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  • Retirement Plans
  • About Duke's Plans

About Duke's Retirement Plans

Retirement Plans Overview

The Retirement Plans Overview presentation is designed to provide you with a general overview of Duke's Employees' Retirement Plan (ERP) and Faculty and Staff Retirement Plan (403b). If you have additional questions about your retirement benefits after viewing this presentation, please contact Duke Benefits at (919) 684-5600 or email benefits@duke.edu.

Learn more about the Duke Faculty and Staff 403(b) Retirement Plan by meeting with a Fidelity representative.

Duke offers two different types of retirement plans. Eligibility for participation in these plans is determined by whether you are paid biweekly or monthly. Both plans provide a comparable retirement income. Download a PDF showing how the plans differ.

Biweekly Paid Employees

Biweekly paid employees are eligible for two Duke retirement plans — the Employees' Retirement Plan and the Faculty and Staff Retirement Plan. The Employees' Retirement Plan is a traditional defined benefit pension plan paid for entirely by Duke. The Duke Faculty and Staff Retirement Plan is a 403(b) plan, funded by your voluntary pre-tax or Roth 403(b) after-tax contributions.

Monthly Paid Employees

Faculty and monthly paid staff are eligible for the Duke Faculty and Staff Retirement Plan. This 403(b) plan is funded both by your voluntary pre-tax or Roth 403(b) after-tax contributions and Duke's contributions.

Benefits of Investing in the Duke 403(b) Retirement Plan

By investing in your Duke 403(b) tax-qualified plan, you can save for your retirement through the following features:

Duke's Tiered Investment Program

Duke’s Investment Advisory Committee (IAC) selected the investment lineup. The role of the Investment Advisory Committee is to ensure that you have access to quality investment options at the lowest reasonable cost. The IAC is comprised of key Duke University and Duke University Health System administrators and faculty who work closely with expert consultants who specialize in investment management. The IAC has chosen a group of funds they will continue to regularly monitor to ensure that they remain appropriate investment options for Duke’s plan.

Your investment options are grouped in tiers to make it easier to navigate your investments.  Funds in Tier 1 and Tier 2 have been specifically selected by the IAC for the Faculty and Staff Retirement Plan based on their suitability for use in a diversified retirement savings portfolio and their competitive expense level.  These funds are benchmarked annually to ensure that their performance and cost remain competitive. Funds in Tier 1 and 2 are monitored regularly by the IAC. Tier 3 offers a self-directed brokerage account for investors who wish to use funds that are outside of the monitored options. Investments you select through the Tier 3 brokerage account are not monitored by the IAC.  For more information about the tiered investment lineup, please visit Tiered Investment Choices.

Pre-tax Contributions

You contribute a specified amount or percentage of your pay, by payroll deduction, before income tax withholding is calculated. This reduces your current taxable income and lets you save money that otherwise would have gone toward income taxes.

Current taxes on contributions to your account, and on interest and earnings from the account, are deferred until withdrawal or until you begin receiving regular payments. Please Note: Investment values will fluctuate so that an investor's units, when withdrawn, may be worth more or less than the original cost.

Roth 403(b) After-tax Contributions

You contribute a specified amount or percentage of your pay, by payroll deduction, after income taxes are withheld. This reduces your take home pay because the amount contributed is includible in gross income, however eligible Roth 403(b) distributions (including earnings) are generally tax- free. Click here to learn more about Roth.

How to Enroll in Your Duke 403(b) Retirement Plan

In order to enroll in the plan, you must know how much you would like to contribute, what portion of your contribution will be pre-tax or Roth after-tax, and where you would like your contributions invested.

Benefits

  • Medical, Dental, & Vision Benefits
    • Medical Insurance
      • Plan Comparison (2022)
      • Premiums (2022)
      • HMO Plans
      • PPO Plans
      • Medical Benefits Abroad
      • Retiree Health Insurance
        • Duke Plus
        • Early Retiree Health Plans
      • Health Management Programs
      • Infertility Benefits
      • Bariatric Surgery
      • 1095-C Tax Form
    • Dental Insurance
      • Plan Comparison (2022)
      • Premiums (2022)
    • Vision Insurance
      • Plan Chart (2022)
      • Premiums (2022)
      • How to Use the Plan
    • Pharmacy Benefits
      • Covered Drugs
      • Frequently Asked Questions
      • Retail Pharmacy Vaccinations
    • Behavioral Health and Substance Abuse Benefits
      • Providers
      • Treatment of Autism Spectrum Disorder
    • Enroll/Make Changes
    • Coverage & Eligibility
    • Find a Network Provider
    • Privacy Practices
    • Required Notices
  • Reimbursement Accounts
    • Your Personal Account
    • Health Care Account
      • How to File a Claim
      • How to Manage Your Account
      • Health Care Card
      • Eligible & Ineligible Expenses
      • Orthodontia
      • IRS Rules
      • Frequently Asked Questions
      • IIAS-Compliant Merchants
    • Dependent Care Account
      • How to File a Claim
      • What's Covered?
      • Managing Your Account
    • How the Plan Works
    • EZ Receipts Mobile App
    • Appeal a Denied Claim
    • When Participation Ends
    • Legal Information
    • Changes for 2020 and 2021 Reimbursement Accounts
  • Employee Discounts
    • Vendor Registration Form
    • Vendor Information
  • Retirement Plans
    • Enroll or Make Changes
      • Enroll in Your Duke Retirement Plan
      • Making Changes
      • Roth 403(b) Contributions
      • Vesting of Duke's Contribution
      • Transfer Funds
      • Request a Withdrawal or Loan
        • CARES Act Distributions and Loans
    • About Duke's Plans
      • Employees' Retirement Plan (Non-Exempt)
      • Faculty/Staff Retirement Plan (Non-Exempt)
      • Faculty/Staff Retirement Plan (Exempt)
        • Duke's Contribution
        • Service Requirement Waiver
        • Suspension of the Duke Contribution FAQ
        • Restoration of the Duke Contribution FAQ
        • Additional Duke Contribution FAQ
      • 457(b) Deferred Compensation Plan
    • Tiered Investment Choices
      • Target Date Funds
      • Your Default Investment Options
      • Self-Directed Brokerage Account (BrokerageLink®)
      • TIAA Traditional Annuity
    • Investment Carriers
    • Investment Performance
    • Retirement Planning Guide
    • Frequently Asked Questions
    • Recent Fund Changes
    • Retirement Appointment Request
  • Time Away From Duke
    • Holidays, Vacation & Sick Time (University)
      • Holiday Schedule (2022)
      • Additional Days Off (Dec. 1, 2020 - Feb. 28, 2021)
    • Paid Time Off (DUHS)
      • How it Works
      • Time & Attendance
      • Swipe & Go
      • Policies
      • Banks
      • Frequently Asked Questions
      • Glossary
    • Leaves of Absence
      • University - Employee FMLA
      • University - Family FMLA
      • Health System Employee/Family FMLA
      • Care for Injured Service Member (FMLA)
      • Qualifying Exigency (FMLA)
      • Leaves of Absence: Effects on Benefits
    • Paid Parental Leave
      • Paid Parental Leave Changes - August 3, 2020
    • Kiel Memorial Vacation/PTO Donation Program
      • Donations
      • Recipients
      • Important Timelines
      • Payment Process
      • Frequently Asked Questions
    • Other Work Absences
  • Educational Benefits
    • Employee Tuition Assistance
      • Eligibility
      • How to Apply
      • Reimbursement
      • Departmental/Manager Responsibility
      • Frequently Asked Questions
    • Children's Tuition Grant
      • How to Apply
      • Employee Eligibility
      • Child Eligibility
      • Online Application for Participating Schools
    • Undergraduate Admissions Workshops
  • Family-Friendly Benefits
    • Lactation Support Services
    • Duke Child Care Partnership
    • Duke Children's Campus
      • Part Time Childcare Procedures
      • Wait Pool Registration
    • The Little School at Duke
      • Wait Pool Registration
    • Choosing Child Care
    • Child Care Tuition Subsidy
    • Flexible Work Options
      • Flextime
      • Compressed Work Schedules
      • Job Sharing
      • Abbreviated Schedule or Part-Time Work
      • 10- and 9-Month Arrangements
      • How to Introduce
      • Guidelines for Success
      • Frequently Asked Questions
  • Financial Security Benefits
    • Financial Fitness Resources
    • Plan Comparison
    • Disability Benefits
      • Duke Disability
        • Eligibility
        • When Am I Covered?
        • Filing for Benefits
        • Amount of Coverage
        • Benefits While Disabled
        • Frequently Asked Questions
      • Voluntary Disability
        • Short Term Disability
        • Long Term Disability
        • Choosing Coverage
        • Enrollment
        • Cost
        • How to File a Claim
        • Frequently Asked Questions
      • Department Manager & Payroll Representative Info
    • Life Insurance
      • Basic Life Insurance
      • Supplemental Life Insurance
        • Supplemental Life Insurance Rate Table
      • Personal Accident Insurance
        • Eligibility
        • Coverage
        • Benefits
      • Business Travel Assistance
        • Stateside Travel
        • Travel/Accident Insurance
      • Insurance Certificate
      • Post-Retirement Group Term Life Insurance
      • Survivor Benefit
      • Universal Life Insurance
      • Plan Information
      • Your ERISA Rights
    • Long Term Care Insurance
    • Property Insurance
    • Duke Credit Union
  • Benefits Unique to Duke
  • Employee Appreciation
    • Presidential Award
    • Career Service Awards
  • Benefits Enrollment
    • Open Enrollment 2022
      • What You Need To Know
      • Medical Plan
        • Plans Comparison
        • Premiums
        • Preventive Care
      • Dental Plan
        • Plan Comparison
        • Premiums
      • Vision Care
        • Plan Chart
        • Premiums
      • Pharmacy Benefits
      • Behavioral Health and Substance Abuse Benefits
      • Health Care Reimbursement Account
      • Dependent Care Reimbursement Account
      • Supplemental Life Insurance Special Enrollment
    • Information for 4th Quarter (Oct - Dec) New Hires
    • Contact a Plan Provider
    • When Can I Enroll?
    • Life Events Information
      • Getting Married
      • Getting Divorced
      • New Child
      • Death in the Family
      • Leaving Duke
        • COBRA Continuation Insurance
        • Eligibility for Retiree Health
        • Severance Overview
    • Same Sex Spousal Equivalent Information
      • Reimbursement Accounts
    • Benefits Payroll Deduction Schedule
  • Summary Plan Descriptions & Required Notices
    • Summary Annual Report for the Welfare & Fringe Benefits Plan
    • Summary Annual Report for Faculty/Staff Retirement Plan
    • Summary Annual Report for the Retiree Health Plan
    • Summary of Material Modification

Human Resources

Duke Human Resources
705 Broad St. Box 90496
Durham, NC 27705
Phone: (919) 684-5600
Have questions?

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