TIAA-CREF Retirement Annuity Plan
All eligible employees who are not in an excluded category may participate in the FCDS Retirement (Internal Revenue Code Section 403(b)) Plan with Teachers Insurance Annuity Association (TIAA)-College Retirement Equities Fund (CREF). Eligibility for participation may include elective deferrals (unmatched) or matching contributions.
Matching Contributions
Employees who are not in an excluded category are eligible for matching contributions once they complete one Year of Service (as defined by the Plan Document (Plan) and summarized in the Summary Plan Description (SPD) available through Human Resources and on the school’s website) at 1,000 hours or more, as measured in accordance with the Plan. Excluded categories of employees for match purposes are outlined in the Plan and SPD, but include students, independent contractors, preschool assistant teachers, after-school employees, bus drivers, seasonal, temporary and per-diem employees, Johnson Academic Center Tutors paid by the hour/session, bookstore employees and receptionists paid by the hour, and coaches. Consult the SPD or contact Human Resources if you are not sure if this affects you. FCDS will match the voluntary contributions of eligible, non-excluded employees who have met the Year of Service requirement, based on the salary specified in the current employment agreement for up to 6%. This is not intended to be a complete summary of plan provisions and to the extent they differ from the Plan, the Plan provisions will be followed.
Elective Deferrals
FCDS offers elective deferrals that are unmatched to the Plan (Internal Revenue Code Section 403(b)) on a voluntary basis from the date of hire to employees who are not in an excluded category through TIAA-CREF. Excluded categories include employees who normally work less than 20 hours a week that have not completed a Year of Service as defined by the Plan, students and non-resident aliens. Employees are advised to read the SPD for specific eligibility details.
FCDS also allows employee participation in other 403(b) plans. Details are available from Human Resources upon request.
*See plan document for specific details.
Forsyth Country Day School (FCDS) is a private, college preparatory, independent school for preschool through high school located in Lewisville, NC, just outside of Winston-Salem. Students benefit from a challenging academic curriculum, fine and performing arts, competitive athletics, and a wide selection of extracurricular activities.
Non-Discrimination Policy: Forsyth Country Day School is committed to administering all education and employment activities without discrimination based on one’s race, color, religion, national or ethnic origin, age, ability, gender identity, or sexual orientation.
Non-Discrimination Policy: Forsyth Country Day School is committed to administering all education and employment activities without discrimination based on one’s race, color, religion, national or ethnic origin, age, ability, gender identity, or sexual orientation.
