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.