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Human Resources

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Retirement Plan for Faculty and Staff

The Vanderbilt University Medical Center Retirement Plan is a mandatory long-term investment program for eligible faculty and staff to prepare for retirement.

I want to: enroll     • see my Fidelity account     • change my contributions     • book a free retirement planning session    • learn about investment limits    • learn about withdrawals & distributions     • read FAQs

I am: just getting started     • close to retirement     • a returning employee   • a former employee

The Vanderbilt University Medical Center 403(b) Retirement Plan has administrative services provided by Fidelity Investments. Participation is mandatory as a condition of employment for eligible employees.

Employees are immediately vested 100% in their contributions and in VUMC's matching contribution upon their eligibility for participation. This means an employee immediately owns his/her contributions and VUMC's contributions upon eligibility and may take them at the time he/she ends employment with VUMC.

Retirement Plan Eligibility

See eligibility details for:

The following VUMC employees are not eligible to participate in the retirement plan:

  • A student, post-doctoral fellow or trainee performing services that are exempt from social security taxes;
  • An employee who normally works fewer than 20 hours per week. An employee normally works fewer than 20 hours per week if, for the 12-month period beginning on the date the employee's employment commenced, VUMC reasonably expects the employee to work fewer than 1,000 Hours of Service in such period, and, for each Plan Year ending after the close of that 12-month period, the employee has worked fewer than 1,000 Hours of Service in the preceding 12-month period;
  • A nonresident alien described in Section 410(b)(3)(C) of the IRC

The following categories of VUMC employees are eligible to participate in the Plan by making voluntary elective deferrals starting on the first day of the first full month after the employee commences employment with VUMC, but they are not eligible to receive Vanderbilt University Medical Center Matching Contributions.

  • Employees who have not attained age twenty-one (21);
  • Employees in a collective bargaining unit who participate in a union-sponsored plan;
  • Employees in TempForce or the temporary nurse registry staff;
  • Part-time faculty members (except those designated as "full-status, partial-load");
  • Full-time temporary faculty members; and
  • Faculty members whose positions include the term "adjunct," "adjoint," "visiting," "emeritus," or "in-residence."
For complete eligibility details for the Retirement plan, refer to the Retirement Plan Summary Plan Description

Fee disclosure

Each year, Human Resources provides fee disclosure information to participants in, and those eligible for, the Vanderbilt University Medical Center 403(b) Retirement Plan. The disclosure gives plan participants a complete, accurate picture of all the funds and associated expenses available. The disclosure is for informational purposes only; no action is required.

The annual disclosure for VUMC is provided each October from Fidelity. The information will include:

  • Participant rights under the plan
  • Rules related to providing investment direction
  • Details about the plan's investment options, including investment-related fees and restrictions

For more information regarding the investment options in the VUMC plan, view the core funds on www.netbenefits.com/VUMC. Also see a Fidelity fees and expenses fact sheet and a Department of Labor fact sheet.

Highly Compensated Employees

If your salary puts you into what Section 414(q) of the Internal Revenue Code defines as 'highly compensated' during the remainder of the calendar year in which you are hired, the VUMC match will cease on the first of January after your appointment date. Your matching contributions will resume when you reach the one-year anniversary of your appointment date.

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