Benefits Summaries & Orientation


Grand Valley State University
Defined Benefit
Maintenance, Grounds and Service
Eligibility: MGS staff members hired prior to 10/08/2004 are members of the Defined Benefit Retirement Plan (Plan A). The Maintenance, Grounds and Service Staff Defined Benefit Retirement Plan is funded by the University.
Vesting: Participants are vested 100% upon completed of ten years of vesting service.
Get the Summary Plan Description. This document provides further details of the Base Retirement Plan and an example of how benefits are calculated.


Grand Valley State University
Defined Contribution
Maintenance, Grounds and Service

Eligibility: MGS Staff members hired after (October 8, 2004) will become members of the Defined Contribution Plan. 

Participation and Vesting:Eligible Maintenance, Grounds and Service Staff hired after October 8, 2004 will begin participation in the retirement plan upon employment with the University. Participants are vested 100% upon completion of two calendar years of employment. The University contributes an amount equal to 8% (effective October 8 , 2004) of a participant's base salary.  Contributions are made to the investment options of the participants choice on a bi-weekly basis. Participants may choose the retirement planning option that they feel best matches their goals. Participants may direct all or part of their retirement contributions into any combination of the following alternatives:

University Contribution:

1. Teachers Insurance and Annuity Association (TIAA) and /or College Retirement Equities Fund (CREF)
2. Fidelity Investments

Participants must inform Human Resources of their choice of allocation for the University contribution between TIAA/CREF and Fidelity Investments. Changes to this allocation may be made at any time during the year by completing the Allocation of University Retirement Contributions/Waiver of 2-year Vesting Period Form available in Human Resources or online.

Changing The Allocation of Funds Within The Investment Firm:Participants may change their allocation of the funds selected within TIAA-CREF or Fidelity Investments as frequently as permitted by that company by contacting the company directly. TIAA-CREF may be contacted at 1-800-842-2733 and Fidelity Investments may be contacted at 1-800-343-0860. Human Resources does not need to be informed of these changes.

Tax Free-Fund Transfer:The University will allow a participant to transfer any portion of their accumulated retirement fund to another approved retirement fund to the extent permitted by law and the companies involved.

Retirement Benefits:Upon retirement at any age, death or total disability, a participant will be entitled to receive monthly or periodic income in accordance with the payment options available by the investment company, subject to any legal requirements. There will be no requirement to select an annuity payment option.

Availability of Withdrawals:

The University will permit retirement plan withdrawals on/after age 59 1/2 for current faculty and staff. Withdrawals, transfers and rollovers are also available to those who retire or terminate employment. Borrowing from the base retirement plan (University contributions) is not permitted.

Investment and Retirement Counseling:

This retirement plan will require an increased level of personal planning and counseling. The University has made arrangements to make these services available. Each participant should meet with an approved retirement counselor prior to retirement from the University and preferably no later than age 60. Retirement counselors from TIAA-CREF and Fidelity are on campus semi-annually and are available for personal appointments.

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