Eligible faculty and staff may enroll in the Virginia Tech Cash Match Plan at any time. To make your enrollment effective, it is important you also complete a Salary Reduction and Cash Match Agreement Form with your benefits office.

Follow the detailed instructions on the "Enroll today" page after this FAQ section to enroll in the Virginia Tech Cash Match Plan.

Your enrollment becomes effective once you complete a Salary Reduction and Cash Match Agreement Form with your benefits office.

You do not contribute to the Cash Match Plan; your enrollment responsibility is to choose your investment options.

As long as you contribute at least $10 each pay period to the Virginia Tech 403(b) Plan, Virginia Tech will match this contribution at 50% (up to a maximum of $20) in your Cash Match Account.

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 47 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 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 Virginia Tech. 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. Please refer to the chart in the Investment Options section for more detail.

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.

Loans are not available under the Cash Match Plan.

Withdrawals from the Plan are generally permitted when you terminate your employment, retire or become permanently disabled.

You are permitted to rollover eligible contributions from another 401(k) or 401(a) plan.

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.

You can learn about loans, exchanges, and more, online or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860 to speak with a representative or use the automated voice response system, virtually 24 hours, 7 days a week.