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What are the differences between the Matched and Voluntary Plans?

April 26, 2017differences matched plans Voluntary

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What are the differences between the Matched and Voluntary Plans?

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The Matched Plan provides for an individual to make contributions which are matched by the University. dollar for dollar up to 5% of the employee’s salary. The Voluntary Plan provides for an individual to make contributions over and above those contributions which are matched by the University. An individual may make voluntary contributions up to IRS limits.