Retirement Plans

Matching Retirement Plan

The College provides retirement benefits through a 403(b) tax-deferred defined contribution plan. Eligibility criteria and waiting periods for the College’s matching contribution vary by classification of employment. An employee who meets the eligibility requirements must contribute, as a condition of employment, 3% of base salary on a pre-tax basis to receive the College’s 9% match. Upon enrollment, all contributions are 100% vested.

You may elect to direct your contributions to accounts with Fidelity, TIAA-Cref, or VALIC. Your election may include one, two or all three of these vendors.

In order to the vendor to receive these funds, you must establish an account with the vendor(s) of your choice.  To access a Fidelity application, click on this link: Fidelity Retirement Plan Application. To access a TIAA-Cref application, click on this link: TIAA-Cref Retirement Plan Application.  If you wish to enroll in VALIC, please contact their customer Colin Hatchard, VALIC Plan Representative at 1-800-892-5558, extension 87159.

You will need to complete the appropriate fund application(s) and the Emerson Salary Reduction Agreements form to complete your enrollment. 

Voluntary Tax-Deferred Annuity Plan (TDA)

The College offers a 403(b) tax-deferred annuity plan that allows employees to make voluntary, tax-deferred contributions through payroll deduction to either supplement or initiate their retirement savings. Employees may make pre-tax voluntary contributions to this plan up to the annual limits allowed for 403(b) plans according to the IRS code. No matching contributions are made by the College into the TDA plan.

For the 2013 calendar year, the IRS general limit is $17,500.  Employees age 50 and older can contribute an additional $5,500 under the "catch-up" provision.

In both plans, employees may direct their contributions and those of the College (if applicable) to be invested in funds offered by TIAA-CREF, Fidelity, or VALIC.

To enroll in these plans, an employee must complete the appropriate application and a Salary Reduction Agreement between the employee and the College before deductions can be made. A new agreement is required for each salary deduction change.

The College allows for the execution of four (4) Salary Reduction Agreements per calendar year. Representatives from TIAA-CREF, Fidelity, and AIG Retirement will visit campus for individual appointments several times each year.

Verification of Service Credit

Emerson provides credit towards participation in its matching retirement plan based on previous employment at other accredited, degree-granting colleges and universities. The new employee must fill out a Verification of Service Credit form, verifying that he/she has been employed by another higher educational institution for at least 1000 hours per year and that this employment immediately preceded their employment at Emerson College (within 120 days).