The Employees’ Retirement Plan, commonly referred to as the ERP, is a traditional defined benefit pension plan. The benefit you receive is calculated using a formula based on your age, pay, and years of service. The Plan plays an important role in your future by working with Social Security benefits and your personal savings (including your voluntary contributions to the Duke University Faculty and Staff Retirement Plan) to help provide you with lifetime income when you retire. The cost of the Plan is paid entirely by Duke.
How the Plan Works
The Employees’ Retirement Plan is available to biweekly paid employees regardless of whether you are employed at Duke University or Duke University and Health System. Membership in the Plan is automatic once you meet the eligibility requirements and you become vested after five years of continuous service. The benefit is calculated based on your years of credited service. The Plan offers a variety of retirement dates to give you more flexibility in deciding when to retire.
How Your Benefit is Calculated
The ERP benefit you receive is calculated based on a formula using your average final earnings, years of credited service in the ERP, your age and the payment option you select.
Pension Plan Projection
If you are or have been a biweekly paid employee, you can estimate your pension benefit from the Employees' Retirement Plan based on various retirement dates or ages.
Summary Plan Description
Refer to the Summary Plan Description for further details about the plan.
Frequently Asked Questions
Find answers to the most common questions you may have about the ERP Plan.