The College offers the opportunity for employees who are scheduled to work 20 or more hours per week to defer into a tax-deferred investment plan. Individuals have the option of choosing their investments through TIAA and a ROTH option is available.
Coverage for full-time (37.5-40 hours per week) faculty and staff and part time employees scheduled to work at least 20 hours per week. The College will match an individual's contribution for the 403(b) plan up to 5% of their earnings per pay with a 2:1 match. This means for every dollar you contribute up to 5% of your earnings, the College will contribute two dollars.
Go TIAA website to access tools and calculators by clicking here.
Champlain College has a Roth deferral option with its 403(b) Plan. This can be elected at any time through Workday. A Roth option allows you to have your contributions taken on an after-tax basis, which means a qualified distribution is taken on a tax-free basis.
Annual notices required to disclose the defaulted investment option.
Visit TIAA website.
The consultant for TIAA is Erik Moreau at (603) 653-5145 or (866) 904-7801 x275145
If you would like to speak to a non-affiliated consultant please contact Melanie Brown, (802)-488-8715, at Hickok & Boardman