Vanderbilt Retirement Plan — VMG Faculty Eligibility
As a new faculty member you will be automatically enrolled in the Vanderbilt Retirement Plan. The required contribution is 6.47% and Vanderbilt will make a contribution of 3% of your eligible salary. If your appointment date is the first of a month, your enrollment begins that month; if your appointment date is any other day of the month, your enrollment begins on the first of the month following your appointment date.
You may also choose to contribute an additional 2% that Vanderbilt will match dollar-for-dollar.
You may contribute up to IRS limits.
If your salary puts you into what Section 414(q) of the Internal Revenue Code defines as ‘highly compensated’ during the remainder of the calendar year in which you are hired, the Vanderbilt match will cease on the first of January after your appointment date. Your matching contributions will resume when you reach the one-year anniversary of your appointment date.
For more information, please call the Employee Service Center at 615.343.7000.