Retirement Programs
Our faculty and staff are focused on work that contributes to a better future. Harvard's retirement programs are focused on providing you with a foundation for your future financial security. We offer benefits-eligible employees fully funded retirement plans and programs for personal retirement savings, along with education and planning resources to help you maximize these benefits.
University-funded Retirement Plans
These plans are funded by Harvard. Eligible new faculty and staff will receive an information/enrollment material a few months prior to the end of their waiting period.
The Faculty Plan
For faculty members, Harvard contributes a percentage of your salary based on your age and earnings each month. After a six-month waiting period, you will be automatically enrolled with contributions retroactive to your start date.
- Under age 40: Harvard contributes an amount equal to 5% of your salary up to the Social Security wage base, and 10% of salary above the Social Security wage base ($184,500 in 2026).
- Age 40 and over: Harvard contributes an amount equal to 10% of your salary up to the Social Security wage base, and 15% of salary above the Social Security wage base.
Learn more: Faculty Retirement Plan information sheet I Recorded Faculty Plan Overview
The 2001 Staff Program
For administrative/professional and support staff, Harvard contributes a percentage of your salary based on your age and earnings each month. After a six-month waiting period, you will be automatically enrolled with contributions retroactive to your start date.
- Under age 40: Harvard contributes an amount equal to 5% of salary up to the Social Security wage base, and 10% above the wage base ($184,500 in 2026).
- Age 40 and over: Harvard contributes an amount equal to 10% of salary up to the Social Security wage base, and 15% above the wage base.
Learn more: 2001 Staff Program information sheet I Recorded 2001 Staff Program Overview
The 1995 Staff Program
This program is for eligible services and trades union members. Harvard contributes to two accounts on your behalf: a Basic Retirement Account and an Individual Investment Account (where you choose your investments). You will be automatically enrolled after a one-year waiting period.
Learn more: 1995 Staff Program Information Sheet I Recorded 1995 Staff Program Overview
Note: ATC members are covered by a separate retirement fund administered by their union. For more information, ATC members should contact the Central Pension Fund at 202-362-1000.
Current faculty and staff can find additional information on our employee website, HARVie's Retirement Programs page (HarvardKey required).
Employee-funded Retirement Programs
While University-funded plans provide a solid foundation, saving additional funds for retirement is crucial for long-term financial security. Harvard offers several options for personal retirement savings, including tax-deferred accounts and a 457(b) Deferred Compensation Plan.
Tax-Deferred Account (TDA)
The TDA allows you to save for retirement while reducing your taxable income, either now or in the future, depending on your contribution option. You may choose one or split contributions between both:
- Traditional Option: Contributions are made before taxes, reducing your taxable income today, and savings are taxed upon withdrawal.
- Roth Option: Contributions are made after taxes, with tax-free growth and tax-free withdrawals in retirement.
You can choose how much to contribute up to plan limits ($24,500 for 2026, with higher limits for those age 50 and older) and how to invest, selecting from Harvard's list of investment options. If no choice is made, your contributions will be directed to a Vanguard target date fund by default.
- Automatic Enrollment: New faculty, administrative/professional staff, support staff, and ATC members are automatically enrolled in the TDA Plan (traditional option) after 60 days of employment. Contributions begin at 3% of salary and increase annually by 1% until reaching 10% (subject to federal limits).
Learn more: Recorded TDA Overview | TDA Information Sheet | TDA Brochure I Roth Contribution Option TDA brochure
457(b) Deferred Compensation Plan
For employees whose base salary exceeds $240,000, the 457(b) Plan allows you to set aside a portion of your salary tax-deferred, in addition to TDA contributions. Enrollment materials will be provided if you are eligible.
Learn more: 457(b) Information Sheet | 457(b) Highlights and FAQs
Current faculty and staff can learn more about the TDA and 457(b) on our employee website, HARVie's Employee-Funded Programs page (HarvardKey required).
Investment Options and Retirement Planning
Harvard provides a range of resources to help you make informed decisions about your retirement investments and planning. Current faculty and staff may visit our employee website, HARVie's Retirement section (HarvardKey required) for details and to explore our full range retirement education resources, or click on the links below.
- Retirement Investment Options: Learn about the variety of investment options available through Harvard’s retirement plans.
- Retirement Education & Planning: Access resources to help you plan for a financially secure retirement.
- Preparing for Retirement: Information for those approaching retirement.
- Financial Education Calendar: Webinars, on-campus classes, and one-on-one sessions to help you understand your options and stay on track.