Retirement Savings Options
Whitman College currently offers two retirement plans to employees, both provided by TIAA.
The Whitman College 403(b) Defined Contribution Retirement Plan is available to all regular employees who are appointed at least 1,000 hours per year (48% of full-time). Eligible employees may begin participation in this plan on a voluntary basis on or after the first day of the month after completing one year of service at Whitman College. An employee who has met the one year of service requirement at another institution of higher education during the 12 months immediately preceding their date of employment at Whitman College will be considered to have met the service requirements for Whitman and can join the plan immediately.
Whitman College may make a matching contribution for those participants voluntarily participating. The current College contribution is 10% for all employees who contribute 2% of their salary. College contributions are based on appointed salary without overtime.
All GRA contributions are distributed into a pre-tax elective deferral.
The Whitman College 403(b) TDA Plan is available to all Whitman College employees regardless of appointment level or length of service with the College. The College does not make any matching contributions to this plan. The GSRA salary reduction is voluntary and may be distributed into a pre-tax elective deferral or a post-tax Roth elective deferral at the employee's discretion.
What type of savings is right for you? Planning for your future is vital. Please review the brochure on Active vs. Passive Mutual Funds.
For more information regarding Whitman College offered retirement plans please review the Summary Plan Description