Work hard, play hard, and plan for the future. Northwestern recognizes that while employees may be fully committed to their careers today, at some point, they may want to retire. Northwestern provides retirement plan benefits to help those wishing to reach a retirement goal.
Retirement Savings Plans
The University's Retirement Savings Plans provide faculty and staff with the opportunity to accumulate a source of retirement income in addition to income from Social Security and personal savings.
The money you contribute to the Retirement Savings Plans belongs to you and is immediately vested; however, there may be some limitations on withdrawal of the funds. (See the Retirement Savings Plans Summary Plan Description and Enhancements to Your Plans notice for details.)
As you prepare for retirement, consider evaluating your retirement income, as well as confirming your eligibility for Northwestern retiree benefits. To qualify for retiree benefits, an individual must meet the age and service requirements as well as be benefits eligible at the time of retirement from Northwestern.
Employees with the required number of years of service and age can be a Northwestern retiree and pay the full premium to continue to have access to the retiree medical, dental and vision plans. In addition, there are other benefits like portability of the life insurance plans, retaining the Wildcard, and other retiree benefits.