401(a) Defined Contribution Plan
Mandatory for all benefits-eligible employees
Benefits-eligible employees are required to contribute six percent (6%) of their gross pay into a 401(a) Defined Contribution Plan which will be matched by an additional six percent (6%) provided by the University. Both the employee and employer contributions are fully vested and available to the employee should employment with WVU be discontinued. Participation is required by West Virginia State law and begins with the employee’s first paycheck. Loans are available from your contributions to your account through your selected account vendor.
Employees may choose between two available vendors, TIAA or Empower Retirement. Employees determine their investment allocation(s) among the many accounts available and maintain control through allocation changes and transfer options within the vendors’ systems.
Retirement Vendor Contacts:
TIAA Retirement: Enroll Here! or call 1.800.842.2776
Schedule a one-on-one consultation.
Empower Retirement: 1.800.701.8255 (toll free) or www.empower-retirement.com
Empower Retirement 401(a) Enrollment Form must have a 401(a) Vendor Selection Authorization
West Virginia State Teacher’s Retirement System:
The University also has a grandfathered retirement plan called the WV State Teachers Retirement System (TRS) that was closed to new enrollees in higher education by the state in 1991. State Teachers may be contacted at 800-654-4406.