Woods Services offers employees the opportunity to invest in a 403(b) plan to prepare for retirement. 

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What is a 403(b)?

A retirement savings plan for nonprofit employees, funded through pre-tax payroll deductions (either a percentage of pay or a set amount each pay period). Woods Services employees are automatically enrolled at a 3% contribution of bi-weekly pay, which can be adjusted at any time through the 403(b) provider, Principal. 

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Employer Contributions

Effective the first of the month following one year of full-time employment, Woods will being contributing to your retirement plan:

• Employer Contribution: Woods contributes 2% of your gross pay, even if you do not contribute to the plan

• Employer Match: Woods matches 50% of your contributions, up to 4% of your pay

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Example: If you contribute 4%, you will receive a total of 4% from Woods (2% employer contribution + 2% match)

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Click on any of the resources below for more information.