Retirement and Savings
Retirement Plans 403(b) AND 401(a)
Argonne offers a retirement program for eligible employees through our record-keeper, Fidelity Investments. If you are an eligible employee, you must participate in the plan after six months of service, as a condition of employment.
Eligible Argonne employees participate in a defined contribution retirement plan funded by both employee (403(b) plan) and Laboratory contributions (401(a) plan). You can choose from a wide variety of investment options, and you have full control over how contributions are allocated among your investments. Upon retirement, you are given a choice of distribution options including, but not limited to, annuities and installment payments over a specified period.
Eligible participants will begin participation in the mandatory 401(a) and 403(b) plans on the 7th month of employment automatically and according to the “Mandatory Plans” table below. All employees are eligible to begin participation in the supplemental 403(b) plan at any time after their date of hire and according to the “Supplemental Plan” table below.
Mandatory Plans
- Eligibility: Full-time and long-term regular
- Participation: Mandatory after 6 months
- Employee Contribution: 403(b) 2.5% of base pay
- Laboratory Contribution: 401(a) 9% of base pay
- Method of Contribution: Pre-tax, payroll deduction
- Vested: Immediately
- Mandatory workshop
Supplemental Plan
- Eligibility: All employees in pay status
- Participation: Voluntary, at any time
- Contribution Limit: Up to IRS limits $23,000 per year + $7,500 catch-up if age 50+
- Method of Contribution: Pre-tax or Roth 403b (after tax, not IRA) payroll deduction
- Vested: Immediately
- Rollovers accepted