Eligibility:                All faculty and staff working a regular schedule

                               of half-time or more; no waiting period.

 

Participation:          Positive enrollment required; participation may

                               start or stop at any time; no minimum service

                               period required

 

Type of Plan:          Defined Contribution; Qualified under

                               IRC § 403(b)

 

Funding:                 Funded solely by employee payroll deduction

                               with discretionary, tax-deferred retirement

                               savings; savings rate may be changed at any

                               time; minimum contribution $25 per month;

                               maximum contribution varies annually

                               [see Retirement Services Office]

 

Benefit:                   Based on value of accumulated contributions

                               and age at retirement; fully-cashable without

                               penalty at age 59½

 

Other Features:      Self-directed investment program, automatic

                               spouse survivor benefit; portable to most other

                               educational organizations; loan provision

                               available

 

Forms:

Retirement Plans of the Claremont Colleges

Central oversight by the Office of Risk Management and Benefits Administration - Pendleton Business Center

Retirement Services

Tax Deferred Annuity (TDA) Plan

This form must be printed out and

the original signed-copy submitted.  Email and FAX copies cannot be accepted.

Click Here for TDA Change Form

Microsoft Word Doc.