Pension Plan
Under the MIT Pension Plan, also known as a Basic Retirement Plan, MIT provides a basic retirement benefit that will be paid to you upon your retirement as a monthly income for the rest of your life.
Supplemental 401(k) Plan
The MIT Supplemental 401(k) Plan helps eligible employees save and invest for retirement while receiving certain tax advantages.
457(b) Plan
This deferred compensation plan allows certain highly paid eligible employees to voluntarily set aside a portion of their MIT pay to enhance their retirement savings or reach other long-term financial goals.
Thinking About Retiring?
We've prepared a checklist especially for you, and organized essential information on health care benefits, retirement plan income, and other resources that support MIT retirees.
What Else You Should Know
Deemed Retirement for Required Minimum Distribution (RMD)
If you have reached RMD age* and worked part-time earning less than $10,000 in a calendar year, you will be deemed retired as of January 1 of the following calendar year for plan distribution purpose. As a result, you will be required to begin the RMD process under the applicable retirement plans (e.g., the 401(k), 457(b), and Pension Plans).
* RMD age is age 73 if you were born on or after January 1, 1951, age 72 if you were born after June 30, 1949 and before January 1, 1951, or age 70 ½ if you were born before July 1, 1949 for retirement plans. Note: if you were born after December 31, 1959, your RMD age is age 75 for the 457(b) plan only; it remains age 73 for the 401(k) and Pension Plans.
Post-tenure faculty
Learn more on the Faculty Concierge website (Touchstone required; access available to MIT faculty and certain administrators).
Check Your Beneficiaries
MIT Pension Plan
Not sure who you designated as your beneficiary for the MIT Pension Plan? Visit PensionConnect and click the link under "Did You Know?" Current employees may access PensionConnect using Touchstone. Former employees and retirees may access an existing PensionConnect account. If you are a new user or you need assistance accessing your pension account, please contact the MIT Pension Service Center at 855-464-8736.
MIT Supplemental 401(k) Plan
Not sure who you designated as your beneficiary for the 401(k) Plan? Contact Fidelity Investments at 877-MIT-SAVE (877-648-7283).
Designate your beneficiary online through Fidelity NetBenefits.
Need Help or Have Questions?
Contact MIT Benefits or see our additional contact options below.
| Vendor | Phone | Website |
|---|---|---|
| Fidelity – 401(k) Plan | 1-877-MIT-SAVE or 1-877-648-7283 |
NetBenefits |
| MIT Pension Service Center | 1-855-4MITPEN or 1-855-464-8736 |
Disclaimer
If there is a discrepancy between this website and the official Plan Document(s), the official Plan Document(s) will govern.
