The University offers a retirement plan with Transamerica with tax deferred/sheltered features. The University contribution to the retirement plan is 9.5% of the faculty/staff member's regular salary, provided the faculty/staff member contributes at least 5%. Vesting is 100% upon enrollment.
Effective January 1, 2014 through December 31, 2014: Contribution rates are evaluated annually and subject to change, from time to time, at the sole discretion of the university.
Note: This summary is to be used for discussion purposes only. The Summary Plan Descriptions available from Human Resources contain detailed descriptions of the benefits. The Plan Document, on file in Human Resources, is controlling for the adjustment or settlement of disputed claims.