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 TIAA-CREF Money Market Account and your money willcontinue to be invested there until you indicate otherwise.

If you would like to keep your money invested with TIAA-CREF but re-direct it to investment options other than the CREF Money Market, simply call TIAA-CREF at (800)-842-2776 or visit www.tiaa-cref.org.

If you would like some or all of your money to be invested with Fidelity Investments, 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 years of eligible service.

Payments
You may elect to receive your Basic Plan accumulations in a variety of ways. You choose what is most appropriate for you and your family members.