There is no waiting period. You can enroll in the Old Dominion University 403(b) Plan at any time. You must be enrolled in the Old Dominion University 403(b) Plan in order to enroll in the Old Dominion Cash Match 401(a) Plan.

Enroll online at any time, or by calling the Fidelity Retirement Benefits Line at 800-343-0860.

Your enrollment becomes effective once you elect a deferral percentage, which initiates deduction of your contributions from your pay. These salary deductions will generally begin with your next pay period after we receive your enrollment information, or as soon as administratively possible.

Through automatic payroll deductions, you may contribute between 0% and 85% of your eligible compensation as pretax contributions. Sign up online by accessing the “Contribution Amount” section under “Quick Links” on NetBenefits^®, or by calling the Fidelity Retirement Benefits Line at 800-343-0860.

Decide how much of your salary you'd like to save in your workplace retirement savings plan. You can choose to direct 100% of your salary deferral election to one provider or split your salary deferral election to contribute a portion to each retirement provider (Fidelity or TIAA). For example, you can elect to direct 50% to Fidelity and the other 50% to TIAA. Or you can elect any other split you prefer if the total equals 100%.

If you are age 50 or older, you have the ability to make catch-up contributions to your plan, up to the current IRS dollar limits.

A Roth contribution to your retirement savings plan allows you to make after-tax contributions and take any associated earnings completely tax free at retirement - as long as the distribution is a qualified one. A qualified distribution, in this case, is one that is taken at least five tax years after your first Roth 401(k) contribution and after you have attained age 59½, or become disabled or die. Through automatic payroll deduction, you can contribute between 0% and 85% of your eligible pay as designated Roth contributions, up to the annual IRS dollar limits. Please reach out to Fidelity with any questions about Roth contributions or reach out to your Tax Advisor with tax-related questions.

Unlike a Roth IRA, there are no income limits to be eligible for a Roth 403(b) option within an employer-sponsored retirement plan. Generally, a Roth contribution may be beneficial if you expect your tax rate in retirement will be higher than it had been during the years you contributed.

Find more information online within the "Learn" section of NetBenefits^®.

As long as you have reached or will reach age 50 by year end and are making the maximum plan or IRS contribution, you may make an additional catch-up contribution each pay period. Going forward, catch-up contribution limits will be subject to cost-of-living adjustments (COLAs) in $500 increments.

If you have 15 years or more of work experience and have contributed less than $5,000 a year, on average, to your retirement savings plan, you may be able to make additional lifetime catch-up contributions to your plan, allowing you to contribute up to a maximum of $3,000 per year, up to a maximum lifetime benefit of $15,000. Please note, in order to receive the maximum benefit from the age 50 and lifetime catch-up contributions, the lifetime catch-up limit for a calendar year ($3,000) must be used before the Age 50+ Catch-up is applied. Please consult your tax advisor for additional information.

Starting in 2025, the SECURE 2.0 Act increases the limit for you if you have attained age 60, 61, 62, or 63 in a given calendar year. The limit for 2025 is $11,250.

The IRS contribution limit for 2025 is $23,500.

You are always 100% vested in your own contributions to the Old Dominion University 403(b) Plan, as well as any earnings on them.

To help you meet your investment goals, the Plan offers you a range of options. You can select a mix of investment options that best suits your goals, time horizon, and risk tolerance. The many investment options available through the Plan include conservative, moderately conservative, and aggressive funds. A complete description of the Plan’s investment options and their performance, as well as planning tools to help you choose an appropriate mix, are available online.

We encourage you to take an active role in the Old Dominion University 403(b) Plan and choose investment options that best suit your goals, time horizon, and risk tolerance. If you do not select specific investment options in the Plan, your contributions will be invested in the Fidelity Freedom^® Fund Class K with the target retirement date closest to the year you might retire, based on your current age and assuming a retirement age of 65, at the direction of Old Dominion University.

If no date of birth or an invalid date of birth is on file at Fidelity, your contributions may be invested in the Fidelity Freedom^® Income Fund Class K. More information about the Fidelity Freedom^® Fund Class K options can be found online.

Target Date Funds are an asset mix of stocks, bonds and other investments that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed.

Although your plan account is intended for the future, you may borrow from your account for any reason.

Learn more about and/or request a loan online, or by calling the Fidelity Retirement Benefits Line at 800-343-0860.

If you have an account with TIAA, call 800-842-2252.
Or you can also call CAPTRUST at 800-967-9948.

You are generally allowed to withdraw money from your plan when you leave your employer, retire or become permanently disabled. Also you may be eligible for a distribution if you have a financial hardship as defined by your plan. Withdrawals may be subject to income taxes and, if they occur prior to you becoming age 59½, a 10% early withdrawal tax penalty. For more information:

If you have an account with Fidelity, call 800-343-0860.
If you have an account with TIAA, call 800-842-2252.
Or you can also call CAPTRUST at 800-967-9948.

You are permitted to roll over eligible pretax, after-tax and Roth contributions from another 401(k) plan, Roth 401(k) plan, 401(a) plan, 403(b) plan, Roth 403(b) plan, a governmental 457(b) retirement plan, or a Roth 457(b) retirement plan account or eligible pretax contributions from another conduit Individual Retirement Accounts (rollover IRAs) and certain non-conduit individual retirement accounts (traditional IRAs, Simplified Employee Pension plans, and "SIMPLE" IRA distributions made more than two years from the date you first participated in the SIMPLE IRA). A conduit IRA is one that contains only money rolled over from an employer sponsored retirement plan that has not been mixed with regular IRA contributions.

Contact your Fidelity Investments Representative for details.

If you have retirement savings in another employer's plan or in an IRA, consolidating accounts may help make it easier to manage your savings but there are several options. Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

If you're not sure about the best option for you, talk to a representative today. They can explain each option in greater detail so you can make the best choice for your specific needs.

If you have an account with Fidelity, call 800-343-0860.
If you have an account with TIAA, call 800-842-2252.
Or you can also call CAPTRUST at 800-967-9948.

Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

If you have not already selected your beneficiaries, or if you have experienced a life-changing event such as a marriage, divorce, birth of a child, or a death in the family, it’s time to consider your beneficiary designations. Fidelity’s Online Beneficiaries Service, offers a straightforward, convenient process that takes just minutes. To make your elections, click on the “Profile & Settings” icon in the upper right-hand corner, then select “Beneficiaries” and follow the online instructions.

TIAA: Call 800-842-2252 or log in to your account by selecting "TIAA" in the drop down box at the top of the page under "Your Account" and follow the prompts to the TIAA website.

Learn about loans, exchanges, and more online. In particular, you can access loan modeling tools that illustrate the potential impact of a loan on the long-term growth of your account. You will also find a withdrawal modeling tool, which shows the amount of federal income taxes and early withdrawal penalties you might pay, along with the amount of earnings you could potentially lose by taking a withdrawal.

If you have an account with Fidelity, call 800-343-0860.
If you have an account with TIAA, call 800-842-2252.
Or you can also call CAPTRUST at 800-967-9948.