Restoration of Duke Contribution
After a temporarily suspension the Duke contribution to the Faculty and Staff Retirement Plan from July 1, 2020 through June 30, 2021, Duke announced it will restore the employer contribution retroactive to Jan. 1, 2021. Click here to learn more.
Eligible faculty and staff that are paid monthly may participate in the Duke Faculty and Staff Retirement Plan. The Faculty and Staff Retirement Plan for monthly employees is a program that is funded both by your and Duke's contributions.
When Participation Can Begin
In general, Duke may make contributions on your behalf after you have completed one year of service and have attained age 21. You may be eligible to waive the one year wait for the Duke contribution if your hire date with Duke is within 90 days of your date of termination with your immediate previous employer and you were receiving fully vested employer contributions or accruals under a Code Section 403(b), 401(k), or 401(a) retirement plan maintained by the prior organization. Your immediate previous employer must be an organization as described in Section 501(c)(3) of the Internal Revenue Code (the Code) (examples: churches, schools, colleges/universities, hospitals, medical research organizations, some publicly supported/ community organizations) or a state educational organization as described in the Code Section 403(b)(1)(A)(ii). It is your responsibility to provide proof of participation with your previous employer's plan. Click here to learn more.
Enrolling and Selecting Your Investment Options
The Faculty and Staff Retirement Plan is an important part of your benefits at Duke. This plan allows you to save for your retirement. This guide contains useful information that will help you enroll in the plan and select investment options.
Summary Plan Description
Please refer to the Summary Plan Description for further details on plan benefits, eligibility, and the investment options available.