Income Deferral 403(b)
If you are a full-time, part-time, limited-time or casual resident, intern, or postdoctoral fellow who receives taxable compensation (e.g. salary/wages) from the university, you are eligible to make voluntary contributions to this Plan.
Ordinarily, to receive university contributions to the Plan of up to 1.5% of your annual base salary, you must be a full-time or part-time resident or intern at the School of Medicine.
About the Plan
You can make pre-tax contributions to the Plan each pay period, from a minimum of $15 per month up to the annual maximum established by the IRS ($19,500 in 2020 and 2021).
If you are age 50 or older, you may also be eligible to make “catch-up” contributions (up to an additional $6,500 in 2020 and 2021).
The IRS has imposed an annual compensation limit of $285,000 in 2020 and $290,000 in 2021.
You are always 100% vested in all contributions, including those from the university. “Vesting” refers to your ownership of your Plan Account.