Retirement Income Plan

Introduction

The Williams College Retirement Income Plan (the “Plan”) is a “defined contribution” pension plan. A percentage of the participant’s salary (the defined contribution) is put in an account designated for retirement income purposes. These contributions earn investment returns (see “Investment Options” immediately below). The total amount of accumulated contributions and earnings during the course of the participant’s career largely determine the size of the participant’s pension income. This summary is effective beginning July 1, 2007 for participant’s employed on or after that date. All other participants should consult prior versions of this document.

Retirement Income Plan Administration

Williams College is the Plan sponsor for the college Retirement Income Plan and The Vice President for Finance & Administration and Treasurer at Williams College is the Plan representative for Williams College.

Service of legal process may be made upon the Plan representative.

A major responsibility of the Plan representative is to make sure that Plan provisions are applied properly and equitably. If a participant feels that he or she has been treated unfairly or denied benefits improperly, the participant is encouraged to seek a review by the representative by filing a written claim with the Benefits Office. Any determination by the representative concerning the college Retirement Income Plan shall be final and conclusive on all persons, in the absence of clear and convincing evidence that the representative acted arbitrarily or capriciously. Decisions by the representative are subject to review by the President to insure that the representative did not act arbitrarily and capriciously.

Plan Records and Plan Year

Plan records are kept on file in the Benefits Office and are kept on a calendar year basis.

Plan Identification Numbers

Employer Identification Number: 04-2104847
Plan Number: 001

Plan Documents

This summary plan description describes only major features of the college Retirement Income Plan. In the event of any inconsistency between this summary plan description and other plan documents (including individual annuity contracts or certificates and TIAA-CREF booklets) those other Plan documents will govern. For more information about the college Retirement Income Plan, contact the Benefits Office.

Retirement Amendment and Termination of Program

While it is expected that College Retirement Income Plan will continue indefinitely, the college reserves the right to modify or discontinue the Plan at any time. Any amendment or termination of the Plan will not adversely affect any benefit provided by the Plan that is owed prior to such amendment or termination. The College will exercise good faith, apply standards of uniform application, and refrain from arbitrary action.

Because the college Retirement Income Plan is a defined contribution plan, it is not insured by the Pension Benefit Guaranty Corporation, the government agency that insures some types of pension benefits.