Office of Human Resources

New Hires

All employees (except students) including temps, postdoctoral associates and part time status will be automatically enrolled in the Brandeis 403(b) pre-tax deferral plan after 30 days of employment. For exempt employees paid semi-monthly a 5% contribution will be made to the pre-tax deferral source or  3% for non-exempt employees paid weekly. Your contributions will be invested in a Fidelity Target Date Fund that's closest to your anticipated retirement date (assuming retirement at age 65).

Fidelity Investments will be sending new employees an automatic enrollment notification and instruction in the mail to your home address on file in Workday.

If you wish to waive your enrollment in the Plan, you must change your contribution rate to 0% within the first 30 calendar days from the date indicated on your automatic enrollment notification in the mail. You can also elect to contribute prior to the first 30 days by logging on to NetBenefits.

We encourage you to choose a contribution rate, investment options or contribution sources that are appropriate for you. You may change your elections at any time by logging in to your account with your username and password. 

Retirement Savings Plan Self-Enrollment

Enrolling in an retirement savings plans on your own is easy. Follow the steps below to get started:

1. Click Enroll Now and follow the steps to set up your Username and Password.
2. Elect the percentage you would like to contribute to the plan.
3. Choose your investment options.
4. Be sure to designate your beneficiaries.

Universal Availability Notice 

• Pre-tax employee contributions - such contributions and any earnings are exempted from state and federal taxation until collected as income.
• Can be changed (increased, decreased or stopped) at any time
• Election changes become  effective in the pay period following election date.  If election change is made after pay period is closed a retroactive contribution will process in the following pay period.

 Roth 403(b) contribution source  Roth 403(b) option offers the potential for tax-free retirement income.

• After-tax employee contributions
• Can be changed (increased, decreased or stopped) at any time
• Election changes become effective in the pay period following election date. If election change is made after pay period is closed a retroactive contribution will process in the following pay period.

• 8% of your eligible compensation, plus 2% contribution on the July 1 following attainment of age 50 - (semi-monthly paid)
• 6% of your eligible compensation, plus 2% contribution on the July 1 following attainment of age 50 - (weekly paid)
• University matching contributions become effective the first of the following month of eligibility.

Eligibility to receive University Match

Who

• All regular faculty, exempt and non-exempt staff who are scheduled to work half-time or more for not less than 39 weeks per year are eligible to participate in the 403(b) retirement plan;  must be 21 years of age. Participants may elect pretax deferral and/or after-tax Roth contributions

Criteria

• One year of benefit eligible service at Brandeis.
•  The year of service may be satisfied by a year of service at another accredited college or university, to waive the one year wait.
  • Service Credit at Other College or University Instructions/Form
• Faculty and exempt staff who contribute at least 5% of their salary will receive an 8% university contribution. For participants over age 50, the university contribution increases to 10%.
• Nonexempt employees who contribute at least 3% of their salary will receive a 6% university contribution. For participants over age 50, the university contribution increases to 8%.
• Employee contribution can be one or a combination of Pre-Tax Basic Deferral and/or ROTH After-Tax Contributions.
• Any deferrals below the 5% or 3% threshold will not be eligible for the University's matching contribution.