Basic Retirement Plan
401(a) Basic Retirement Plan
The University’s contributions to the 401(a) Basic Retirement Plan help eligible employees build substantial savings for their retirement years. Tufts University contributes a percentage of your salary beginning on your date of hire if you are a benefits eligible employee and at least 21 years of age. The plan is fully funded with University contributions as follows:
Age
|
% of Salary Under Social Security Wage Base
|
% of Salary Over Social Security Wage Base
|
21 - 40
|
5%
|
10%
|
40 and over
|
10%
|
15%
|
- You are automatically enrolled into the Fidelity Freedom Funds and your money will continue to be invested there until you indicate otherwise.
- If you would like to keep your money invested with Fidelity but re-direct it to investment options other than the Freedom Funds, simply call Fidelity at (800)-343-0860 or visit www.fidelity.com.
- If you would like some or all of your money to be invested with TIAA-CREF, complete the 401(a) Authorization for Investment Choices form, which is available in the Benefits Office or go online to http://hr.tufts.edu. Please return this form to the Benefits Office for processing.
Vesting Period
Employees are 100% vested in the Basic Retirement Plan once they have completed three (3) years of eligible service.