Deferred Compensation (Retirement)

The RF’s Deferred Compensation plan allows eligible employees to supplement their retirement savings with pretax biweekly contributions as defined under section 457(b) of the Internal Revenue Code (IRC). This plan allows those eligible employees who already contribute the maximum amount allowed by the Optional Retirement Plan to save even more on a pretax basis, up to an additional $23,500 in 2025 (subject to annual adjustment by the IRS). This plan also has a catch-up provision, allowing additional contributions based on underutilized amounts in prior eligible years. 

Unfunded plan

This is an "unfunded" plan, meaning that although plan participants reduce their salary and put that money aside in accounts with their names, these funds are part of the RF's general assets and, as such, are subject to the claims of RF's creditors. The RF has no obligation to set aside any funds for the purpose of making any benefit payments under this plan, and plan participants do not have any rights to any unpaid amounts that are greater than those of an unsecured creditor. 

Eligibility

Participation in the plan is limited to regular, active employees who:

• Are "highly compensated employees" as defined by the IRS (annual salary of at least $160,000 in 2025, adjusted annually by the IRS for changes in the cost of living) AND
• Perform services in one of the following job categories established by the RF:
  • Project Employees in one of the following titles: Clinical Investigator, Co-Principal Investigator, Principal Investigator, Principal Medical Practice Plan Administrator, Principal Nursing Administrator, Project Administrative Officer, Agency Administrative Officer, Senior Clinical Investigator; OR
  • Administrative Employees in titles assigned to one of the following grades: E.7, (e.g., Director, Assistant Vice President), E.8 (e.g., Vice President), E.9 (e.g., Senior Vice President) or E.0 (Officers of the Employer). 

Normal retirement age

Under this plan you must establish a normal retirement age the first time you enroll. This age cannot be changed. This age will determine the years you are eligible for catch up contributions (see Annual Limits).

Waiting period
Although there is no waiting period for this plan and all funds are immediately vested, in accordance with IRS regulations deferrals begin on the first payroll date of the month following receipt of the enrollment form.

See the links below for additional information: 

Access Your Funds

Annual Limits

Change Your Beneficiary or Investment Allocation

Determine Contribution Amount

Enroll

Name/Address Change