2008 Retiree Benefits Open Enrollment Brochure
(What's New For 2008)

2008 Retiree Health Plan Comparison Chart

2008 Retiree Health Plan Comparison Chart Age 65 or Over

2008 Retiree Health/Dental Rates

Tufts Medicare Preferred Application

Harvard Pilgrim First Seniority Freedom Premier Application

Tax Deferred Account Investment Choices

Pension Investment Choices

Retirement planning @ Harvard provide long-term security

Harvard’s a great place to work – and it’s also a great place to retire from. For example, professional and administrative staff, non-bargaining unit support staff, and members of the Harvard Union of Clerical and Technical Workers (HUCTW) on regular payroll and working at least 17.5 hours per week (1,000 hours in a year) are eligible to participate in the Pension Plan. Harvard’s pension benefits help you build long-term savings and a source of income after you retire from the University. The University pays the full cost of the Pension Plans.

And through the Tax-Deferred Account Program, you can add to your pension savings by contributing a portion of your salary to a (Tax Deferred Account Program) TDA on a pre-tax basis. You pay no federal or state taxes on these savings or the investment income until you withdraw your funds.

Eligible faculty and staff can also take advantage of Harvard’s post-retirement health benefits. Retirees under the age of 65 even have access to the same Harvard health plans offered to active employees at the same cost. For retirees age 65 and older, Harvard provides a choice of plans to supplement Medicare and contributes to the plan based on length of employment at Harvard.

The University provides a number of generous, competitive pension plans. For most staff, once an employee is with the University six months the University contributes to their pension plan retroactive to their hire date. Each month the University contributes 5% of salary below the social security wage base to those under age 40, and 10% of salary below the social security wage base for those age 40 or over. For earnings above the social security wage base, the percentage is higher; 10% and 15% respectively. Participants direct where these contributions are invested.

In addition, the University provides free lunch-time educational seminars for employees on a variety of financial planning topics including the basics of investing, as well as topics for the more seasoned investor.