403(b) Tax-Deferred Annuities Plan

403(b) Tax-Deferred Annuities Plan

Information for Part-Time Employees

Part-time faculty and staff at CPCC are eligible to participate in the 403(b) tax-deferred annuities plan for retirement savings. Participation is voluntary and there is not a matched contribution from the college. A 403(b) plan is similar to a 401(k) plan and has the same annual limits. In 2009, a participant can contribute up to $16,500 and an additional $5,500 for participants who are age 50 or older.

There are two vendors currently participating in the 403(b) plan, TIAA-CREF and AIG Retirement (formerly Valic). TIAA-CREF and AIG Retirement offer wide choices of investment options. For additional information, please visit the company’s website or contact a representative for consultation:

  AIG Retirement                                                  TIAA-CREF

 http://www.aigretirement.com                               http://www.tiaa-cref.org

  Rick Hastings                                                    800-842-2776

 800-892-5558, Ext. 88110

For an enrollment application, please contact the Human Resources Department at 704-330-6631 or email CPCC Human Resources.