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Human Resources

Benefits

Retirement Plan


Effective January 1, 2009 the Hamilton College Tax-Deferred Annuity Plan was merged into the Hamilton College Basic Retirement Plan and renamed the Hamilton College 403(b) Retirement Plan.  This plan provides for contributions by the College (Employer Contributions) and employees (Elective Deferrals).  Employees direct the investment of their accounts. Retirement plan accounts are 100% vested at all times.  Benefits are not taxed until funds are distributed.

Effective March 15, 2013 TIAA-CREF will be the Plan's sole retirement plan provider. Contributions made prior to March 15, 2013 to Fidelity Investments may remain with Fidelity.


Contributions by the College

After one year of employment at the College, the College will contribute the equivalent of 10 percent of an eligible employee's earnings to a 403(b) account with TIAA-CREF.


Contributions by Employees

All employees may make contributions on a tax-deferred basis to a 403(b) account with TIAA-CREF. This benefit is available immediately upon employment. Federal law dictates the maximum amount you are eligible to contribute under these plans (see below), and penalties imposed for withdrawals prior to age 59 1/2.

Please complete a Salary Reduction Agreement and return the completed form to Human Resources.

 
 Annual Contribution Limit
Calendar Year
 
   2012
   2013
   2014
Amount allowed for all participants

 $17,000  

 $17,500  

 $17,500  

Additional amount allowed for participants age 50 or over

  $5,500  

  $5,500  

 $5,500  

 

 

Plan Documents

Summary Plan Description
Summary of Material Modifications (HEART)
Summary of Material Modifications (WRERA)

Adoption Agreement with Addendum and Amendments

Basic Plan Document
Basic Plan Document Amendment (HEART)
Basic Plan Document Amendment (WRERA)

Detailed information about these plans may be obtained from Human Resources, x4689. Human Resources also has booklets which provide guidance on how to determine and meet one's financial needs in retirement that you may request. 

 

TIAA-CREF Individual Counseling Sessions

Representatives from TIAA-CREF are on campus on a regular basis to provide individual counseling sessions on current investment strategies, meeting long-term investment goals, asset allocation and general retirement and financial planning issues.  If you would like to schedule a personal meeting with a TIAA-CREF representative, please visit their meeting schedule website or contact them by phone  at (800) 732-8353 to make an appointment.

Financial Consultant Services

Individual Meeting Dates:

        Thursday, June 5

        Tuesday, June 17

        Tuesday, July 15

        Wednesday, July 30

        Wednesday, August 6

Resources:

DOL Savings Fitness Booklet
 

Cupola