Eligible employees who contribute 5% or more will receive up to a 10% contribution (the 2010-11 rate is 8.5%) from the College. This is a before-tax benefit.
The retirement plan is available to all full-time employees after one year of employment with the College. Prior service at any non-profit higher education institution immediately preceding employment at the College will count toward satisfying the one-year requirement.
Employees may begin individual contributions immediately upon hire as long as their contributions for the year are not less than $200. The employee is vested in the program from inception.