Offices & Services

Human Resources

Retirement Programs

Eligibility for this benefit is determined by the Plan Document and applicable law. Questions regarding eligibility should be directed to Human Resources.

With respect to amounts earned on or after the date specified below, the employee’s regular base salary will be reduced by the amount(s) indicated. Certain types of earnings are exempt from this withholding arrangement as determined by Washington College policy. Deductions are tax-deferred only. If you are interested in making after-tax contributions to a retirement account, please see someone in Human Resources or call TIAA directly.

If you are changing your contribution to the retirement plan, and the College needs to make a corresponding change per the plan documents, that change will be effective at the same time as the changes in the employee contribution. Either the employee or Washington College may terminate this arrangement as of the end of any pay period, so that it will not apply to salary subsequently earned.

Retirement Elections and Enrollment

To elect or change your retirement contributions complete the Retirement Elections Form and return it to the Office of Human Resources.

To register with TIAA please visit: https://www.tiaa.org/public/tcm/washcoll.

You must update address and name changes, and beneficiary information, directly with TIAA, yourself.

RETIREMENT PLAN TYPE

ACCESS CODE

403(b) Defined Contribution Plan

40662

Total contributions to your regular retirement account and your supplemental retirement account during each calendar year cannot exceed statutory exclusion allowances under Section 403(b) or Section 415 of the Internal Revenue Code, whichever is less.

Maximum Contribution Limits for 2018

Under Age 50

$       18,500

Under Age 50 with 15 Years Service at WC*

$       21,500

Over Age 50

$       24,500

Over Age 50 with 15 Years Service at WC*

$       27,500

 *Lifetime limits may reduce the total allowed years of service contribution.