The contribution is still matched 100 percent, dollar for dollar, by Vanderbilt. Opt to contribute less than 3 percent voluntarily (they may elect to contribute 1 or 2 percent). Opt out of the 3 percent voluntary component of automatic enrollment, leaving them at 3 percent mandatory.This means employees immediately own their contributions and Vanderbilt’s contributions upon eligibility and may take them if or when their employment with Vanderbilt ends. Vanderbilt also will match 3 percent of the voluntary contributions, dollar for dollar.Įmployees are immediately vested 100 percent in their contributions and in the university’s matching contribution. 1, 2024, new hires and rehires also will be enrolled in pre-tax voluntary contributions of 3 percent, meaning they will be enrolled starting at 6 percent* of their pay. That 3 percent contribution is matched 100 percent, dollar for dollar, by Vanderbilt. Since June 1, 2023, new full-time and part-time regular staff, as a condition of employment, have been automatically enrolled in the plan at the mandatory contribution rate of 3 percent. This savings, combined with plan investments, continues to grow and allows employees to save more over time. Vanderbilt’s dollar-for-dollar retirement match-up to 6 percent,* for a total savings of 12 percent*-is added to employees’ retirement accounts to help them be prepared financially for retirement. The enhanced benefit has the potential to significantly improve employees’ financial futures, enabling them to accumulate savings for their retirement years. The employer match will increase from the current 5 percent to 6 percent.* This increase aligns with Vanderbilt’s commitment to foster a culture of financial well-being for its employees. “By investing in our faculty and staff members’ futures, we’re also ensuring Vanderbilt’s long-term sustainability and success.” “With the support of Provost Raver and the school and college deans, the enhanced retirement plan will make Vanderbilt an even more attractive destination for talented individuals seeking to join our dynamic and inclusive community as well as incentivize current employees to remain at the university,” Diermeier said. 1, 2024, the university will match employees’ contributions to the plan up to 6 percent, as well as automatically enroll new hires and rehires in the plan at the 6 percent match.* Vanderbilt University will make significant enhancements to its employee retirement plan beginning this holiday season, Chancellor Daniel Diermeier announced today. Employees may update their voluntary contribution percentage, investment elections or beneficiaries at any time.New hires and rehires will be auto-enrolled in the retirement plan at the 6 percent match.To take advantage of the increased match, you can visit to update your voluntary contribution. 1, 2024, the university will match employees’ contributions to their retirement plan up to 6 percent, up from the previous 5 percent To sign up for Commencement Day volunteer opportunities, visit this link. To sign up for Commencement Celebration volunteer opportunities, visit this link. To sign up for Graduates Day volunteer opportunities, visit this link.
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