Northeastern provides benefits-eligible faculty and staff with Basic Retirement Plan Benefits, once they have completed two years of benefits-eligible service and are at least 21 years of age. Participation in the Basic Retirement Plan is voluntary and contributions can be ceased at any time.
If you are eligible and would like to enroll, you must complete a Northeastern Salary Reduction Agreement (PDF) and return it to HRM/Benefits at 250 Columbus Place. You must also establish an account online with Fidelity and/or TIAA-CREF. These sites allow you to choose your investment options and designate your beneficiaries.
Once enrolled in the Basic Retirement Plan, Northeastern will contribute 10 percent of eligible pay as long as employees contribute 5 percent of eligible pay. Employees are immediately vested in the university's contribution.
Benefits eligible service with another institution of higher education immediately preceding employment at Northeastern (up to four months lapse in time between prior employment and Northeastern employment is allowed) may also be counted toward the two-years-of-service requirement. To apply for a waiver of the two-years-of-service requirement from another college or university, please complete a Retirement Plan and Disability Waiver Form (PDF) and return it to HRM/Benefits at 250 Columbus Place.
For a complete description of the Basic Retirement Plan please refer to the Basic Retirement Plan Summary Description (PDF).