We help you save with a tax-deferred 403(b) retirement savings plan. In addition, if you were hired before Jan. 1, 2016, you’re eligible for a pension plan benefit.

Retirement Savings 403(b) Plan

Both you and Johns Hopkins can contribute.

Your contributions

  • You are automatically enrolled with an initial 2% pre-tax contribution unless you elect not to participate.
  • You may choose a percentage or fixed dollar amount of your salary to deposit into your account each pay period on a pre-tax and/or after-tax (Roth) basis (up to IRS limits indexed annually).
  • Your elected contribution automatically increases by 1% annually (up to 10%) on the anniversary of your automatic enrollment date unless you opt out.
  • Your contributions vest at 100% immediately.

Employer contributions*

  • If you were hired on or after Jan. 1, 2016, you are eligible to receive employer contributions in the 403(b) plan after one year of employment during which you worked 1,000 hours or more.
  • You will receive an automatic contribution of 4% of earnings annually.
  • In addition, you’ll receive a matching contribution up to 50% of the first 4% of your contribution to the 403(b) plan (up to a maximum contribution of 2%).
  • Your contributions vest based on your years of service
    • Under 2 years of service – 0%
    • 2 years of service – 25%
    • 3 years of service – 50%
    • 4 years of service – 75%
    • 5 or more years of service – 100%

*To receive these employer contributions, you must be actively employed on Dec. 31 of that year.

Pension Plan

If you were hired before Jan. 1, 2016, you’re eligible for a pension plan benefit.

  • New participation closed effective July 1, 2020.
  • The amount of your pension benefit is calculated using the following formula:
    Your pension benefit = 1% of your final average compensation1 x service (up to a maximum of 40 years).
  • You will be fully vested after 5 years of service.2

1Highest consecutive 3 years out of the last 10.

2Year of service = calendar year working at least 1,000 hours.

Your IRS maximum contribution

In 2022, you may contribute up to $20,500 of your gross income. If you are age 50 or older you can contribute up to an additional $6,500.