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Postdoctoral Associates - Retirement Plans

Yale University Tax-Deferred 403 (b) Savings Plan

Postdoctoral Associates are eligible to participate in the Yale University Tax Deferred 403(b) Savings Plan, a Defined Contribution Plan that allows you to invest contributions from your pay in a wide range of investment options.

The monthly contributions and earnings are sheltered from state and federal income taxes until withdrawn at or before retirement. Your final retirement benefit will depend on your contribution rate, your investment choices and the investment return on those choices over the course of your participation in the plan.

You can contribute up to 75% of your pay to the Plan or you can elect to contribute the IRS limit of $17,000 ($17,500 in 2013). If you are age 50 or older, you can choose to contribute an additional $5,500 at any time during or after the calendar year in which you reach the age of 50.

Employee contributions may be invested with either one of the following companies: TIAA-CREF or Vanguard. Both vendors have customized websites designed specifically for Yale employees. These sites offer detailed fund information and retirement planning calculators.

Some additional features are a loan provision (with TIAA-CREF), full distribution or rollover at termination or retirement and in-service distribution at age 59 1/2.

You can enroll in the Plan online via the My Benefits website by logging into the University portal (www.yale.edu/portal) and clicking "My Benefits." The My Benefits website enables you to elect a vendor and your contribution rate. The site contains a link to each vendor to allow you to make a proactive investment election and beneficiary designation.  If you have any questions, contact Employee Services at 203-432-5552.

If you are a Postdoctoral Associate enrolled on or before April 26, 2009, you also receive a University Core contribution equal to 5% of pay.  Your contributions prior to July 1, 2009 were made into the Yale University Retirement Account Plan.  As of July 1, 2009, all employee contributions, as well as University Core contributions, are made the Yale University Tax Deferred 403 (b) Savings Plan.