Bowdoin College Retirement Plan – Plan Document
Bowdoin College Retirement Plan Summary Plan Description
Bowdoin College Retirement Plan - 1st Amendment
Bowdoin College Retirement Plan – 2nd Amendment
Bowdoin College Retirement Plan 204(h) Notice
Bowdoin College 401(a) Plan
Employees who have worked at least 1,000 hours over a 12-month period and are at least age 26 become eligible to receive retirement savings from the Bowdoin College 401(a) Retirement Plan.
Cost
Unlike many retirement plans, you do not need to make your own contributions in order to be eligible. Bowdoin will make contributions to your account based on the chart below:| Your Age | Amount of Contribution |
| 26 - 49 | 10.12% of your compensation |
| 50 or older | 12.13% of your compensation |
In addition, Bowdoin will contribute an amount equal to 4.3% of your compensation in excess of 60% of the Social Security Wage Base in effect on each July 1st. The Wage Base is updated every year. The figure for 2023 is $160,200, so employees who earn more than $96,120 are eligible in fiscal year 2023-2024.
You are fully “vested” for all retirement funds. This means that if you retire or simply end your employment with Bowdoin, all funds belong to you (both the contributions and the investment earnings).
If you also wish to contribute money to your retirement, you can take part in the Supplemental 403(b) Retirement Account.