Health Programs

XIV. Retirement and Benefits Programs

A.   Retirement Programs

Faculty members become eligible for the University contribution to the 403(b) Base Retirement Program upon a benefits eligible appointment at 50% time or more in the Health Programs Faculty Appointment System. Participation in the 403(b) Base Retirement Program is initially voluntary; enrollment is mandatory at age 35 and 24 full‐time equivalent service months. Participation in the 403(b) Supplemental Retirement Program and/or 457(b) Deferred Compensation Plan is optional at any time. The 403(b) Base Retirement Program is financed by a reduction of 5% from the HP faculty member's base salary and a matching University contribution of 10%. The University will only contribute retirement benefits on the base component of an HP faculty member's salary, up to the IRS salary cap. The University will not contribute retirement benefits on the HSRC or IDP component of the faculty member's salary.

B. Other Benefit Programs

HP faculty are eligible for the benefit programs described in the Faculty and Academic Staff Retirement and Benefits section of the Faculty Handbook .

Enrollment in optional benefits, e.g., health coverage, must take place within 30 days of the initial HP faculty appointment, during an open enrollment period, or in some cases by furnishing evidence of insurability.

Back to Health Programs Faculty Appointment System Handbook
 

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