University of Notre Dame 403(b) Retirement Plan (Mandatory for Faculty and Staff)

Last Updated 12/18
Applies to Faculty, Exempt and Non-Exempt Staff


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


Participation is mandatory for regular faculty and staff after meeting the one-year-of-service 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.

All faculty and staff wishing to make Voluntary Employee Contributions are immediately eligible to do so.


  • 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
  • Non-Exempt Staff – regular salary plus overtime, shift differential and tips
  • Year of Eligibility Service – for temporary or part-time employees, a year in which he or she works at least 1,000 hours; for all others, a year of elapsed time

Mandatory Contributions

Eligible faculty and 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 as defined above.

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 403(b) 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 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 Retirement Planner 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 orientation with the University. Subsequent information and assistance is provided to faculty and 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 (PDF)