Human Resources

Retirement Plans

The College provides retirement benefits through a Matching Retirement Plan. A Voluntary Retirement Plan is also offered. Both plans are administered by Transamerica.

See the applicable links below for information on the two plans, including enrollment information and how to sign up for one-on-one information sessions with a Transamerica representative.

Transamerica Contact Information:

Transamerica Customer Service (Enrollment & Deferral Changes): 800-755-5801

Transamerica Customer Service (Rollovers & Transfers from another plan): 888-976-5602

Transamerica Website

 

  Matching Retirement Plan

 

  Voluntary Retirement Plan

 

  Enrollment Information

 

  On-Site Counseling Sessions

 

  403(B) Savings And Investment Committee

 

  Fee Disclosures

 

  Transition To Transamerica Information

 

  Summary Annual Report

 

Matching Retirement Plan

The College provides retirement benefits through a 403(b) tax-deferred defined contribution plan. Eligibility criteria and waiting periods for the College's matching contribution vary by classification of employment. An employee who meets the eligibility requirements must contribute, as a condition of employment, 3% of base salary on a pre-tax basis to receive the College's 9% match. Upon enrollment, all contributions are 100% vested. 

Emerson provides credit towards participation in its matching retirement plan based on previous employment at other accredited, degree-granting colleges and universities. The new employee must complete a Verification of Service Credit Form verifying that they have been employed by another higher educational institution for at least two years, at at least 1000 hours per year, and that this employment immediately preceded their employment at Emerson College (within 120 days).

To access your account and make fund selections for the retirement plan contributions, go to the Transamerica website

For assistance with registration, see Transamerica Registration Instructions.

For detailed information about the plan, see the 403b Summary Plan Description.

 

Voluntary Retirement Plan

The College offers a 403(b) tax-deferred annuity plan that allows employees to make voluntary, tax-deferred contributions through payroll deduction to either supplement or initiate their retirement savings. Employees may make pre-tax voluntary contributions to this plan up to the annual limits allowed by the IRS. No matching contributions are made by the College into the Voluntary plan.

For the 2019 calendar year, the IRS general contribution limit is $19,000. Employees age 50 and older can contribute an additional $6,000 under the "catch-up" provision.

To access your account, make deferral elections and changes, and make fund selections for the retirement plan contributions, go to the Transamerica website

For assistance with registration, see Transamerica Registration Instructions.

For detailed information about the plan, see the 403b Summary Plan Description

 

Enrollment Information

Contributions to the Matching Retirement Plan and the Voluntary Retirement Plan will be directed to accounts with Transamerica. Register on the Transamerica website to make your fund elections or enroll with or make changes to your voluntary plan contribution amounts.

For assistance with registration, see Transamerica Registration Instructions.

 

On-Site Counseling Sessions

Transamerica representatives will be on-site monthly for one-on-one meetings. A Transamerica Participant Counselor can discuss any of your retirement planning needs, including:

  • How much to save
  • Your investment options
  • Asset allocation
  • Consolidating your savings

A Transamerica Participant Counselor is ready to assist you with selecting the appropriate investments in your retirement plan and assist with your allocation strategy. They will also be available for consultation of your current retirement strategy, and can also help you with completing forms to rollover or transfer funds from a previous plan provider.

We encourage you to bring the most recent copies)of your account statement(s) to your meeting.  

Listed below are the one-on-one meeting dates. To schedule a meeting, go to the One-on-One Meeting Registration page.

All meetings take place in Human Resources at 20 Park Plaza, 13th floor.

On-Site Meeting Dates (2019)

  • Thursday, December 12

On-Site Meeting Dates (2020)

  • Wednesday, January 8
  • Thursday, February 6
  • Wednesday, March 11
  • Tuesday, April 7
  • Wednesday, May 6
  • Thursday, June 11
  • Wednesday, July 8
  • Thursday, August 6
  • Tuesday, September 8
  • Wednesday, October 7
  • Thursday, November 12
  • Wednesday, December 9

 

403(B) Savings And Investment Committee

Retirement Plan Committee Charter and Mission Statement

Origin of the Committee

The Committee was established and its original membership was determined by the Associate Vice President of Human Resources and Vice President of Administration and Finance in April of 2012.

Purpose and Authority of Committee

The purpose of the Retirement Plan Committee is to oversee the investment portfolio of the Emerson College Tax Deferred Annuity Plan (the “Plan”). The Committee also has general oversight and administrative responsibilities with respect to the Plan.

With respect to the Plan, the Committee has been designated a "named fiduciary" within the meaning of Sections 402(a)(2) and 402(c)(3) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA").                                                                                           

The Committee shall have the responsibility to:                                         

  • Select and monitor service providers, including record keepers, trustees, and investment managers/providers.
  • Establish and review periodically an investment policy statement to guide the selection and monitoring of investment options.
  • Review and approve the selection of investment options offered to employees for the Investment of contributions under the Plan.
  • Provide a periodic report to the Finance Committee and the President’s Council on the investment performance and fees of the investment options within the plan.
  • Appoint other agents as the Committee deems necessary or desirable in connection with carrying out its responsibilities.
  • Delegate to investment managers and other agents that are appointed by the Committee such powers and duties, discretionary or otherwise, as the Committee may deem appropriate.
  • Administer and interpret the terms of the Plan.
  • Delegate authority and responsibility as the Committee deems proper and periodically review such delegations.
  • Conduct other activities within the scope of the Retirement Plan Committee's purpose and authority as determined by the Vice President of Administration and Finance or the President’s Council may determine.
  • Periodically review this charter and make recommendations to the Board of Directors with regard to any changes to the charter that the Committee believes would be desirable.

Membership

The Committee shall consist of those directors or faculty of the College appointed by the Vice President of Administration and Finance via delegated authority from the Board of Directors. Participants of the Committee will serve renewable 3-year terms, subject to the willingness of the Committee members. The Senior Associate Vice President and the Director of Compensation and Benefits will be permanent members of the Committee.

Other changes in Committee membership are subject to review and approval by the Vice President of Administration and Finance.

The Current Members of the Committee Include:

William Gilligan, Vice President for Information Technology
Shari Stier, Senior Associate Vice President of Human Resources
Sharon Duffy, Assistant Vice President, Campus Life
John Richard, Director of Budget
Alan Bowers, Director of Treasury
Eiki Satake, Professor
Eric Weiss, Director of PA Programming
Peter Owens, Asst. VP, Compensation, and Benefits

Employees of the College will be informed within 30 calendar days when there are changes to the membership of the Committee.

Meetings

The Committee shall meet on a regular basis to carry out and its responsibilities and document its decisions and actions. Meeting minutes will be provided for each planning meeting and will be available for review by plan participants. 

Rules and Procedures

As provided under the Plan, the presence of a majority of the membership of the Committee shall be necessary to constitute a quorum. The affirmative vote of a majority of the members present shall be necessary for the adoption of any resolution.

Meeting agendas are developed by the Committee Chair in consultation with the Committee members. Agendas are circulated to Committee members prior to meetings.

403(b) Savings & Investment Committee Meeting Minutes

403(b) Minutes March 6 & March 16 2017

403(b) Minutes December 16, 2016

403(b) Minutes September 8, 2016

403(b) Minutes April 28, 2016

403(b) Minutes April 15, 2016

403(b) Minutes March 22, 2016

403(b) Minutes December 11, 2015

403(b) Minutes March 27, 2015

403(b) Minutes December 3, 2014

403(b) Minutes September 19, 2014

403(b) Minutes July 2, 2014

403(b) Minutes March 24, 2014

403(b) Minutes November 18, 2013

403(b) Minutes May 18, 2012

403(b) Minutes April 19, 2012

Resources of the Committee

The College shall provide appropriate staff support, as requested by the members of the Committee, to the Committee's work. The Committee may retain the services of outside Counsel or consultants that it considers necessary or appropriate in carrying out its responsibility, at the College’s cost. The Assistant VP of Compensation and Benefits will obtain authorization and funding approval from the Vice President of Administration and Finance if the Committee decides to retain the services of outside counsel or consultants.

 

Fee Disclosures

In accordance with federal fee disclosure reporting requirements, the document linked below, related to the Emerson College Matching Retirement Plan (Summary of Plan Services and Costs and the Investment Options Comparison Chart) is provided for newly hired employees to the College.

2016 Fee Disclosures

 

Transition To Transamerica Information

Presentations Regarding the Transition to Transamerica:

Emerson 403(b) Overview

Marsh 403(b) Overview

Transamerica 403(b) Overview

Communications Regarding Transition to Transamerica:

Change to Investment Fund Offerings and Administrative Service Provider for 403(b) Retirement Plan (email 3-24-17)

Updated Timeline for Transition to Transamerica (email 4-28-17)

 

Summary Annual Report

This is a summary of the annual report for the Emerson College Tax Deferred Annuity Plan, EIN 04-1286950, Plan 001, for period January 1, 2018 through December 31, 2018. The annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement Income Security Act of1974 (ERISA).

Basic Financial Statement
Benefits under the plan are provided through insurance and through a trust fund. Plan expenses were
$7,179,087. These expenses included $443,970 in administrative expenses and $6,735,117 in benefits paid to participants and beneficiaries. A total of 2,624 persons were participants in or beneficiaries of the plan at the end of the plan year.

The value of plan assets, after subtracting liabilities of the plan, was $152,035,394 as of December 31, 2018, compared to $156,296,107 as of January 1, 2018. During the plan year, the plan experienced a decrease in its net assets of ($4,260,713). This decrease includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of the plan's assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total income of $2,818,298, including employer contributions of $5,019,856, employee contributions of $4,602,446, other contributions of $411,586 and earnings from investments of ($7,201,290).

Your Rights to Additional Information
You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report.

 An accountant's report
 Financial information and information on payments to service providers
 Assets held for investment
 Insurance information, including sales commissions paid by insurance carriers
 Information regarding any common or collective trusts, pooled separate accounts, master trusts or 103-
12 investment entities in which the plan participates

To obtain a copy of the full annual report, or any part thereof, write or call the office of Emerson College, 120 Boylston St, Boston, MA, 02116-4611, 617-824-8580.

You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report.
You also have the legally protected right to examine the annual report at the main office of the plan, 120
Boylston St, Boston, MA, 02116-4611 and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, N1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, DC 20210.

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