Retirement
Carleton College Defined Retirement Plan (Non-Union):
Regular, benefit-eligible, non-union employees that are 21 years of age or older must participate in the Carleton TIAA-CREF Retirement Plan. The employee contributes 2% of their base salary and the College contributes 10% of the base salary for each participant. Contributions are made on a pre-tax basis and are subject to immediate vesting.
IUOE Central Pension Fund (Union):
Regular, benefit-eligible, union employees participate in the IUOE Central Pension Fund of the International Union of Operating Engineers. Union employees are not able to participate in or be covered by the Carleton College Defined Retirement Contribution Plan. Under the current contract bargaining agreement for the period of July 1, 2009 through June 30, 2010, the College will contribute $2.00 per hour for which an employee works (up to 40 hours in any work week); union employees must have successfully completed their probationary period and achieved seniority in order to participate.
Group Supplemental Retirement Accounts (Non-Union and Union):
GSRA (Group Supplemental Retirement Accounts) are also available to interested employees that are 21 years of age or older who would like to contribute additional retirement funds through TIAA-CREF. Contact Human Resources (x5989) for more information.
Check out these web sites:
Carleton microsite at TIAA-CREF
On-line Webinars to learn about your retirement plans, investment options and retirement income options
A variety of on-line calculators to help you plan for retirement