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Administrative & Professional Faculty Resource Book

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Administrative & Professional Faculty Retirement & Investment Benefits

Important: Not all A&P Faculty members are enrolled in the Virginia Retirement System and therefore not all of the benefits listed on this page may be accessible to you. Please contact Human Resources to determine your status.

Virginia Retirement System (VRS)
VRS furnishes a retirement benefit to enrolled employees. The State and the University share the cost of providing this important benefit to employees. VRS, which is a defined benefit plan, has a five- year vesting period before you are eligible for a retirement annuity. If you separate from university employment, you may choose to withdraw retirement contributions. The refund of contributions is not automatic; you must request the refund.

For additional information please refer to your Handbook for Members published by VRS.

Supplemental Retirement Accounts:

Roth IRA
The Roth IRA allows you to invest up to $3,000.00 a year in a tax-advantaged retirement account and you must work in order to contribute. Contributions are made with after-tax dollars, but are tax- free at the time of withdrawal. Contact the Benefits Service Center for information on the individual companies.

Tax Deferred Annuities-403(b) and 457 Accounts
The University provides the opportunity for employees to supplement retirement through tax-deferred annuities. These are employee only contributions and provide pre-tax deposits toward a supplemental retirement account. The University works with designated companies. If you are interested in a tax deferred annuity program, please contact the Benefits Services Center for information on the individual companies. You are responsible for ensuring that your contributions are in compliance with IRS regulations concerning tax-deferred contributions.

Employer Match Program
JMU offers an Employee Match Program to all full-time employees. You must first establish a supplemental retirement account, which can be started at any time after employment. The employer match is a ½ match program with the maximum per pay period being $20.00. Example: You contribute $40.00 per period to your supplemental retirement and JMU with match $20.00 per pay period; if you contribute $20.00 per pay period, JMU will match $10.00 per pay period. Your supplemental retirement account is a 403(b) account and is the money you contribute while the match is a 401(a) account and is the money that the University contributes