Saving For Retirement

College-Paid Retirement Account

(Defined Contribution Plan)

The 蜜桃社区 College Retirement Plan is a defined contribution plan that operates under Section 403(b) of the Internal Revenue Code. 蜜桃社区 College has two retirement vendors, The Teachers Insurance and Annuities Association (TIAA) and Fidelity Investments.

蜜桃社区 College contributes 9.5 percent of the salary up to the Social Security wage base ($160,200 in 2023) and 12.5 percent over the Social Security wage base up to the Internal Revenue Code limit. The employee is 100 percent vested in this plan after three years of employment.

Employee Contribution Retirement Account

(Tax-Deferred Annuity Plan)

The Employee Contribution Account is an account into which an employee may make voluntary pre-tax contributions to save for retirement. As such, the total amount of contributions made for any year cannot exceed the limits imposed by section 415 and section 403(b) of the Internal Revenue Code.

You have the choice of opening an account with TIAA or Fidelity.

Eligibility

  • College-Paid Defined Contribution Plan: Once an employee works in a regular position for 蜜桃社区 College for one year (worked听at least 1,000 hours/year), the college opens a college-paid plan for the employee. The employee is 100 percent vested in the college-paid annuity after three years of employment.
  • If you were eligible to receive employer contributions under a 403(b) retirement plan maintained by a prior employer within the one-year period immediately preceding employment at 蜜桃社区 College, the one year waiting period may be waived. To secure such a waiver you must complete the 鈥淰erification of 403(b) Retirement Plan Eligibility Form鈥 and submit a pay stub or attestation from former employer. 听
  • 蜜桃社区 College Tax Deferred Annuity Plan:听This plan allows employees to defer pretax money from their paychecks into a retirement account, and it is open to all employees. Participation may begin shortly after employment begins at Contact Human Resources for more information about beginning or changing a deferral into the TDA plan.

蜜桃社区 Contributions and Maximums

To calculate the amount that qualifies for the additional 1 percent per pay period, see the following examples:

Annual Salary Examples Calculation of 1 percent Amount Per Pay Period
$20,000 $20,000 X .01=$200 Biweekly: $200/26=$7.69/period
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$30,000 $30,000 x .01=$300 Biweekly: $300/26=$11.54/period
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Retirement Planning Resources

the 蜜桃社区 College Retirement Planning website (both Fidelity and TIAA).

Vendor Information

Appointments

Representatives from our retirement vendors are on campus once a month to provide one on one appointments with employees.

  • Fidelity: To schedule an appointment with our representative, visit the or call 800-642-7131.
  • TIAA: To schedule an appointment with our representative, visit the or call 877-267-4505, ext. 0.

Contact Information

Fidelity
800-343-0860

TIAA
800-842-2776

Plan Administrator

蜜桃社区 College

Documents and Forms

General Documents

  • (PDF)

College-Paid Retirement

Employee Contribution Retirement