Retirement Plans Available

  • EWSD provides the following retirement plan options to eligible employees:

    • 403(b) Plan (Tax Sheltered Annuity)
    • 457(b) Plan
    • Vermont State Teachers Retirement System (VSTRS) - available to licensed educators and administrators performing duties under their license
    • Vermont Municipal Employee Retirement System (VMERS) - available to grand-parented employees only

     

Vermont State Teachers Retirement System (VSTRS)

  • All licensed educators working in a capacity that requires an educator license and endorsement must contribute to VSTRS as a Group C participant.  As group C participants, members must make a contribution of 5.0% of covered earnings into the plan.  Those teachers who have less than five (5) years of service in VSTRS as of 7/1/14 must make a contribution of 6%.  This rate is subject to change.  Earnings on the trust fund investments provide a portion of your benefit, along with the State of Vermont's contribution.

    For more information about VSTRS, please visit the VT State Treasurer's Office VSTRS webpage.  A copy of the Group C Plan Document can be found here.


     

Vermont Municipal Employee Retirement System (VMERS)

  • Support staff previously participating in VMERS with the Westford School District as of 6/30/17 who work a minimum of 1040 hours/year must contribute to VMERS Defined Contribution Plan as a Group B participant. Participation in this plan is in lieu of receiving the District base and matching contributions in the 403(b) Plan.

    The employee contribution in this plan is 4.875% of wages as of 7/1/17.  This rate is subject to change.  The District also contributes an amount equal to 5.5% of the employees wages into the Plan.  This District contribution rate will increase as follows:

    • Effective 7/1/18 District contribution increases to 5.625%
    • Effective 7/1/19 District contribution increases to 5.75%
    • Effective 7/1/20 District contribution increases to 6.0%
    • Effective 7/1/21 District contribution increases to 6.25%

    For more information about VMERS, please visit the VT State Treasurer's Office VMERS webpage.  A copy of the Group Plan Document can be found here.