As Vanderbilt’s transition to our new streamlined retirement plan structure progresses, updates on “hot topics” and frequently asked questions are being shared in MyVU and MyVUMC.
Beginning in April, basic and supplemental retirement contributions will be combined and collectively called “voluntary” contributions in Vanderbilt and Fidelity’s systems. Currently, they are listed separately. This update does not affect the plan’s contribution levels, waiting period or the amount Vanderbilt will match. It also does not impact mandatory contributions, which will still be recorded and referred to separately.
During this transition year, you may still see “basic” and “supplemental” listed in your deductions sections, because contributions made before April 1 will be reflected in year-to-date totals. See examples above and below of how the listings will appear on paystubs beginning in April.
When you log into Fidelity NetBenefits to make contribution changes, you will see only “voluntary” listed as an option.
For more about Vanderbilt’s retirement plan transition, visit the Retirement Plan Transition website.