Retirement Plans
Hood sponsors a 403(b) retirement program through TIAA.
Employees select the investment mix for their retirement plan(s). Employee and College (if eligible) contributions are 100% vested.
- Eligibility: Eligible on Date of Hire
- College Contribution: Hood College provides a 1.5% Non-Elective Contribution for all eligible employees no matter what they contribute; and then matches employees up to 5%.
- Employee Contribution: Any percentage of base pay, contributions subject to IRS annual limits.
- Eligibility: Available upon employment or transfer to eligible employment class.
- Employee Contribution: Any percentage of base pay, contributions subject to IRS annual limits.
- College Contribution: Not Applicable.
- Additional Info: Employees who are eligible to make contributions to the Defined Contribution plan can also participate in the Supplemental Retirement plan.
- Amount allowed for participants in 2025: $23,500
- Additional amount allowed for participants age 50 or over in 2025: $7,500
- New super catch up contribution allowed in 2025 for those participants who are ages 60, 61, 62, or 63 in 2025. Those participants may contribute an additional $11,250 above the regular limit. See flyer for details.
- If you are already in the retirement plan and want to change the amount of your contribution, or to determine your eligibility to defer additional funds, please go to How to Enroll & Change Contributions bar above
Updated on 12/17/2024
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Annual Qualified Default Investment Alternative (QDIA) Notices
TIAA Resources
- For general questions call 800-842-2252
- Monday-Friday, 8 a.m.-10 p.m. (EST), Saturday 9 a.m.-6 p.m. (EST)
- Representatives from TIAA are on campus on a periodic basis to provide individual counseling sessions on investment strategies, long-term investment goals, asset allocation and general retirement and financial planning.
- TIAA Virtual Consulting Flyer
- TIAA Visit to Campus
CBIZ Resources
CBIZ is Hood College's independent advisor for the retirement plan.
Upcoming Webinars
| Date | Time | Title |
|---|---|---|
| January 10 | Noon- 1 p.m. | Quarterly economic and market update: Hear from our chief investment officer about |
| January 16 | 2 to 3 p.m. | Invest for success: 5 principles you need Start the new year off right! This webinar can |
| January 18 | 3 - 4 p.m. | Take control of your financial life:
|
| January 24 | 1 - 2 p.m. | Cybersecurity/identity theft protection for
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| February 1 | 3 - 4 p.m. | Opening doors to the future: Save in a 529 college savings plan |
| February 6 | 12 - 1 p.m. | Inside money: Managing money and debt |
| February 15 | 2 to 3 p.m. | She’s got it: A woman’s guide to saving and investing |
| February 21 | 1 - 2 p.m. | Gaining insight: Navigating debt consolidation and understanding the mortgage process |
| March 6 | 2 to 3 p.m. | The starting line: Beginning to save for retirement |
| March 14 | 1 - 2 p.m. | Attention to detail: Financial finishing touches for women |
| March 20 | Noon- 1 p.m. | Paycheck for life: Set your sights on retirement security |
| March 26 | 3 - 4 p.m. | Live with confidence in retirement: Five steps to creating your retirement income plan |
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