Mandatory Retirement Plan - Affliated Faculty in AFEC
Effective September 1, 2020, Affiliated Faculty who are members of AFEC with at least 48 teaching credits will become participants in the Emerson College Affiliated Faculty Mandatory Retirement plan. This plan includes a 1.5% employee mandatory contribution, and a 3% employer contribution. However, the 1.5% employee contribution has been suspended for one year (until 9/1/2021), so only the 3% employer contribution will occur. Vesting is 100%, meaning you own all contributions immediately once in your account.
Contributions to the Mandatory Retirement Plan will be directed to accounts with Transamerica.