How does the Defined Contribution Retirement Plan work?
Georgetown University will automatically contribute 5% of each paycheck into a retirement savings account for eligible faculty, staff and AAPs. In addition to Georgetown University’s automatic contribution, participants who contribute 3% of their pre-tax pay will receive an additional 5% contribution from Georgetown University, for a total contribution of 13% of pay. Participants who contribute less than 3% will receive a proportionate share of the additional 5% contribution by Georgetown University. As well, participants are immediately vested in the contributions toward their retirement.
