403(b) Defined Contribution Plan

 Summary of Retirement Plans 2016
 403(b) Defined Contribution Plan Document
 Enrollment Booklet 403(b)
 Easy Access Guide



Ivy Tech Community College is pleased to provide you with a retirement benefit to supplement your retirement income. No one source of income by itself is likely to be sufficient for your retirement needs. The income from your Ivy Tech Retirement Plans will add to the income you will receive from Social Security, retirement income from other employers, and any other investments you may hold. Our 403(b) Defined Contribution Retirement Plan offers you many advantages in comparison to utilizing a typical savings account. With the Ivy Tech Retirement Plan, the money contributed on your behalf by the College is not taxed. All employees are immediately eligible to make pre-tax contributions to this plan. Your contributions are directed to Transamerica Retirement Solutions.


Eligibility

All full-time, benefits-eligible faculty and staff members are eligible to receive college contributions to their retirement account after two years of continuous benefits-eligible service. Positions classified E-3 or F-3 and above are immediately eligible to participate.  This waiting period is waived upon hire if the employee has participated in a retirement plan sponsored by an institution of higher education within the last 6 months from date of hire to which the employee’s prior employer made contributions.

Please note, employees in Classifications N2-N5 hired on or before June 30, 2014, the College will make contributions in an amount determined by the State of Indiana to a PERF account.


Contributions

When you become eligible to receive the College contribution, the College will make per pay contributions equal to 12% of your base compensation. the college contributions are immediately 100% vested.


Enrollment

To enroll in any of the Ivy Tech retirement plans, visit the participant website ivyretirement.trsretire.com or call 800-755-5801. 


Additional Information

Additional information can be found in the 403(b) Summary Plan Description.  You may contact Transamerica Retirement Solutions directly at 800-755-5801 or online ivyretirement.trsretire.com