Human Resources
Office of Faculty & Staff Benefits
Office of Faculty & Staff Benefits

Defined Contribution Retirement Plan

In the Defined Contribution Retirement Plan (403 (b) Plan), building retirement income is a shared responsibility between you and Georgetown University. With this Plan, you and Georgetown University work together to invest in your future. Your retirement account balance grows based on:

Once you are eligible, contributions to the Plan (yours and Georgetown University’s) are made to your account every pay period, giving your account the opportunity to grow throughout the year. Not only will the account grow with contributions, it also has the potential to grow as a result of investment returns on your balance that may be realized throughout the year. You decide how to invest these contributions by choosing among a variety of funds offered by Fidelity Investments, TIAA and Vanguard. All investment earnings and/or losses are reflected in your account.

Eligibility

All benefits-eligible faculty, AAP and staff who are at least 18 years old and whose position is at least half Full Time Equivalent (“FTE”) or who are regularly scheduled to work at least 20 hours per week.  Fellows are not eligible to participate in this plan.

There is a Phased Waiting Period before new employees are eligible to participate in or receive full University contributions under the DCRP. You may change your retirement vendor, fund allocations and employee contribution at any time. 

Phased Waiting Period and Exceptions

Enrollment and Contributions

Once your eligibility is confirmed, you will be automatically enrolled in the DCRP to contribute 3% of earnings on a pre-tax basis with such amounts invested in a TIAA LIFECYCLE Fund.  You may log in to GMS to opt out of, or decrease the DCRP 3% automatic election and/or select different retirement vendors and/or investment fund allocation(s). Based on your employee contribution, you would receive a “matching contribution” from the University as illustrated below:

Upon completion (or waiver) of the waiting period, the University will automatically contribute a non-elective contribution of 5% of earnings. This brings the University and Employee combined contributions to up to 13% of salary.

When you participate in this Plan, you can contribute no more than 3% of your compensation.  However, you may supplement your retirement savings, if you wish, by participating in the Voluntary Contribution Retirement Plan .

Annual Automatic Enrollment and Escalation on January 1st

Many retirement planning experts recommend employees save 15% of their income to prepare for retirement. You have the ability to opt out or adjust your retirement savings options in GMS at any time.

Each January 1st, all employees who are eligible for the DCRP who are currently contributing less than 3% of their eligible pay will be automatically enrolled at 3%. This change aims to encourage increased retirement savings and ensure all eligible employees receive the maximum matching contribution from the University.

  • If you are in Phase One of the DCRP waiting period and are contributing less than 3% to the Voluntary Contribution Retirement Plan (VCRP), your contributions will be automatically increased to 3% in the VCRP.
  • If you are enrolled in the DCRP and are contributing less than 3%, your contributions will be automatically increased to 3%, and you will receive the corresponding maximum contribution from the University.
  • If you are enrolled in the DCRP and are already contributing 3%, there will be no change to your DCRP contributions.

For individuals enrolled in the DCRP and contributing 3%, there will be automatic contribution escalations to the Voluntary Contribution Retirement Plan (VCRP).

  • Beginning on each January 1, this contribution percentage will increase by 1% annually, until you reach a maximum contribution of 12% in the VCRP.
  • If your current contribution is a specific dollar amount, it will be converted into a percentage and increased to the nearest whole percentage.
  • If you are already contributing the maximum employee contribution amount allowable by the IRS there will be no change to your contribution. 

This automatic escalation feature will not apply if you are in Phase One of the DCRP waiting period.

Where Do My Contributions Go? 

Each month, Georgetown University remits your contributions, along with the University contributions, to whichever investment company(ies) you have chosen. You may choose from three investment companies:

The investment companies, in turn, invest the contributions in the specific fund or funds you have chosen. Each company offers a variety of investment options, ranging from conservative to aggressive. Georgetown University contributions are allocated proportionately to your contribution allocation. You may split your investments in any way you like, however many employees find using more than one vendor leads to unnecessary paperwork upon withdrawal.

Is There A Limit on My Compensation For The Purposes Of Contributions To This Plan?

Yes, in 2026 there is a limit of $265,000 earnings recognized for Plan purposes. When your contributions reach the limit for a given Plan Year (calendar year), Georgetown University will automatically suspend your contributions (and the corresponding University contributions) for the remainder of the Plan Year, and subsequently re-start contributions when the next Plan Year begins.

Therefore, the maximum employee contribution to this Plan is $7,950 per year ($265,000 multiplied by 3%). The maximum employer contribution to this Plan is $26,500 for employees enrolled on or after January 1, 1996 and $30,600 for employees enrolled on or before December 31, 1995.

Are There Limits On Contributions To The Plan? 

Yes, your contributions are limited by IRS regulation, not Georgetown policy. It takes into account only employee contributions, but it includes those contributions in: 

IRS Contribution Limits

IRS Limits

IRS Retirement Contribution Limits – 2026

Each year the IRS sets new limits for what employees can contribute to their 403(b) and 401(k) retirement plans. Employees who will turn ages 60-63 have the opportunity to make increased pre-tax…

January 29, 2026

IRS Limits

IRS Retirement Contribution Limits – 2025

Each year the IRS sets new limits for what employees can contribute to their 403(b) and 401(k) retirement plans. Starting in 2025, employees who will turn ages 60-63 have the opportunity to make…

January 29, 2026

Making Changes

Once enrolled in the Plan, you may make changes at any time. The following are examples of changes you may wish to make, and the directions for how to make those changes:

They will outline the steps necessary to affect the transfer. Please note that this will not change, in and of itself, the directions regarding where you want your future contributions to go. If you wish to move your existing account balance to another investment company, and begin making future contributions to that company, simply combine this step with the first step listed above.

Updates On My Account Balance

Once you are enrolled in the plan, you will begin to receive quarterly statements from the investment company(ies) indicating amounts contributed and returns generated by the investments. You also have the ability to view your account balance at any time you wish via the internet, since each investment company offers you the ability to view your account on-line. You must establish a separate password with each investment company to use this feature, as it is not connected with your NetID or GMS in any way.

Distribution Rules For Participants Who Are 73 Or Older

As long as you are employed, you are not required to take a distribution from this plan, regardless of your age. Once you terminate employment, you are required to take a minimum distribution from the plan once you attain age 73. Contact your vendor (Fidelity, Vanguard, or TIAA) to do so.VestingVesting means the granting to an employee of credits toward a pension even if separated from the job before retirement. You are always 100% vested in your account balance in this plan. Therefore, you are entitled to all the funds in your account, regardless of how long you have been employed at Georgetown when you terminate.

What Do I Do When I Retire or Terminate Employment?

Leaving Georgetown Resources

When you terminate employment at Georgetown University for any reason (voluntarily, non-voluntarily, due to retirement, etc.), you have full access to all funds accumulated in the Plan. Funds can be accessed in a variety of forms, including, but not limited to, the following:

*Indicates options available only through TIAA.
Taxes and penalties vary according to distribution option. Please contact the applicable investment company(ies) for more specific information regarding distribution options.

Accessing Funds After Termination

  1. Contact the applicable investment company and request distribution paperwork. The investment company will send the paperwork directly to you.
  2. When you receive the distribution paperwork, complete and sign all appropriate sections. Obtain the spousal signature, if required (including notarization) 
  3. Send the distribution paperwork back to your vendor as indicated on the form. If there is a section on the form prompting you to get Employer Authorization, simply write in “On File.” Our office completes this portion electronically when you terminate employment.

Please note that if you terminate employment and meet the Rule of 75, you are entitled to additional retiree benefits, such as retiree medical insurance coverage and retiree life insurance. If you are planning to retire, we suggest reviewing our Getting Ready to Retire webpage and attending Retirement Orientation at least three months before your retirement date. 

Important Plan Documents and Notices

FAQs

Contact your retirement plan company (Fidelity, TIAA, Vanguard) directly for guidance on preparing the QDRO.

The Defined Contribution Retirement Plan does not accept rollovers. You may roll over money into the Voluntary Contribution Retirement Plan only.

No. There is an administrative delay between the time your contributions are taken from your paycheck and when they are actually posted to your account.  Typically, you should see the contributions posted to your account within ten days. 

Vesting means the granting to an employee of credits toward a pension even if separated from the job before retirement. You are always 100% vested in your account balance in this plan. Therefore, you are entitled to all the funds in your account, regardless of how long you have been employed at Georgetown when you terminate.

The rules regarding an individual’s ability to contribute to an IRA, and the tax deductibility of contributions to an IRA, are complex and depend on many factors that are beyond the scope of your employment at Georgetown. Your marital status, total household income, other sources of income (self-employment income from outside consulting is one of many examples), amount of employee contributions made to our plans, and other factors can impact the type of IRA that is appropriate for you. Consequently, the Office of Faculty and Staff Benefits cannot provide you with guidance regarding IRA contributions. You should contact your tax or investment advisor for assistance.

While working at Georgetown University, you do not have access to the money accumulated in your account(s) for any reason whatsoever. There is limited access to funds accumulated in the Voluntary Contribution Retirement Plan while still working at Georgetown.