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Defined Contribution Retirement Plan

Wake Forest Contributions

Faculty and Staff who work at least 1,000 hours per year for two (2) years without a break in service may be eligible to receive contributions from the Defined Contribution Plan provided they have attained age 21.

If you were previously employed at another higher educational institution or non-profit research organization for two (2) years (1,000 hours per year) immediately preceding employment at Wake Forest University, please complete the Prior Service Credit Form and submit it to Human Resources, so we can determine if you are immediately eligible for Wake Forest’s Defined Contributions.

Wake Forest University will contribute to Faculty and Staff retirement plans as follows:

  • 5% of regular salary for the 3-5 years of service
  • 7.5% of regular salary for the 6-10 years of service
  • 10% of regular salary beginning the 11 year of service and the remainder of employment at WFU

Qualified Default Investment Alternative Notice for Employer Contributions

Wake Forest offers 3 retirement providers to choose from.  You may choose only one provider for your Defined Contribution Retirement Plan, however, you may change providers at any time.

TIAA

Vanguard

Fidelity

Notifications

Withdrawals

Withdrawals from Wake Forest University contributions are permitted under the following circumstances:

  • Participant is at least age 62 with 10 years of service with Wake Forest
  • Participant is at least age 65 with 5 years of service with Wake Forest
  • Participant has either terminated or retired from the University

Retirement Counseling

Individual retirement planning consultations provide assistance for Faculty and Staff who are currently participating or interested in TIAA-CREF.  You may visit the Professional Development Center for dates and times.