TEACHER’S COLLEGE, COLUMBIA UNIVERSITY DC RETIREMENT PLAN Contribution & Employer Match

TEACHER’S COLLEGE, COLUMBIA UNIVERSITY DC RETIREMENT PLAN Average Participant Retirement Account Value

TEACHER’S COLLEGE, COLUMBIA UNIVERSITY DC RETIREMENT PLAN Estimated Average Employee Contribution Amount

• Each year, participants may contribute up to the maximum annual limit ($23,000 in 2024) of pretax annual compensation, as defined in the plan document.
• Eligible employees over age 50 may elect to make additional contributions to the Plan under the age 50 catch-up provisions in IRC Section 414(v).

• For covered employees, the College makes a mandatory contribution of 8% of an employee’s base salary (as defined) if hired into benefit-eligible positions prior to January 1, 2006 and 5% for employees hired thereafter.
• For covered employees hired prior to January 1, 2006, the 8% mandatory contribution is increased to 9% commencing upon the covered employee’s attainment of age 45, provided that the covered employee elects to waive his or her rights to receive College contribution benefits available to eligible employees (hired prior to 2006 and who have reached age 55 with 15 years of eligible service) under the College’s retiree medical benefit plan.
• The College will make an additional matching contribution of up to 250% of the covered employees’ salary deferral election.
• The salary deferral eligible for a matching contribution shall not exceed 2% of the employee’s total salary.

• All contributions are fully vested immediately.
• Income or losses thereon are also fully vested.