Plans are available to employees, and in some cases, to eligible dependents. Aerobic fitness classes round out the offerings in a friendly setting with professional staff. Participation in a variety of Laboratory athletic teams is also available. The Basic Plan is a traditional pension plan to provide income in retirement. MIT contributes the full cost of providing the basic plan benefit.
Membership is effective as of the first day of employment.
Employees are vested after five years of plan membership. Contributions are made before federal and state income taxes. Employees are vested immediately. Employee contributions are made before federal and state income taxes. Contributions receive no Institute match and are subject to IRS maximum limitations.