JHU Benefits Site - Faculty and Senior Staff 403(b) Retirement Plan

Faculty and Senior Staff 403(b) Retirement Plan

Eligibility

You are eligible to immediately make voluntary pre-tax contributions to the Plan if you are a full-time, part-time, visiting, limited, temporary, or casual faculty or senior staff member.

You are eligible to receive the university’s contribution to the Plan if you are a full-time, part-time faculty or senior staff member who is age 35 or older; or if younger than 35 has completed two years of service.


About the Plan

You can make pre-tax contributions to the Plan each pay, from a minimum of $15 per month up to the annual maximum established by the IRS ($16,500 in 2010 and 2011).

If you are age 50 or older, you may also be eligible to make "catch-up" contributions (up to an additional $5,500 annually in 2010 and 2011).

You will receive contributions from the university beginning at age 35 or if younger than 35 when you have completed two years of service. The contributions will be equal to 6% of your base salary, increasing to 12% when you reach age 35.

You are always 100% vested in all contributions, including those from the university. "Vesting" refers to your ownership of your Plan account.