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Part I — Earlham Benefits Section 4 All full-time employees are automatically enrolled in the Earlham College Pension Plan upon completion of two consecutive (2) years of full-time service. Each employee must complete an application upon enrollment into the pension plan, so as to designate his/her beneficiary and indicate which investment options are desired. Upon completion of two (2) consecutive years of full-time service, Earlham will begin contributing an amount equal to 5% of gross pay to the pension plan on the employee's behalf. Upon completion of three (3) consecutive years of full-time service, Earlham will increase its contribution level to an amount equal to 10% of gross pay. Contributions are made monthly by Earlham and are calculated on the gross pay, excluding supplementary pay, during the previous month and are immediately vested at 100%. A summary plan description explaining the plan in detail is available upon request from the Earlham Business Office. Quarterly reports are issued by the pension plan company to each participant in the plan. Tax Deferred Annuities Employees may make voluntary contributions to a tax deferred annuity program. This type of program is similar to but separate from the pension plan. For more information, contact the Business Office. |
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Earlham College · 801 National Road West · Richmond,
Indiana 47374-4095 |