403(b) and 401(a) Plans
GW is pleased to offer savings opportunities via two primary Retirement Plans.
The George Washington University 403(b) Supplemental Plan – This plan allows you to make Pre Tax or Post Tax Roth contributions. Please see the Summary Plan Description:
GW Supplemental Retirement Plan (403(b) Plan).
For detailed information on the Post Tax Roth 403(b), Click Here.
The George Washington University 401(a) Retirement Plan for Faculty and Staff (commonly referred to as the Employer Base Plan) — This plan governs the University base and matching contributions. You are eligible for the University base and matching contributions upon two years of service. You are eligible to participate in this plan; GW will contribute 4% of your eligible annual compensation automatically into this plan. Please see Summary Plan Description GW Retirement Plan For Faculty and Staff (401(a)Plan).
To learn more about general plan options, how to enroll, investment providers and funds offered go to:
To support faculty and staff in realizing their savings goals, GW offers a competitive retirement plan package with a selection of investment options. You have the opportunity to invest in a variety of funds from multiple providers. Enrolling in the GW Retirement Plans makes saving automatic. The money you contribute is conveniently deducted from each paycheck. And tax-deferred earnings help maximize the potential for your retirement contributions to grow over time.
You contribute a specified amount or percentage of your pay, by payroll deduction, before income tax withholding is calculated. This reduces your current taxable income and lets you save money that otherwise would have gone toward income taxes.
Current taxes on contributions to your account, and on interest and earnings from the account, are deferred until withdrawal or when you begin receiving regular payments. Tax-deferred earnings, coupled with the power of compounding, can provide greater growth than might be possible with taxable savings methods.
Please Note: Investment values will fluctuate so that an investor's units, when withdrawn, may be worth more or less than the original cost.
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