Frequently Asked Questions

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RETIREMENT 



403(b) SAVINGS PLAN


  • When can I participate in the Retirement plan?

You may begin voluntary contributions on your hire date to be effective the first pay period the first of the month after your election. Effective January 1, 2006, you may begin receiving an employer contribution to Emory’s retirement plan if you were a participant in a qualified plan (403(b), 401(K), pension plan, etc.) and were receiving employer contributions from your previous employer. The waiting period has been eliminated if you participated in a plan and received employer contributions.

  • How do I certify that I have had employer contributions and participated in a qualified plan?

If you are a new hire, you need to submit a Certificate of Participation in Another Retirement Plan online in Self Service. Select benefits and then select 403(b) Savings Plan Election. It is important to note that you begin receiving the Emory contribution effective the first payroll period following the month that you certify. This benefit is not retroactive. So the sooner you complete the certification, the sooner you begin receiving Emory’s contributions.

  • What else do I need to do when I certify?

It is very important that you complete the online enrollment. See How to Enroll.

  • When do I start receiving the contribution after I certify?

You begin receiving the Emory contribution effective the first payroll period following the month that you certify. This benefit is not retroactive. So the sooner you complete the certification, the sooner you begin receiving Emory’s contributions.

  • What if I do not meet the criteria?

If you don't meet the criteria described above, Emory begins making contributions on your behalf after you have completed one year of service and have worked 1,000 hours with Emory (no change from the current waiting period).

  • What is Emory’s contribution?

Emory’s basic contribution is 6% of your regular salary. Emory also makes a “matching” contribution of 1.5% if you are contributing 1% of your regular salary to the retirement plan, or 3% if you are contributing 2% of your regular salary.