Retirement Plans
Middlebury College is committed to helping employees build a secure financial future.
We offer generous matches to employee contributions. TIAA-CREF, an industry leader specializing in retirement for non-profit institutions, provides valuable guidance and oversight. Counseling and advice is also available from TIAA-CREF to help employees navigate the world of investments and retirement planning.
Core Plan
All benefits-eligible employees (21 years and older) are required to contribute to our core retirement plan and all participants receive a generous match from the College.
Core Plan Description (401a)
|
Years of Service |
Employee Age |
Participant Contribution Rate** |
College Contribution Rate |
|
0-2 |
21+ |
3% |
3% |
|
2+ |
<45 |
3% |
9% |
|
2+ |
>45 |
6% |
15% |
New employees may qualify to go directly to the 9% or 15%
employer contribution level if the employee had participated
in a 401a, 401k, or 403b plan with a previous employer
within 6 months of the date of hire with Middlebury AND
that previous employer contributed in excess of 3% to the
retirement plan. Various restrictions apply: See HR for details.
Voluntary Plans
Employees may choose to contribute additional amounts to the voluntary plans.
