Early retirement may be taken at age 55. Employees may begin making pre-tax contributions to either plan as soon as they are employed at Belmont. The maximum employee pre-tax contributions allowed are defined by IRS and federal regulations. Employees can contact either the Annuity Board, TIAA-CREF or their personal financial planner for advise on personal contributions. After one year of eligibility service, employees are qualified to receive tax-sheltered employer matching contributions.
All funds are taxable for social security purposes.
Prior years of service at other institutions of higher learning will apply toward the one-year wait for Eligibility Service.