Page 3 - Columbia University Retirement Brochure - Officers

The Voluntary

Retirement Savings

Plan (VRSP)

The VRSP is a defined contribution 403(b) retirement plan. You can make pre-tax
and/or Roth after-tax contributions. To participate in the VRSP, you must be employed
by and receive a paycheck from Columbia University.

New Hire Enrollment To change the pre-tax default contribution
Within 31 days of your date of hire you will receive percentage and/or carrier election, log in to CUBES.
an email inviting you to register for benefits via To change the default investment fund election, log
CUBES—the Columbia University Benefits Enrollment in to your account at vanguard.com (and, if you want
System. Log in to CUBES, and enroll in the VRSP to elect TIAA investment funds, at tiaa.org).
along with your other benefits. You can elect to
make contributions on a pre-tax and/or Roth If you are automatically enrolled in the VRSP,
after-tax basis from 1% - 80% of your eligible but do not wish to be, you can request a refund
earnings, up to the IRS annual limit. of contributions that were deducted from your
pay within the first 90 days after your automatic
Automatic Enrollment enrollment takes effect (this happens 60 days after
If you do not make an active election to contribute your hire date).
to the VRSP, you will be automatically enrolled to
contribute 3% of your eligible pay on a pre-tax basis. What Is Eligible Pay under the VRSP?
This will be reflected in the first pay period after you In general, eligible pay for the VRSP is gross
have worked for 60 days. If you do not make a carrier compensation reported as W-2 pay, excluding
election you will be defaulted to Vanguard. If you imputed income (the value of non-monetary
do not select an investment fund your retirement compensation and benefits, such as
contributions will be invested in the Qualified employer-provided life insurance above $50,000,
Default Investment Fund closest to when you reach and certain gifts and rewards) and certain additional
age 65. compensation payments.

If you elect to make Roth contributions within 60
days after your hire date, you will not automatically
be enrolled to make pre-tax contributions. You must
actively make an election to contribute pre-tax.

For more information, go to humanresources.columbia.edu/retirement