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 Application for Dependent Tuition Subsidy Application for Tuition Reimbursement 2006 Electronic Enrollment Form Mid-Year Family or life status changes |
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Colby's Retirement Annuity Program
Colby's base contribution to the Retirement plan is 8 percent and the employee mandatory salary reduction is 2 percent. The College will contribute 10 percent on earnings above $84,900. (Some pre-1993 employees received additional supplemental contributions to the Retirement Plan associated with the termination of the Retirement Plan for Non-Academic Employees. Those additional contributions will continue to be made.)
If you would like to make additional contributions towards your retirement, you may do so by making additional voluntary contributions to your retirement annuity, supplemental retirement annuity (SRA), or to one of several other tax-deferred annuities (TDAs) offered through the College. Additional voluntary contributions are subject to Internal Revenue Code limits -- $15,000 in 2006 ($20,000 for employees age 50 and older) - and require execution of a salary reduction agreement.
If you would like an estimate of your tax deferral limit for 2006, please contact Mary Nelson, Benefits Specialist, at extension 5503 (e-mail:mnelson). Please remember that contributions to tax deferred annuities require execution of a salary reduction agreement and may be changed only once per calendar quarter. IRAs
You may also be able to contribute up to $3,000 to a Traditional or Roth IRA, subject to the limits of the tax code. These limits will increase by various amounts each year until reaching $5,000 in 2008. Thereafter, these limits will be indexed in $500 increments. |
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© Colby College Office of Human Resources 5500
Mayflower Hill Drive Waterville, Maine 04901-8855
T: 207-859-5500 F: 207-859-5505 hsbumps@colby.edu