FAQs for retired or vested individuals under the DB portion of the Hybrid Plann
- Manage the defined contribution portion of your Hybrid Plan name beneficiaries online:
- Schedule a one-on-one consultation with a Fidelity Workplace Financial Consultant
Defined Benefit (DB) Plan |
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|---|---|---|
| Defined Benefit (DB) Plan (previously called the Retirement, Disability, and Death Benefit Plan, or RDD) | ||
| If you are ... | Your core plan is ... | Your voluntary plan options are ... |
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Forms and guides
- Pension plan funding performance
- Rehire FAQs for retired or vested individuals under the DB Plan
- èßäapppension benefits and èßäapp state tax laws
- Name beneficiaries for the DB Plan using the
- Schedule a one-on-one consultation with a Fidelity Workplace Financial Consultant
Voluntary Retirement Plans (VRP) |
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|---|---|
| Voluntary Retirement Plans | |
| All faculty and staff, regardless of benefit eligibility, are able to participate in University-sponsored VRPs: |
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| In addition, benefit-eligible employees, only, may participate in the Supplemental Retirement Plan: |
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Forms and guides
- )
- Manage your VRPs and name beneficiaries online:
- (see for changing deferrals).
- IRS contribution limits on voluntary retirement plans
- Schedule a one-on-one consultation with a Fidelity Workplace Financial Consultant
Reviewed 2024-02-21
