University of Notre Dame 403(b) Retirement Plan (Choice-Eligible Grandfathered)

The 403(b) Retirement Plan (the “403(b)” Plan) is a defined contribution plan under Section 403(b) of the Internal Revenue Code.

Eligibility

Certain non-exempt staff in the UND Employees’ Pension Plan who elected, as part of the 2017 Retirement Plan Choice offering, to transfer to the 403(b) Plan are eligible to participate in this plan.

University and Employee Contributions

Upon transferring to the 403(b) Plan, the University began contributing 5% of your regular salary to the plan. You may voluntarily contribute a percentage of your regular salary to the 403(b) Plan. Each pay period, the University will make matching contributions to the 403(b) Plan on your behalf in an amount equal to 100% of the first 5% of your regular salary if you elect to make a voluntary contribution for that pay period.

“Regular salary” means:

  • If you are paid on a salaried basis, the contractual or base salary paid to you by the University while you are a Participant in the 403(b) Plan that is included as wages on your Form W-2.
  • If you are paid on an hourly basis, compensation recorded in the University payroll system as regular hourly pay, overtime, shift differential pay, tip income and pay reflected in those payroll codes designated by the University as 403(b) plan eligible.

Contributions made by the University are vested immediately. University Contributions (10%) and Matching Contributions (if applicable) are made on a pre-tax basis. Voluntary Employee Contributions can be made on either a pre-tax or Roth after-tax basis.

Investment Options

The University’s 403(b) Investment Committee has chosen an array of investment options designed to accommodate most investors’ needs and that it regularly monitors for performance and cost. To make it easier to navigate the investment options, they are grouped into three tiers:

  • Funds in Tier I consist of low-cost Target Date Funds managed by Vanguard.
  • Funds in Tier II are Core Fund options and include a fixed annuity option through MetLife as well as four passively managed (index) funds managed by Vanguard.
  • Tier III includes Specialty Funds that have been selected to provide access to additional categories of passively managed funds, as well as actively managed funds. These include four funds managed by Vanguard, PIMCO, DFA and Dodge & Cox.

A self-directed brokerage account through Fidelity BrokerageLink® is also available, but it is important to note that the investments available through Fidelity BrokerageLink® are not monitored.

Recordkeeper

Fidelity Investments is the provider of recordkeeping services for the UND 403(b) Plan. As service provider, Fidelity maintains transactional records and provides quarterly statements, provides education, retirement planning guidance and communication services as well as assisting with compliance and regulatory requirements.

Learn more

For additional information, visit the UND 403(b) Retirement Plan website at netbenefits.com/nd or schedule a one-on-one consultation with a Fidelity Retirement Planner.

To schedule a confidential consultation, contact Fidelity Investments at 877-963-0242 or visit netbenefits.com/nd. Consultations may be conducted in person or over the phone.

For additional information about guidance from Fidelity, please see the UND 403(b) Retirement Plan Retirement Guidance brochure (PDF).

For additional questions or information, please contact:

askHR Customer Service Center
200 Grace Hall
Phone: 1-574-631-5900
Fax: 1-574-631-8263
Email:askhr@nd.edu


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