Retirement Plan
Administered by Fidelity
Benefit-eligible exempt, non-fixed term, faculty and staff scheduled to work 1000 hours per year are immediately eligible for the College contribution. After a one-year waiting period, benefit-eligible non-exempt and fixed term faculty and staff scheduled to work 1000 hours per year, are eligible for the College contribution. All employees of Haverford College are eligible to participate in the Haverford College Retirement Plan at any time, through the employee’s own pre-tax, or Roth after-tax, contributions (elective deferrals) to the Plan.
Upon meeting eligibility requirements, the College contributes an amount equal to 10% of base salary each pay period to a 403(b) defined contribution retirement plan. No contribution by the employee is required to receive this 10% College contribution. Additional voluntary contributions can be made to the plan at any time of the year.
The Haverford College Retirement Plan is a “defined contribution” plan covered under Section 403(b) of the Internal Revenue Codes. All contributions to the plan, both Employer and Employee (voluntary) are 100% and immediately vested. (Employee has full and immediate ownership of these contributions.)
PLEASE NOTE: Note: Beginning Nov. 1, 2024, all new hires will be automatically enrolled in a pre-tax retirement plan contribution (elective deferral) of 1% of base pay. Each anniversary thereafter, that amount will increase by .5% until a maximum amount of 5% is reached. Employees may opt-out of this through Fidelity Net Benefits (netbenefits.com).
