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Retirement Plans

Must be at least 21 years of age and have worked a minimum of 1,000 hours for two consecutive years. CSHL contributes the equivalent of 9.3% of your annual salary up to the social security taxable wage base and a 15% contribution on any compensation earned after compensation equal to the social security taxable wage base has been earned up to the limitation on annual additions.

For Postdoctoral Fellows, the Laboratory contributes the equivalent of 1% of your annual salary.

You may contribute to the 403(b) Plan with pre-tax contributions, Roth Contributions or a combination of both. Pre-tax contributions are not taxed when you contribute to the Plan but those contributions, and any related earnings, are taxable upon withdrawal.

Roth Contributions, on the other hand, are made with after-tax dollars so they are not taxed when you withdraw them from the Plan. Earnings on Roth contributions are also not taxed when they are withdrawn from the plan provided your withdrawal is a qualified distribution (as long as it has been five tax years since your first Roth 403(b) contribution and after you are age 59½ or on account of you being disabled, or to your beneficiary after your death).

The 2024 IRS limit for the 403(b) Plan is $23,000, and the additional catch-up contribution for employees aged 50 and over is $7,500, which is a cumulative maximum that applies to all employer-sponsored plans (e.g., 401(k), 403(b), 457(b), etc.) to which you contributed in 2024. It should also be noted that the limit applies to both pre-tax and Roth contributions.

Must have a valid social security number in order to participate in the CSHL 403(b) Plan.