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Retirement Plans

Exempt Retirement Plan

Professional staff and administrators from one of two vendors: the Teachers Insurance Annuity Association (TIAA) and Transamerica Retirement Solutions.  Contributions total 14% of salary and are shared by the University and employee according to a salary-based schedule.

Non-Exempt Retirement Plan

Two vendors also are available to non-exempt staff.  They are Teachers Insurance Annuity Association (TIAA) and Transamerica Retirement Solutions.  Contributions of 10% of earnings are made into the plan on an employee’s behalf by the University.

Eligibility

These plans provide for 100% immediate vesting.  Participation is mandatory and begins the first day of the plan year (June 1) following attainment of age 20 ½, six months of service, and 1,000 hours worked.  New eligible staff and administrators will be invited to attend a presentation by TIAA and Transamerica Retirement Solutions to assist in making a decision about initial participation.

Voluntary 403(b) Plan

A voluntary 403(b) program is available.  Enrollment materials and salary reduction agreement forms for Transamerica Retirement Solutions, and Teachers Insurance Annuity Association/College Retirement Equities Fund (TIAA) may be obtained through discussion with a member of the Office of Human Resources.

Retirement Plan related documents

Beneficiary Designation and Information Change Forms

Exempt Staff:(Administrators, Full-time Faculty and Professional) Para-professional included in this category for Retirement plan purposes.

Non-exempt Staff:

 

Customer Service

To receive customer service direct from Transamerica Retirement Solutions or Teachers Insurance Annuity Association/College Retirement Equities Fund (TIAA) use the following:

Transamerica Retirement Solutions

Teachers Insurance Annuity Association/College Retirement Equities Fund (TIAA)

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