Where I come from, the exempt staff, non-exempt staff, and faculty all get the same retirement deal. Go go gadget union!
Univ contributes 5% of salary for the under-40 set, up to Soc. Sec. wage base ($102K), after 6 mos. employment and vesting after 3 years. Employee doesn't have to match, and can do a separate tax-deferred thing (TDA, I think a 403b) at a minimum $20/mo up to $15.5K per year under age 50.
So yeah, $5100 seems awfully low, for nearly 6 years of service. That's a lot less than 5%, am I right?
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branchandroot
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Date: 2008-09-22 09:17 pm (UTC)Univ contributes 5% of salary for the under-40 set, up to Soc. Sec. wage base ($102K), after 6 mos. employment and vesting after 3 years. Employee doesn't have to match, and can do a separate tax-deferred thing (TDA, I think a 403b) at a minimum $20/mo up to $15.5K per year under age 50.
So yeah, $5100 seems awfully low, for nearly 6 years of service. That's a lot less than 5%, am I right?