403(b) Savings Plan

Emory Clinic's 403(b) Savings Plan is a tax-deferred retirement plan which allows you to contribute a percentage of your pay before taxes and receive a basic contribution and matching contribution from Emory.

Contributions and investment earnings in a 403(b) grow tax-deferred until withdrawal (assumed to be retirement), at which time they are taxed as ordinary income.


For Employees to Contribute

All EC members can immediately begin to contribute pre-tax dollars to the 403(b) Savings Plan.

For Employer Contributions

All EC members who are at least 21 years of age, and have completed one year of service are eligible for Emory Clinic's Basic Contribution.


You can make contributions to the following retirement vendor:

Employee Contributions

You can contribute from 1% to 65% of compensation, subject to IRS maximum deferral limits. The IRS sets limits annually. The maximum deferral limit for 2019 is $19,000 per calendar year. If you are age 50 or over, you can make additional catch-up contributions (for 2019, the IRS limit is $6,000).

Employer Contributions

Emory Clinic’s Basic Contribution (8%):

Upon completion of one year of service, Emory Clinic provides a basic contribution of 8% of compensation. Once you are eligible, Emory Clinic’s 8% contribution to your retirement will begin the first of the following month.

If you are employed by Emory Clinic and Emory University, the basic contribution from the employers (8% from the Clinic and 6% from the University) is capped at $22,000.

How to Enroll

You can enroll in the 403(b) Savings Plan at any time throughout the year on Fidelity Investment's website:

Fidelity Investments
Website Instructions:
Select Register and enter the last 4 digits of your Social Security Number. From there, you are presented with a series of questions to set up the account. You then select your funds.

If you do not select investments, you will be placed in the default Lifecycle Fund until you make your selections.

Ways to Invest

The Plan offers you four ways to invest. All investments involve a level of risk, therefore, before making any investment decisions, it is recommended that you speak with your selected investment vendor(s) or your personal financial advisor.

Lifecycle Investments offer you the convenience of investing your contributions into a fund that is managed for you by providing “ready-mixed” investments.

Lifecycle Investments are allocated and invested based on your projected retirement timeline, starting out with a higher allocation to stocks when you are younger, and then reallocating gradually toward more conservative assets as you get closer to retirement.

Each of the funds assumes a retirement age of 65, so try to select the appropriate fund based on when you plan to retire. These funds are monitored by Emory. Contact Fidelity for more information.

Core Investments streamline your fund choices across major asset classes, enabling you to make easier investment decisions. Selecting funds in the Core investment category enables you to select and combine investments to create a diversified retirement portfolio. These funds are monitored by Emory. Contact Fidelity for more information.

Expanded Investments provide a greater choice and options across all major asset classes. Selecting funds in the Expanded Investment category enables you to create a portfolio that is tailored to your individual retirement goals. These funds are monitored by Emory. Contact Fidelity for more information.

The Mutual Fund Brokerage Window gives you access to the world of mutual fund investments. The window provides the flexibility of a brokerage account, with the advantage of investing your retirement savings plan money through the Emory 403(b) Retirement Plan. This option provides more opportunity to create a retirement portfolio that matches your goals, time frame and risk tolerance. You also can monitor your portfolio and adjust it as your needs change.

Funds available through the Mutual Fund Brokerage Window are not selected or monitored by Emory in any way, and investments are made at your own risk. Contact Fidelity to discuss which funds are available to you.


If you need help in selecting funds, refer to the Investment Performance Chart or visit your selected vendor(s) website for information on fund performance. The Investment Performance Chart is updated quarterly.

You can also schedule a Retirement Counseling Session with Fidelity Investments.


For new hires or contributions after January 1, 2007, vesting is as follows:

  • Employee’s Contributions: Your contributions are always 100% vested.
  • Emory Clinic’s Basic Contribution: Vest after completion of 3 years of service.

Prior to January 2007, employer contributions were on a 5-year vesting schedule.

Accessing Funds

If you need to take a distribution from your Plan while you are an Emory Clinic employee, there are several options available. An overview of these options is provided below. Refer to the Summary Plan Description for more complete details.

Enables you to withdraw your own contributions and any Emory Clinic funds which are vested to cover certain medical, educational, real estate or personal purchase items. Plan Loans are repayable through direct debit of your checking or savings account over the timeframe of the loan and do not require you to cease participating in the plan during the term of the loan. No penalties are incurred by participants accessing their money, unless, they default on the repayment of the loan in which case the remaining balance will be treated as a distribution subject to all IRS penalties and taxes. Once all forms are completed/submitted to the plan vendor, this process typically takes ten (10) business days.

Enables you to withdraw your own contributions which are vested to cover certain medical, educational, home purchase or repair items. Hardship withdrawals cannot be repaid; are subject to IRS penalties for early withdrawal; and are taxable to the participant. Hardships require proof and documentation. Once all forms are completed/submitted to the appropriate retirement plan vendor, this process typically takes seven (7) business days.

Available to employees who have reached 59 ½ years of age. Withdrawal requests do not have to meet certain reason requirements; and, are not subject to IRS penalties for early withdrawal; and, do not require you to cease participation in the plan. You are able to withdraw ONLY your own contributions to the plan. Withdrawals are taxable to the participant at the time they are received. Once all forms are completed/submitted to the plan vendor, this process typically takes seven (7) business days.