TSS - Retirement Savings Plans

Retirement Savings Plans

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First Published  :Thu Feb 24 20:33:20 GMT 2022
Last Modified  :Thu Oct 27 12:07:47 GMT 2022
Last Published  :Thu Oct 27 12:07:47 GMT 2022
Summary : 


Primary Information

    Tufts provides a university-funded retirement plan to eligible faculty and staff. If you are benefits-eligible, Tufts University contributes a percentage of your base salary to the University-Funded Retirement Plan for you. If you wish to save more for retirement, you may also choose to make contributions to a self-funded retirement plan, also offered through the university.  A brief description of each plan is highlighted below, but for more information regarding contribution limits, investment fund options and how to enroll in/manage your retirement accounts, click here.

    Tufts University-Funded Retirement Plan – 401(a)
    You are automatically enrolled in the Tufts University-Funded Retirement Plan on your date of hire if you are a benefits-eligible employee and age 21 or older. You are 100% vested in the Tufts University-Funded Retirement Plan once you have completed three years of eligible service.
    • If you are age 21 to 39, the university will contribute 5% of your base salary, up to the Social Security wage base, and 10% of your salary above the Social Security wage base.
    • If you are age 40 or older, the university will contribute 10% of your base salary, up to the Social Security wage base, and 15% of your salary above the Social Security wage base.

    Self-Funded Retirement Plan – 403(b)

    • To supplement your 401(a) Plan savings, eligible employees may also choose to enroll in the Self-Funded Retirement Plan to make their own pre-tax contribution up to the Internal Revenue Service (IRS) annual limit. This is a 403(b) voluntary retirement plan. All employees of Tufts University (except certain students/employees who are exempt from FICA withholding and employees without a social security number or ITIN; Independent contractors and leased employees) are eligible to participate in the Self-Funded Retirement Plan 403(b).
    • For both 401(a) and 403(b) you may choose to invest through Fidelity and/or TIAA. Regardless of which vendor you choose (Fidelity and/or TIAA), you will use NetBenefits to enroll, increase or decrease your contributions, or to change your investment choices
    New employees (including temporary employees) and rehires will be automatically enrolled with a 6% contribution in the 403(b) Plan after 35 days of employment. If you wish to choose another deferral percentage or opt-out of this benefit (0%), you must change your election accordingly during your initial 35-day enrollment period. All changes will be effective with the next available payroll.  Here tip sheetsheet on how to change your elections via NetBenefits: Change Elections in NetBenefits

Related Information



    401(a), 403(b), contributions, Self Funded, University Funded, Auto Enrollment