Company Matching Contributions

AUHS contributes to the 401k at the rate of .50 cents on the dollar matched up to the first 3% of the faculty members own contributions. For example, if a faculty member decides to contribute 4% of his bi-monthly paycheck of $1500 gross, the faculty member is contributing $60.00 to the retirement plan each paycheck. AUHS will add another $22.50 to that contribution for a total of $82.50 to the 401k Program. Per taxable year, a faculty member can contribute up to a maximum amount established by the IRS ($19,000 in 2019). If the faculty member is aged 50 or older, he can contribute up to an additional $6,000* in a taxable year. Faculty members are eligible for the company match after one year of continuous service with AUHS.* (*Subject to change depending on current state and federal laws.)

• Discretionary Contributions
  AUHS reserves the right to add additional contributions to the faculty member’s 401K account beyond the .50 cents match.
• Vesting
  AUHS faculty members are fully vested 100% in contributions they make to the company 401k Plan. Company Matching Contributions are vested at the rate of 20% per year of continuous service with AUHS. The vesting occurs once a year at the end of each year and is not prorated. Should a faculty member resign his/her position with AUHS, they will be entitled to rollover their contributions into the retirement plan as well as the vested total of the Company Matching Contributions earned as of the last vesting date. The faculty member can also request direct distribution of the total vested balance however the faculty member is warned that there are SEVERE tax consequences to taking a direct distribution that is not rolled into another qualified retirement plan. The faculty
  member is advised to seek Tax counsel related to such matters.

Questions
Please forward any questions you may have regarding AUHS retirement plans to:(hr.info@auhs.edu)