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Participation Rates

Your Y's Agreement with the Fund

See how much to contribute
 

2015 Contribution Limits Calculator graphicContribution Limits Calculator
Determine the maximum amount your employees can contribute 

 

There are two key decisions that a Y Board makes in approving the terms of participation in the YMCA Retirement Fund:

  1. How much will the contribution rate be? — 12%, 11%, 10%, 9%, or 8%

  2. Will the Y require the participant to contribute a portion of that amount? 

Your Y selects one combination from the options outlined below:

12%

11%

10%

9%

8%

Y

Empl

Y

Empl

Y

Empl

Y

Empl

Y

Empl

12%

0%

11%

0%

10%

0%

9%

0%

8%

0%

11%

1%

10%

1%

9%

1%

8%

1%

7%

1%

10%

2%

9%

2%

8%

2%

7%

2%

6%

2%

9%

3%

8%

3%

7%

3%

6%

3%

5%

3%

8%

4%

7%

4%

 6%

4%

 

 

 

 

7%

5%

 

 

 

 

 

 

 

 

When the Employee Pays a Portion

When a Y requires participants to contribute, it is based on a percentage of their compensation. Contributions are made via regular payroll deduction on an after-tax basis

Employee's Contribution 5% of $1,000

$50

Y's Contribution 7% of $1,000

$70

Total Contribution 12% of $1,000

$120

 
When a Y Pays All

Based on the above example, the Y would pay the total 12% or $120 on behalf of the employee.

Changing the Contribution Rate

A Y can change its contributions only once each plan year (July 1 through June 30) unless the Y is electing to increase its contribution rate. The Resolution to Amend Participation form needs to be completed and sent to the Retirement Fund at least sixty (60) days in advance of the effective date of the change. The Fund's Customer Service can provide a copy of the form.

If a Y is lowering its contribution rate, it must notify its employees in writing at least forty-five (45) days in advance by first class mail or hand delivery. The same forty-five day notification is required if the Y wishes to make any change that would result in employees either starting or increasing the amount being withheld from their compensation. Contact the Fund's customer service department for sample notification letters. The Y is required to forward a copy of the notice to the Fund.

Discontinuing participation in the Fund

If a Y stops participating, its employees can no longer make retirement contributions to the Fund. Participating employees can withdraw their voluntary accounts, but they cannot withdraw their Personal Accounts or YMCA Accounts unless they terminate Y employment. If their Y decides to discontinue participation, the Fund will send participants a letter outlining their options.