223 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.
Depending on the plan you pick, quite generous (PERS 2)
$10k per year match is great.
The university matches 100% at different percentages depending on your age. Other than that there is no equity available.
There are several plans to choose from including the state ones, and a university only plan that is actually really good that matches dollar for dollar at 7.5%. It is mandatory though which can have a huge impact on take home pay
Dollar to Dollar match up to 5, 7.5, or 10 percent depending on your age
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.