Retirement Investing Plans

TIAA-CREF: 1.800.842.2776

The University current offers two voluntary, tax sheltered retirement saving plans to employees: Defined Contribution Retirement Plan and Tax-Deferred Annuity Plan.  Both plans are funded through the Teachers Insurance and Annuity Association College Retirement Equities Fund. Employees select amongst a wide choice of investment options for both plans. 

The Defined Contribution Retirement Plan has a contribution from the University of 5% of an eligible employee's salary and requires a matching contribution from the employee of 5% on a pre-tax basis.  Both the University and employee contributions are immediately vested. The plan is offered to all full time eligible employees who attain age 25 after the completion of one (1) full year of service.  The waiting period is waived provided the employee has current ownership of an existing retirement account sponsored by a prior employer of one of the following:

• Issued by TIAA CREF
• If not issued by TIAA CREF, then issued in accordance with Code Sections 403(b) or 401(k)

The entire amount is tax sheltered and is 100% vested and may be left in the account, rolled over into other plans or be turned into cash upon termination and/or retirement from the University. This plan has a loan provision.

The Tax-Deferred Annuity Plan allows an employee to contribute additional pre-tax dollars up to IRS limits.  An employee may enroll in this plan at anytime after employment with the University begins.  There are no employer contributions into this plan and all employee contributions are immediately vested.

An individual who has terminated employment with the University, either through retirement or for other reasons, will be granted complete control of accumulated funds, including transfer to other plans or cash surrender. (Distribution of these funds are governed by the IRS. Inappropriate cash out of these funds could result in excess taxes and penalties. Please contact TIAA-CREF at 1.800.842.2776 for information the concerning withdrawal option for the Retirement and SRA funds.)

On-Campus Seminars and Counseling

Periodically, TIAA-CREF offers on-campus Financial Education seminars and one-on-one counseling to faculty and staff that are designed to help you learn the essential information you need to plan for your financial future.