Senior Staff 403(b)

Eligibility

You are eligible to immediately make voluntary pre-tax contributions to the Plan if you are a full-time, part-time, visiting, limited, or casual senior staff member.

You are eligible to receive the university’s contribution to the Plan if you are a full-time or part-time senior staff member age 35 or older; or if younger than 35 have completed two years of service.

About the Plan

You can make pre-tax contributions to the Plan each pay, 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).

Ordinarily, you would receive contributions from the university beginning at age 35 or if younger than 35 when you have completed two years of service. Senior Staff hired July 1, 2011 or later will receive contributions equal to 4% of your base salary, increasing to 8% when you reach age 35. Senior Staff hired prior to July 1, 2011 will receive contributions equal to 6% of your base salary, increasing to 12% when you reach age 35. However, for the period between July 1, 2020 and June 30, 2021, JHU has suspended the university’s contributions to this retirement planMore information on this change is available.

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.