American University of Beirut

Source: https://www.aub.edu.lb/benefits/Pages/faculty_Retirement_Plans.aspx Parent: https://www.aub.edu.lb/benefits/Pages/Forms.aspx

Retirement Plans

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What are my retirement/indemnity options?

Plan A: Retirement Program for U.S. Citizens and Green Card Holders
Full-time academic personnel who are U.S. citizens or Green Card holders are eligible to enroll in this program. The employer's contribution makes up 10% of the basic salary, while the employee's contribution makes up 5% of the basic salary.
Contributions are invested in international funds through Vanguard.
Plan B: Retirement Program for Non-U.S. Citizens or Resident Alien Employees
Full-time academic personnel who are not U.S. citizens or Green Card holders can enroll in this program. The employer's contribution makes up 12.5% of the basic salary, while the employee's contribution makes up 5% of the basic salary.
Contributions are invested in international funds through UBP.
Enrollment is optional. It is your responsibility to contact the Office of Benefits to join the retirement plans.
Both plans allow academic personnel to withdraw funds under a "Hardship Distribution" option to meet specific financial obligations. For further details, check Plan A distribution and Plan B distribution documents.

What happens if I go on leave without pay?

All retirement contributions will cease during the period of your leave.

How do I get my retirement if I leave AUB?\

Plan A: You have to initiate your “termination" process online with Vanguard.
Plan B: You need to complete an administrative procedure to liquidate and cash out your retirement account. Please contact the Office of Benefits for additional details. \ \

Plan A: Retirement Program for U.S. Citizens and Green Card Holders****\ \

Plan B: Retirement Program for Non-U.S. Citizens or Resident Alien Employees****\