University of Notre Dame 403(b) Retirement Plan

Last Updated 01/12
Applies to Faculty and Exempt Staff
Related Policies:


The University of Notre Dame 403(b) Retirement Plan provides tax-deferred contributions for eligible faculty and exempt staff. Contributions are made to the plan by both the participant and the University and contributions are vested immediately.


Participation is mandatory for faculty and exempt staff after meeting the one-year eligibility requirement. Prior service at an accredited college or university or not-for-profit research laboratory or governmental research laboratory may apply toward the eligibility period.
Participation is voluntary for all faculty and exempt and non-exempt staff wishing to make Voluntary Employee Contributions and are immediately eligible.


  • Normal Retirement – age 65 with at least five years of service
  • Early Retirement – either age 55 with 15 years of service or age 62 with 10 years of service, whichever occurs first
  • Faculty Salary – academic year contract salary plus eligible summer salary
  • Exempt Staff Salary – base annual salary
  • Tax Deferred – contributions which are not taxed when made, but are taxed when the benefit is received

Mandatory Contributions

Faculty and exempt staff contribute a 5% Mandatory Employee Contribution of their regular salary through payroll deduction. The University contributes 10% of the individual’s regular base salary. Regular salary means the contractual or base salary paid by the University and also includes certain summer salary for faculty.

Voluntary Employee Contributions are a minimum of $120 per year and a maximum per regulatory requirements.

Investment Options

Participants determine how contributions are allocated among an array of investments designed to accommodate most investors needs. Additional details and information on investment options is available at Fidelity is the Plan’s provider of record keeping services.

Beneficiary Designation

All participants are asked to name a beneficiary when they become eligible to participate in the retirement plan. If married, under law the spouse must be a beneficiary of at least 50% of the account balance unless the spouse signs a waiver. Beneficiary changes should be made through online at

Death Benefits

If a participant dies before beginning retirement income, the full current value of accumulations are payable as a death benefit to the beneficiary. A consultation with a Fidelity Planning & Guidance Consultant is recommended.



Information on participation and enrollment in the 403(b) Retirement Plan is made available initially to all employees at the time of their Onboarding with the University. Subsequent information and assistance is provided to faculty and exempt staff by the Office of Human Resources upon attaining eligibility.

Additional Information

Individual Retirement Counseling Sessions for 403(b) Participants
403(b) Universal Availability Notice (DOCX)