Coverage begins on the first day of work for employees who have completed and filed an Enrollment Card. The cost of health plan coverage is shared by the employer and employee. Both individual and family coverage are available, and coverage begins on the first day of work for employees who have completed and filed an Enrollment Card. The cost of dental plan coverage is shared by the employer and employee, and coverage begins on the first day of work for employees who have completed and filed and Enrollment Card. The entire cost of this plan is paid by the employer.
Participants receive an annual account credit based on age, years of service and annual pay.
Vesting occurs after five years of continuous full-time employment, and early retirement is possible after age 55, provided 10 years of credited service have been completed. Normal retirement is at age 65. In this salary reduction plan, employees may make voluntary pre-tax retirement contributions to be invested in a variety of funds. Series EE U.S. Savings Bonds may also be purchased via payroll reductions. Employees can use tuition benefits for undergraduate, graduate and career-related classes at Georgetown University, Georgetown University Hospital or other institutions in the Washington metropolitan area.