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.
Northwestern University Retirement Plan
The Northwestern University Retirement Plan provides 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 Plan belongs to you and is immediately vested; however, there may be some limitations on withdrawal of the funds. (See the Retirement Plan Summary Plan Description (PDF) for details.)
Eligibility in the plan requires one year of eligible employment and attainment of age 24. If you are a Northwestern employees who is not eligible to participate in the Northwestern University Retirement Plan, you may contribute pre-tax dollars to the Voluntary Savings Plan.
Information for potential retirees
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.