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Purdue University HR Interactive Retirement Guide


Participation Service Requirements

Vesting period - 3 Years of service required in a benefits eligible postion before Employee "owns" the Employer contributions made to retirement.

Waiting period - 3 Years of service in a benefits eligible position before Employer contributions are made.

Waiting Period Waiver - Waiver provides immediate participation for eligible administrative/professional and visiting faculty who meet certain criteria.

(Employer contributions begin the 403(b) Defined Contribution (Base) without serving the required 3 year Waiting Period)

Plan Description

PERF - Public Employees Retirement Fund (includes Defined Benefit (DB) and Annuity Savings Account (ASA) plans).

NE DC Matching 403b - Non-Exempt Defined Contribution plan, replaces PERF for new employees effective 09/09/2013 4% employer contributions to DC Base 403b, 5% employee contributions to 403b Vol (employee may change % anytime) employer matches up to 4% employee contributions.

DC Mand 401a - 401a Mandatory plan (4% employee contributions).

DC Base 403b - 403b Defined Contribution plan (10% employer contributions).

Employee Group

For employee group information, visit http://www.purdue.edu/hr/Benefits/currentEmployees/employeeBenefits/eligible_emps.html.

Employment Actions

Rehire - Employees will participate in the plan associated with their new position . Prior service within the last 5 years will be considered for vesting purposes.

Reclass - Positions reclassified (University-initiated)�to a different staff group.

Transfer (lateral, promotion, demotion) - Employees who voluntarily�transfer or change positions participate in the plan that is associated with that staff level.

For additional benefit information regarding staff classification changes, visit http://www.purdue.edu/hr/Benefits/currentEmployees/employeeBenefits/eligible_dependents.html. Please direct questions to the HR Service Center at 765-494-2222 or hr@purdue.edu.

New Retirement Plan Details

Contribution Level

Employment Action

(9/9/2013 or after)

Employee Group Change Retirement Plan Participation
Prior to Employment Action
Has Employee Met 3 Year
Participation Requirement?

(Pick an item from the first column to start)