The College's retirement program is underwritten by Teacher's Insurance and Annuity Association (TIAA) and the College Retirement Equities Fund (CREF). College and employee contributions are used to purchase shares in these funds.
The shares are fully vested, portable annuities. TIAA invests almost exclusively in broadly diversified stocks. Employees have the right to determine how theirs and the College's contributions are allocated between these two funds.
Eligibility to receive the College's contribution occurs when one enters a benefits eligible
Employees contributions are deducted from their pay under a reduction agreement. Under this
Supplemental Retirement Annuities (SRA)
Participation may begin on
ROTH 403b Option
Contribute after-tax dollars, enjoy tax-free distributions after age 59 1/2.
NOTE: These plans have been described
All employees of Kenyon College who receive compensation reportable on an IRS Form W-2 are eligible to participate in the Plan, as long as the employee contributes a minimum of $200 per year. (Kenyon College students are not eligible to participate.)
Please take a moment to review the plan brochure before enrolling. Once you are enrolled, you can review and change
Also, please be aware that the law limits the amount you may defer under this and other plans in any tax year. For 2017, the limit under all plans of this type is generally $18,000 although larger limits may apply if you are age 50 or over or you have at least 15 years of service with Kenyon College. Each participant only gets one limit for contributions to all 403(b) plans, so if you are also a participant in a 403(b) plan of another employer, your combined contributions to that plan and to the Kenyon College plan(s) in 2015 is generally limited to $18,000. If you do participate in more than one 403(b) plan, you are responsible for tracking and reporting the amount of all of your contributions to the plans so that the total amount of all your contributions to all plans in which you participate do not exceed the limit.
For further details, or if you have questions, please contact the Office of Human Resources at (740) 427-5173. You may also visit the TIAA Kenyon Microsite.
*Kenyon College does not make employer contributions to the Kenyon College Tax Deferred Annuity Plan. Employees who meet the eligibility criteria will receive an employer contribution when they participate in the Kenyon College Defined Contribution Retirement Plan or the Kenyon College Defined Contribution Retirement Plan for Collective Bargained Employees.
Universal Availability Notice
Kenyon College (the "plan sponsor") provides you with the opportunity to save for your retirement through the Kenyon College Tax Deferred Annuity Plan* (the "Plan"). Your employer would like you to know more about how you can participate in the Plan. Whether you want to enroll in the plan, or you are already enrolled but wish to change the amount of your deferral, you can accomplish your goal by filling out a "403(b) Salary Reduction Agreement." You can obtain a copy of the agreement and a Summary Plan Description from the Kenyon College Office of Human Resources at 209 Chase Avenue, or by calling (740) 427-5173. You may also download the Summary Plan Description here.