Retirement Plan

Eligible staff members are enrolled in the college's 403(b) defined contribution retirement plan. The retirement plan is designed to provide eligible staff members with a source of income in planning for their retirement needs. Once eligible, the college contributes an amount equal to either 5 percent or 10 percent of the annualized salary (based on classification and years of service) to the enrolled employee's contract at TIAA-CREF. This salary is reported on the staff member's salary information sheet, to each enrolled staff member's retirement plan. Details about the plan are made available at the time of employment and periodically thereafter. The employee has opportunities to divert additional funds into a variety of supplemental retirement annuities (403(b) plans).

Eligible staff members may also make tax-deferred contributions to a supplemental retirement plan (SRA) subject to IRS limitations.