Supplemental Retirement Fund Options
Supplemental retirement funds are optional programs offered to all WWU employees and are a great way to bolster resources to help plan for the retirement you want! WWU employees are able to enroll in one or both supplemental retirement fund options regardless of retirement plan selection.
WWU currently offers the Department of Retirement Systems (DRS) Deferred Compensation Program (DCP) and Fidelity's Voluntary Investment Program (VIP) as supplemental retirement funds. Both of these plans are employee contribution only. It typically takes 1-2 pay periods to start, stop, or make changes to contribution rates for these plans.
The annual contribution limits for these plans are set by the IRS depending on investor age. You may participate in both supplemental retirement funds at the same time.
| Tax Year | Under Age 50 | Over Age 50 |
|---|---|---|
| 2023 | $22,500 | $30,000 |
| 2024 | $23,000 | $30,500 |
Retirement Resources
Deferred Compensation Program (DCP)
The DCP is a 457 plan administered by Washington State Department of Retirement Systems. You can start a deduction directly from your paycheck either as a flat amount or as a percentage of your gross wages. The DCP offers both a tax-deferred and Roth contribution option, and you are allowed to have both with the DCP plan.
To sign up for this plan you can enroll directly on the DCP website.
Additional Resources
Voluntary Investment Program (VIP)
The VIP is administered by Fidelity Investments and is a 403(b) plan. You can make deductions directly from your paycheck as a flat amount or as a percentage of your gross wages. VIP offers both a tax-deferred or Roth contribution option, and you may select one or both options. Fidelity offers employees the option to put their investment funds into a Fidelity or TIAA account.
To sign up for this plan, please email your request alongside your Western ID number to HR.Benefits@wwu.edu. The Benefits department will create your shell account and share instructions on how to set up your contribution amount.