Human Resources
Waller Hall, First Floor
Willamette University
900 State Street
Salem, Oregon 97301
503-370-6210 voice
503-370-6570 fax
Retirement Information
The Willamette University Defined Contribution Retirement Plan
One of the most valuable benefits provided to eligible employees of Willamette University is our Defined Contribution 403(b) Retirement Plan. Upon enrollment in the plan, in exchange for a mandatory contribution by the employee of 1% of his/her gross pay, the employee receives a contribution of 10% of gross pay from the University. Elibility is extended to all continuing, non-temporary faculty and staff who work at least 1,000 hours (or are at least 50% of full-time). Benefits may be extended to temporary faculty and staff if temporary service continues for two successive years. Employees are immediately vested, which means all contributions made into your account are yours right away!
Eligible employees have two companies from which to choose in participating in this program, AIG Retirement and TIAA-CREF. Enrollment forms and information specific to each of these vendors may be obtained through the Human Resources office. You may also visit their websites by clicking on their names above.
For more information on eligibility and provisions under this plan, please see the Summary Plan Description (SPD). Where information on this website and the terms of the Plan Document and/or SPD vary, the Plan Document shall govern.
The Willamette University Supplemtental Retirement Contribution Plan
ALL employees may sign up for participation in a Supplemental Retirement Account upon hire. There are three providers, TIAA-CREF, AIG Retirement, and VANGUARD from which to choose. Employees may be able to contribute up to the IRS maximum deferral limit, which for 2008 is $15,500. Additional "catch-up" contributions may also be available to you. For more information on Supplemental Retirement accounts, click here.