All BWL employees are eligible for both a 401a Defined Contribution and 457b Deferred Compensation plan. These two standard plans are offered to all employees, and contribute a mix of BWL and employee paid benefits to help prepare employees for retirement.
The BWL 401a Defined Contribution plan is 100 percent employer paid. The 457b Deferred Compensation plan allows for employees to contribute to their retirement and contains an employer match provision up to a specified dollar amount. The BWL retirement savings program also allows for employees to set up an employee contributed Roth IRA account with the ability for payroll deduction to this account.
The 401a plan is on a 6 year vesting schedule, while the 457b plan is immediately vested. All vested retirement contributions are transferable upon separation from the BWL.