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Defined Contribution Retirement Program/403(b)

PLAN INFORMATION
Wayne State University offers this plan as part of workplace benefits. Now is a great time to understand what is offered - think about taking advantage of any opportunities to save and invest for the future. 
Learn what plans allow eligible employees to do.
What Contributions options are available?
 
The WSU Retirement Plan provides matching contributions beginning at 1% on a 2-for-1 basis.  The University Contribution maximum is 10%, once you contribute 5%. (See schedule below)
 
Employee Contributions
University Matching Contributions
1%
2%
2%
4%
3%
6%
4%
8%
5% or more
10%
 
What is the Maximum amount of Employee Contributions?
 
For calendar year 2021, the amount is limited to $19,500.  If you are over age 50, you may contribute an additional $6,500. The maximum includes any Employee Contributions made to plans sponsored by other employers. For any one pay date, WSU does not permit you to make Employee Contributions of more than 80% of your gross pay (to both the base plus supplemental plans).
 
When am I Eligible for University Contributions?
 
The University Contributions begin after you are age 26 and agree to make employee contributions of at least 1%. There is no waiting period for University Contributions (except age 26).
The Employee contributions are fully vested at all times. Fully vested means the amounts cannot be forfeited, even if you terminate your employment with WSU.
 
Your accumulated University contributions and related earnings revert back to the University if you terminate from WSU before you have 2 years of service.
EXPLORE OPTIONS
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Learn which mutual funds and other investments are available

You can enroll now
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Enroll or make changes in your plan(s) today

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