When Participation Ends
Your participation in the 457(b) Savings Plan ends when you retire or otherwise terminate your employment with the University. It will also end when you no longer meet the eligibility requirements of the Plan or when you stop contributing.
What if my salary decreases?
If you are enrolled in the 457(b) Savings Plan, and your salary decreases below the eligibility threshold during the year, you may remain enrolled in the Plan for the duration of that year if your total earnings from the prior calendar year were above the current eligibility threshold.
If your salary decreases during the year and your total earnings from the previous calendar year were also below the current eligibility threshold, you will no longer be eligible to participate in the plan. Your contributions will stop in the month that your salary falls below the eligibility threshold.
If your salary increases above the eligibility threshold in the future, you would regain eligibility to participate in the plan. For example, if you enroll for 2016, and your base salary then falls below $180,000 during that year and your total earnings in 2015 were below $180,000, you will no longer be eligible to participate in the plan as of the date your salary is reduced. If your salary later returns to an eligible level, you can once again elect to contribute to the 457(b) Savings Plan through Fidelity NetBenefits.