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Chapter 115

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Retirement

The University of Washington Board of Regents established the University of Washington Retirement Plan (UWRP) as of September 1, 1939. The UWRP plan document sets forth the provisions of the plan, as periodically amended by the UW Board of Regents. This is a governmental plan as defined in Internal Revenue Code Section 414(d) and is intended to satisfy the provisions of Sections 403(b) and 401(a) of the Internal Revenue Code. The plan implements the provisions of RCW 28B.10.400 et seq. with respect to the University of Washington.

The plan contains two parts, which are:

• University of Washington Retirement Plan: The UWRP is a defined contribution plan under IRC Section 403(b) where the employee contribution and matching UW contribution are invested by the employee.
  
  
• University of Washington Supplemental Retirement Plan: The UWSRP is a defined benefit plan under IRC Section 401(a) where a defined or formula-driven benefit is calculated based on age and years of service.

AI, January 1998; May 11, 2009.