193 employees reported this benefit
Various retirement plans are available to UW employees, depending on job position.
This information about the Retirement Plan benefit at University of Washington is the result of research by Glassdoor editorial staff, and was not provided directly by a representative of University of Washington. The description here may not reflect the current University of Washington Retirement Plan benefit.
We have a Defined Benefit plan for most employees: 2% of salary per year of service, plus a 403(b) on top of that. These Defined Benefit pensions are as rare as the dodo bird, so we're very fortunate in the public sector. Indeed, in the private sector, it would take stock options or a massive IRA ($500k - $1 Mil) to duplicate our pension payout for yearly cash-flow in retirement.
The University of Washington matches contributions to the retirement plan up to X %. You can check the UW Benefits page to check the current value of X, maybe it is 7.5%.
Although the Retirement Plans are well managed and well matched, the monies are not available at all unless the employee quits.
Matching and can sign up for extra 401K like package (though no matching for extra savings)
Nice to have a pension and for those who have a high salary and higher disposable income, they have several retirement plans in addition to the pension.
Pretty good roth IRAs and 401ks available.
I'm not entirely sure about the full details of their retirement plan, but from my knowledge, the school does a great job of it.
UW matches your contribution at 5% when you start, 7.5% at 5 years, and 10% at 10 years.
Retirement plan works like a pension. Takes 5 years before you are vested and can receive benefits at retirement age
Great matching with other options too