Retirement Programs
The University provides opportunities to employees to participate in retirement programs to assist with their planning and preparation for retirement. Below are brief descriptions of the programs available to employees based on their employment status.
Mandatory Plans
Defined Contribution Plan for Faculty and Administrators (Notre Dame Faculty and Administrators' Plan [NDFA]) - This is a defined contribution plan that allows faculty and administrators to save for retirement on a tax-deferred basis after one year of service. Employees hired by the University who have at least one year of service at another educational institution or a not-for-profit or governmental research laboratory must begin making mandatory participant contributions immediately upon employment by the University. When you make your required contribution to this plan, the University also makes a contribution to your retirement account. You may choose how to invest your savings in this plan among funds offered by Fidelity Investments, TIAA-CREF, and The Vanguard Group.
Employees' Pension Plan - Staff employees of the University participate in the Employees' Pension Plan. This is a defined benefit plan, which means a formula-based benefit is paid at retirement to eligible participants. This plan is fully funded by the University.
Voluntary Plan
The Supplemental Retirement Account is a retirement plan that allows faculty, administrators, and staff to save for retirement on a tax-deferred basis. You may invest your contributions with Fidelity Investments, TIAA-CREF, or The Vanguard Group. This plan is fully funded by the employee.
Social Security/Medicare
Both the University and employees contribute an equal amount to Social Security and Medicare. These combined contributions help pay for your retirement, disability, survivor, and medical benefits. The University contributes 6.2% of your earnings (up to the Social Security maximum) each year toward Social Security and 1.45% to Medicare. For more information, contact Social Security Administration at 1-800-772-1213 or visit www.ssa.gov and/or contact Medicare at 1-800-633-4227 or visit www.medicare.gov.
To learn more about University retirement programs, please contact:
askHR
200 Grace Hall
Phone: 1-574-631-5900
Fax: 1-574-631-8263
Email: askhr@nd.edu
