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Retirement Plans

Faculty and staff will participate in the College's Regular Retirement Plan (403(b) Plan) after completing one year of eligible service (i.e., 1000 hours in an anniversary year). This waiting period is waived, however, upon the faculty or staff member providing acceptable documentation of prior eligible service with an employer that sponsored a 403(b) Plan. Early Entry Form.

Participation in the Swarthmore plan is mandatory, and contributions to the plan continue as long as the employee is actively employed by the College. Employees are 100 percent vested in their accounts on the date participation begins. Contributions to this basic portion of the Retirement Plan are calculated according to the following schedule:

Contribution Schedule
  College Contribution Employee Contribution
First $20,000 of annualized salary 10% 0%
Annualized Salary in excess of $20,000 10% 5.5%

How do I put more money into my retirement plan?

You need to complete a new Salary Deferral form.  Any new agreement replaces the one on file.

Additional Basic Contributions

Employees are not limited to the above percentage levels. They may contribute additional sums on a voluntary basis up to a legally allowed maximum. However, the College will not make any additional College contributions on their behalf. Like contributions to the basic portion of the Retirement Plan, additional contributions will be withheld from the employee's pay on a before-tax basis.

Supplemental Retirement Plan

A benefits eligible employee of Swarthmore College may also elect to have a portion of his or her salary, up to a legally allowed maximum, contributed to a supplemental retirement account. Like contributions to the basic portion of the Retirement Plan, supplemental contributions will be withheld from the employee's pay on a before-tax basis.

Notice: This plan is governed in accordance with provisions of the Plan Documents and related Administrative agreements.  Please refer to the Summary Plan Description for additional details.