There is no waiting period to begin making voluntary tax-deferred annuity contributions to the 403(b) TDA Plan.

You'll be automatically enrolled in the Davidson TDA Plan through Fidelity at a contribution rate of 2% of your pretax eligible earnings unless you choose another provider or contribution rate within the first 30 calendar days of your eligibility. If you do not make an active election, based on your date of birth and assuming a retirement age of 65, you will be invested in a Vanguard Target Retirement Fund with a corresponding target retirement date. Review the contribution amount and investment strategy to ensure they meet your needs. If you do not want to contribute to the Plan at this time, you may change your contribution rate to 0%. However, we hope that you take advantage of this great benefit, and we encourage you to take an active role in your retirement planning.

In order to be eligible for the 403(b) Retirement Plan and receive the College's contribution, an employee must have one year of service with the College and have worked 1,000 hours. In addition, you must be employed in a position that is eligible for 403(b) contributions. Temporary employees and adjunct professors are not eligible for 403(b) contributions.

If you were eligible to receive employer contributions under a 403(b) retirement plan maintained by a prior employer within the one-year period immediately preceding employment at Davidson College, the one year waiting period may be waived. To secure such a waiver you must complete the “Verification of 403(b) Retirement Plan Eligibility Form” and submit a pay stub or attestation from former employer.

To enroll online visit www.netbenefits.com/davidson, or by calling the Fidelity Retirement Benefits Line at 800-343-0860, and TIAA at 800-842-2252.

Your enrollment becomes effective once you elect a deferral percentage, which initiates deduction of your contributions from your pay. These salary deductions will generally begin with your next pay period after we receive your enrollment information, or as soon as administratively possible.

Decide how much of your salary you'd like to save in your workplace retirement savings plan. For help, use our 403(b) calculator to determine the maximum amount of your salary you can contribute. For resources go to netbenefits.com/davidson/resources

You can choose to direct 100% of your deferral election to one provider or split your deferral election to contribute a portion to each retirement provider. For example, you can elect to direct 50% to Fidelity and the other 50% to TIAA. Or you can elect any other split you prefer as long as the total equals 100%.

If you have reached age 50 or will reach 50 during the calendar year January 1 – December 31 and are making the maximum plan or IRS contribution, you may make an additional catch-up contribution each pay period. The maximum annual catch-up contribution is $7,500. Going forward, catch-up contribution limits will be subject to cost-of-living adjustments (COLAs) in $500 increments.

Starting in 2025, the SECURE 2.0 Act increases the limit for you if you have attained age 60, 61, 62, or 63 in a given calendar year. The limit for 2025 is $11,250.

The IRS contribution limit for 2025 is $23,500.

You are always 100% vested in all contributions to the Davidson College TDA Plan, as well as any earnings on them.

To help you meet your investment goals, the Plan offers you a range of options. You can select a mix of investment options that best suits your goals, time horizon, and risk tolerance. The many investment options available through the Plan include conservative, moderately conservative, and aggressive funds. A complete description of the Plan’s investment options and their performance, as well as planning tools to help you choose an appropriate mix, are available online.

We encourage you to take an active role in the Davidson College TDA Plan and choose investment options that best suit your goals, time horizon, and risk tolerance. If you do not select specific investment options in the Plan, your contributions will be invested in the Vanguard Target Retirement Fund with the target retirement date closest to the year you might retire, based on your current age and assuming a retirement age of 65, at the direction of Davidson College.

If no date of birth or an invalid date of birth is on file at Fidelity, your contributions may be invested in the Vanguard Target Retirement Income Fund. More information about the Vanguard Target Retirement Fund options can be found online.

Target Date Funds are an asset mix of stocks, bonds and other investments that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed.

Although your plan account is intended for the future, you may borrow from your account for any reason.

Please contact your investment service provider directly for more information on taking a loan from your plan.

Fidelity: Call 800-343-0860 or log in to your account by entering your username and password at the top of the website.

TIAA: Call 800-842-2252 or log in to your account by selecting TIAA in the drop down box at the top of the page under Your Account and follow the prompts to the TIAA website.

Withdrawals from the Plan are generally permitted when you terminate your employment, retire, reach age 59½, become permanently disabled, or have a severe financial hardship, as defined by your plan.

For more information, call the Fidelity Retirement Benefits Line at 800-343-0860.

If you have an account with TIAA, you can call 800-842-2252.

If you have retirement savings in another employer's plan or in an IRA, consolidating accounts may help make it easier to manage your savings but there are several options. Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

If you're not sure about the best option for you, talk to a Fidelity or TIAA representative today. They can explain each option in greater detail so you can make the best choice for your specific needs.

Fidelity: Call 800-343-0860 or log in to your account by entering your username and password at the top of this website.

TIAA: Call 800-842-2252 or log in to your account by selecting TIAA in the drop down box at the top of the page under Your Account and follow the prompts to the TIAA website.

Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

If you have not already selected your beneficiaries, or if you have experienced a life-changing event such as a marriage, divorce, birth of a child, or a death in the family, it’s time to consider your beneficiary designations. Fidelity’s Online Beneficiaries Service, offers a straightforward, convenient process that takes just minutes. To make your elections, click on the “Profile & Settings” icon in the upper right-hand corner, then select “Beneficiaries” and follow the online instructions.

If you have an account with TIAA, you will need to contact TIAA directly to update your beneficiaries by clicking on the drop down box at the top of the page under Your Account and change the page from Fidelity to TIAA or call 800-842-2252.

Learn about loans, exchanges, and more online. In particular, you can access loan modeling tools that illustrate the potential impact of a loan on the long-term growth of your account. You will also find a withdrawal modeling tool, which shows the amount of federal income taxes and early withdrawal penalties you might pay, along with the amount of earnings you could potentially lose by taking a withdrawal. Additional information can be obtained by calling the Fidelity Retirement Benefits Line at 800-343-0860.

Now is a great time to schedule an appointment to discuss your goals for retirement.

For confidential consultations with Fidelity, call 800-343-0860 or go online at https://nb.fidelity.com/public/nb/davidson/contactus/schedule-a-meeting

For confidential consultations with TIAA, call 800-732-8353 or go online at https://www.tiaa.org/public/support/contact-tiaa/consultations-seminars

The third parties mentioned herein and Fidelity Investments are independent entities and are not legally affiliated.