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RETIREMENT PLANS

Summary Plan Description

Please refer to the Summary Plan Description for further details on plan benefits and the investment options available.

 

Faculty and Staff Retirement Plan

Faculty and staff paid monthly are eligible for the Duke Faculty and Staff Retirement Plan. The Faculty and Staff Retirement Plan is a program that is funded both by your and Duke's contributions.

When Participation Can Begin

Duke may make contributions on your behalf after you have completed one full year of service and have attained age 21. You may be eligible to waive this one year wait if your immediate previous employer was an organization described in Section 501(c)(3) of the Internal Revenue Code or a state educational organization where you were receiving employer contributions under a Code Section 403(b), 401(a) or 401(k) retirement plan. You must provide proof of participation with your previous employer's plan when you enroll in Duke's plan. In the event you are not currently an eligible employee, you may participate if you become eligible, and Duke's contribution may commence at that time if you have attained age 21 and met the service requirements.

If you are a professor, associate professor or in a fringe benefit category #1 (or such subsequent designation selected by Duke), you may participate and Duke's contributions may commence upon employment, if age 21 or older at the time of employment. Should you have questions about immediate university contribution from Duke please contact the HRIC at 684-5600.

*Those not eligible to participate are eligible to participate in the Savings for Retirement Plan. 

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