Defined Contribution Information: MHC & ING
As our partner, ING provides both individual and group education to help you make informed decisions about your retirement investments.
Over the course of the past year, we have continued our review of the 403(b) plan. The result of this work is a series of enhancements to our plan design that streamline the administration of the plan and provide enhanced access to your retirement funds.
Click here for a summary of the changes to the 403(b) plan that became effective July 1, 2012.
Click here to go to the ING Website to view your account.
Please contact Human Resources if you are new to the ING website and need help.
Highlights of these changes are:
- Employee participation is required after 1 year of service.
- The required employee contribution will decrease.
- In-service withdrawal of employee contributions are available at age 59 1/2.
- Amounts rolled over into the Mount Holyoke College plan from other plans will be accessible for in-service withdrawal.
- Loans continue to be available; however these may now be drawn from ALL employee contributions, not just voluntary contributions. (Loans are only available from our current vendor, ING. Funds used for the purposes of a loan will need to be transferred to ING.)
In addition to the group information sessions, Mary Ellen Gordon is also available to meet one-on-one with you to discuss your individual situation. Whether you are a newcomer and just getting started or you are thinking about retirement, she can review your situation and provide advice at no additional cost. For her schedule and phone number please click here.