Employees can make their own pre-tax contributions to the Retirement Plan immediately upon hire.
You may contribute amounts either to a Retirement Choice or a Retirement Choice Plus contract, or both, up to the IRS limits. Please complete the appropriate application(s).
Upon satisfying the two-year period-of-service requirement, each fiscal year the employer will contribute 6% of regular salary up to $50,100 and 9% of any amount over $50,100.
Note: Employer contributions will go to the employee's Retirement Choice account, even if employee contributions are made to a Retirement Choice Plus account. Therefore, you must complete a Retirement Choice application if eligible for employer contributions.
Amherst employees eligible to receive employer contributions may contribute up to 3% of salary on a pre-tax or after-tax basis and receive a match on their contributions. Folger employees may only contribute pre-tax contributions in order to receive a match.