Defined Contribution 403(b) Plan
Effective June 1, 2017 our 403(b) Defined Contribution Plan will move to a new to a new record-keeper, Principal. A Recordkeeper is the entity responsible for maintaining participant data, contributions and investment options and for supporting the Plan Sponsor (WHOI) to meet regulatory requirements and filings. Click the link above to find more information on the transition, including a temporary transition website that we have partnered with Principal on to bring you all the information you need related to the transition.
Please join the WHOI HR team on June 13th for the 2017 Retirement Fair. The Retirement Fair will be held in Clark 507 from 10 am to 2 pm. The Retirement Fair is aimed at providing education and resources to help our employees prepare for retirement, regardless of how far away (or close) retirement is. The breakout sessions begin at 9 am and will have various topics focused on three (3) segments of employees: Early Career, Mid-Career, and Late Career.
WHOI offers a Defined Contribution 403(b) retirement savings plan. The Defined Contribution 403 plan is a tax-defered 403(b) plan which allows for employees to contribute a percentage (%) of their eligible earnings each pay period on a pre-tax or post-tax basis into the investment options in the Plan that they choose to invest in.
Members of the Defined Contribution Retirement Plan (DCRP) Committee are appointed by the Board of Trustees and have been delegated with the responsibility of administrative and fiduciary oversight of the Plan.