Income Deferral 403(b)
You are eligible to immediately make voluntary pre-tax and/or Roth contributions to the Plan if you are a full-time, part-time, visiting, limited, or casual faculty member.
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 and/or Roth contributions to the Plan each pay, from a minimum of $15 per month up to the annual maximum established by the IRS ( $22,500 in 2023).
If you are age 50 or older, you may also be eligible to make “catch-up” contributions (up to an additional $7,500 in 2023).
The IRS has imposed an annual compensation limit of $330,000 in 2023.
You are always 100% vested in all contributions, including those from the university. “Vesting” refers to your ownership of your Plan account.