Legacy Retirement Plan For Faculty and Exempt Employees Hired Before 3/1/01


Faculty and exempt employees who are regularly scheduled to work 1,000 or more hours per year (i.e., 51% or more time) are generally considered eligible to participate in the plan* and may receive University contribution. Faculty and staff working less than 1,000 hours per year may make voluntary contributions to the plan.

*Retirement benefits for eligible employees may vary in several ways; percent time worked and employee group are primary factors.


Basic Contribution

As an eligible Plan participant, you must make a basic employee contribution of 2% of your retirement-eligible salary as a condition of employment, starting on the first day of the month following six full months of employment.

University Contribution

You will be eligible for a monthly University contribution to the Plan on your behalf, also determined as a percentage of your eligible salary, beginning the first of the month following completion of six months of employment. University Contributions vary depending upon your age and years of service. The following table illustrates the different levels of employee and University contributions:

Basic Employee Contribution

University Contributions
For Employees Below Age 55

University Contribution
For Employees Ages 55 Or Above
Effective the first of the month
following your 55th birthday





Voluntary Contribution

Eligible faculty and exempt employees may make additional voluntary contributions starting on the first day of the month following their date of employment. The minimum contribution is $200 per year. You may change your level of additional voluntary contributions monthly in Workday.

Maximum Deferral

Your maximum voluntary contribution, otherwise known as the maximum elective deferral, is established by federal guidelines. Your mandatory employee contributions to the Plan (i.e., 2%) are not counted as part of your contribution limit.

Annual contribution limits as set by the IRS for the current year.

Your employment status, percent time, salary, and leaves of absence may affect the amount you can defer. Additionally, the contribution limit set by the IRS applies to all retirement plans with elective deferrals in which you may be participating, such as another employer's 401(k) or 403(b) plans.

If you are, or will be saving for retirement through another personal plan or another employer's plan, you should inform the Benefits Office representative at your new hire orientation, so that we can assist you with identifying the applicable limit for your contributions.


As a participating eligible employee, you are fully and immediately vested in this Plan.

Contact Us

If you have questions about the information contained in any of these summaries, please contact the Benefits Office by phone at 401-863-2141 or via email at: Benefits_Office@Brown.EDU.

 The information available above represents a summary of the plan's eligibility and benefits. In the event of a conflict between the above information and the plan document, the plan document will apply.