Retirement Savings
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CCSU Non-Teaching Retirement Plan
Eligible employees who are not covered under VSTRS nor VMERS may be eligible to participate in the CCSU Non-Teaching Retirement Plan (403(b) Plan). The 403(b) Plan is currently available through Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF). As of 1/1/09, the 403(b) Plan shall be provided through the VT State 403(b) Investment Program. Employees should refer to their master agreement or individual employment contract for eligibility information.
Employee contributions into the plan are voluntary. After working two consecutive years of service for a minimum of 1000 hours each year, eligible employees shall receive a basic District contribution equivalent to 3% of the employee's pay into the plan, regardless to whether or not the employee is contributing; and for those eligible employees who elect to make Plan Contributions, a Matching Plan Contribution of up to 3% shall also be made by the District.
Please refer to the Plan Summary or Plan Description for more information. If you are a participating employee and would like to change your current contribution amount, please complete a submit a Salary Reduction Agreement. PLEASE NOTE: All participating employees shall be required to complete a new Salary Reduction Agreement by 12/15/08 in order to continue contributions into the Plan as of 1/1/09.