AIARC administers separate retirement plans for U.S. and non-U.S. taxpayers. You generally become eligible to participate in the retirement plan on the first day of your employment. However, you will not be allowed to enroll in the retirement plan until you have completed the Tax Residency Declaration Form. Your declaration on this form will determine in which retirement plan (international plan or U.S. plan) you will be enrolled, and your declaration is considered a legal statement that may be shared with governmental jurisdictions and tax authorities.
If your residency form indicates that you are a U.S. taxpayer, you will be enrolled in the U.S. Retirement Plan.
Vanguard, based in Valley Forge, Pennsylvania, USA, provides the IARC U.S. 403(b) Retirement Plan platform for U.S. taxpayers.
The IARC U.S. Retirement Plan (the Plan) was established in 1996 to help Center employees save for retirement. The Plan is a defined-contribution retirement plan. The U.S. Plan is set up in accordance with Section 403(b)(7) of the Internal Revenue Service Code.
To be eligible to participate in the U.S. retirement plan, you must be:
1) Employed by a member Center that sponsors the Plan.
2) A U.S. taxpayer.
3) Enrolled in one of the following Employment Classifications as designated by your Center:
You will be advised by your Center if your Employment Classification is eligible to participate in the retirement plan. Before you are allowed to enroll in the U.S. Retirement Plan, you must have completed the Tax Residency Declaration Form. Your declaration on this form will determine in which retirement plan you will be enrolled, and your declaration is considered a legal statement that may be shared with governmental jurisdictions and tax authorities. If the Tax Residency Declaration Form indicates that you are a U.S. taxpayer, you will be enrolled in the IARC U.S. Retirement Plan administrated by Vanguard.
Please note that Vanguard requires a “wet” (hand-written) signature on the U.S. Retirement Plan Enrollment Form to enroll you in the retirement plan. After your enrollment in the Plan, your Center will contribute its employer amount on a monthly basis in accordance with the retirement sponsorship agreement with the Plan Administrator.
To make voluntarily contributions to your retirement account, complete the 403(b) Salary Reduction Agreement (SRA) Form. The SRA Form authorizes voluntary contributions to be deducted from your monthly salary. Please note that as a U.S. taxpayer there are limits to the amount of voluntary and total contributions that can be made from both the employee and the employer in a calendar year. Please refer to the 403(b) Contribution Limits for deferrals and maximum annual contributions as published by the Internal Revenue Service. If you are interested in making voluntary contributions, please contact your Center’s AIARC Coordinator to assist you in calculating your maximum allowable amount by visiting www.AIARC.org.
This section provides you with answers to the most frequently asked questions about retirement benefits under the IARC U.S. 403(b) Retirement Plan. Please refer to the Vanguard website for more information about the Plan.
The IARC Retirement Plan (the Plan) was established in 1996 to help Center employees save for retirement. The Plan provides for the creation and administration of custodial accounts to receive contributions from the Center on behalf of the Plan participants in accordance with Section 403(b)(7) of the Internal Revenue Service Code. The Plan is a defined-contribution retirement plan.
You are eligible if you are:
1) Employed by a qualifying Center,
2) Enrolled in an eligible Employment Classification as designated by your Center, and
3) A U.S. taxpayer.
You will be advised by your Center if your Employment Classification is eligible to participate in the retirement plan. If you are eligible, you will receive the U.S. Retirement Enrollment Plan Form enabling you to select your investment choices, authorize voluntary contributions to be deducted from your salary, and designate beneficiaries in the event of your death.
Generally, eligible employees begin participation in this retirement plan on the first day of their employment, as advised to AIARC by the Center.
Center Contributions: Your Center will contribute a monthly amount based on the Center’s retirement formula in the sponsorship agreement with the Plan Administrator. The contribution amount will be payable from the date you join the Plan until you leave employment. Please contact the Human Resources department at your Center for the formula (e.g., 15% times gross monthly salary) used for determining the employer contribution amount.
Voluntary Contributions: If your Center is making monthly employer contributions on your behalf, you can make voluntary contributions as well. Your monthly contribution cannot exceed your monthly net salary, but the Internal Revenue Service also imposes annual limits on both voluntary and total contributions. You may only make these contributions through monthly payroll deduction from your monthly salary. To begin, change, or stop voluntary contributions, please complete and return the 403(b) Salary Reduction Agreement Form for U.S. Taxpayers to your designated AIARC Coordinator.
Please note that both your employer and voluntary contributions are 100% vested.
Yes, there are limits to both voluntary contributions and total contributions (employer plus voluntary). Please refer to the current year limits for deferrals and maximum annual contributions as published by the Internal Revenue Service.
If you are interested in making voluntary contributions via salary reduction, please contact your designated AIARC Coordinator so that your coordinator can calculate the maximum allowable amount that you can contribute for the calendar year to ensure that you do not go over the maximum limit.
Your contributions will begin after you complete and return both the Tax Residency Declaration Form and the U.S. Retirement Enrollment Plan Form from Vanguard. Please note that no contributions will be deposited to your retirement account until your forms are received by AIARC. After the forms are received by AIARC, contributions will begin to your account (and will include contributions for prior periods, if applicable).
The retirement plan offers funds from Vanguard and other fund managers representing a diversified range of asset classes. You will make all your initial investment choices on the enrollment form.
After you are enrolled in the Plan, you can change your personal details, investment choices, and beneficiaries at any time by creating a personal account on the Vanguard website.
Except as otherwise provided in the Plan document, the assets of a participant’s account shall not be distributed before the participant:
In the event that you die prior to commencement of retirement benefit payments, the current value of your account, including the portion attributable to employer contributions, will be payable to the beneficiary or beneficiaries recorded in your Vanguard account in a single sum or under any one of the options offered by Vanguard.
For married participants, the surviving spouse will receive death benefits, unless a written waiver of the benefit by the employee and written consent to the waiver by the spouse are filed with Vanguard.
It is recommended that you designate beneficiaries to ensure that the intended individuals will receive any money in your account should you die, and that you keep your personal details up to date.
To review quarterly statements, change investment allocations, and change beneficiary information, you will need to create a personal account at the Vanguard website.
The Plan offers a diversified lineup of Vanguard funds. For more information about a particular fund, review the fund factsheet or visit Vanguard to obtain a prospectus.
Vanguard Investment Questionnaire will assist you in determining the optimal long-term investment mix of stocks and bonds for your investment portfolio.
Vanguard – U.S.
Vanguard – Overseas
Hours
Mon-Fri: 8:30 a.m. to 9 p.m.
(U.S. Eastern time)
AIARC reserves the right to modify or terminate any of the benefits described at any time for any reason. Please note that AIARC is not your employer and nothing contained in this website should be construed to create an employer-employee relationship. Your Center is your employer.
AIARC
901 N. Washington St., Suite 706
Alexandria, VA 22314-1535
United States
Phone +1-703-548-4540
Fax +1-703-548-5960
Office hours are from 8:30 a.m. to 5:30 p.m. (0830 to 1730 U.S. Eastern Time), Monday through Friday
If you have questions about your benefits, please contact the AIARC Coordinator for your Center by visiting www.AIARC.org.
