RETIREMENT INCOME-403(b)
The 457(b) Voluntary Retirement Program is an additional plan to enhance retirement savings, and is administered through TIAA.
All University employees, with the exception of student workers, are eligible to participate.
There is no University match on contributions. Before contributing to the 457(b) Deferred Compensation Plan, employees are encouraged to first maximize their contributions through the 91原创 403(b) Retirement Saving Plan. Vesting is immediate.
Plan Administrator: | 91原创 through .听 |
Eligibility: | All University employees, with the exception of student workers. |
University Contributions | There is no University match on contributions. Before contributing to the 457(b) Deferred Compensation Plan, employees are encouraged to first maximize their contributions through the 91原创 403(b) Retirement Saving Plan. |
Vesting | Employees are immediately vested upon hire. |
Enrollment | Employees must enroll and choose their salary contribution level through . This plan is not subject to an open enrollment period. Employees may enroll and change elections at any point in the year. Enrollment is not automatic. |
Limitations: 听 | The contribution limit for the University鈥檚 457(b) Retirement Savings Plan has increased to $23,000 for the 2024 calendar year. This limit increases to $30,500听if you are age 50 or over by the end of the 2024听calendar year. To review or increase your contribution amount, log into your 457(b) Retirement Account by visiting . Once in your account, select 'actions', 'contributions', and continue through the prompts. 听For additional information about limits, visit the website. |
TIAA can help you get started with online retirement planning tools, one-on-one virtual or on-campus meetings with a plan representative and customer service call centers. Schedule an appointment by calling 800-842-2252 or visit the to schedule a meeting, or to access webinars and online resources.
Loans, Retirement or Divorce (QDRO): Please contact TIAA for additional information.听
TIAA Contact Information:
(91原创 CAS)
Phone: 800-842-2776
Legacy Accounts:听
Fidelity Investments Contact Information:
Phone: 800-343-0860
No matter where you are in life鈥攋ust getting started or planning for retirement鈥攁 session with a TIAA Financial consultant can help you create a plan for your goals. And, it鈥檚 at no additional cost as a part of your retirement plan. You鈥檒l get answers to these questions and more:
Am I invested in the right mix of investments to help meet my goals?
Am I saving enough to create the retirement income I need?
How do I take income from my retirement account once I stop working?
RSVP today, as space is limited. Register for sessions at or by calling 800-732-8353, weekdays, 8 a.m. to 8 p.m. (ET). We look forward to working with you.
How do I enroll in the 457(b)?
听457(b) Enrollment Instructions
听
How do I change contribution percentages or investment options?
All contribution and investment option changes are made on the TIAA website:听.
听
How do I update my beneficiaries for my 457(b)? 听
All beneficiary information is retained by TIAA for the 403(b) and 457(b). Please visit the TIAA website to update your beneficiary information:听.
听
How do I change my personal information for the 457(b)?
For address change, marital status change:
- Log in to TIAA site:听听
- Click on Actions, and Update Your Profile听
- Click on Personal Information, and Edit
For name change:
- Log in to TIAA site:听听
- Click on the search icon
- Select Name Change
- Instructions will be displayed for the participant to complete all of the details of their name change.
Plan Administrator: | 91原创 through .听 |
Eligibility: | All University employees, with the exception of student workers. |
University Contributions | There is no University match on contributions. Before contributing to the 457(b) Deferred Compensation Plan, employees are encouraged to first maximize their contributions through the 91原创 403(b) Retirement Saving Plan. |
Vesting | Employees are immediately vested upon hire. |
Enrollment | Employees must enroll and choose their salary contribution level through . This plan is not subject to an open enrollment period. Employees may enroll and change elections at any point in the year. Enrollment is not automatic. |
Limitations: 听 | The contribution limit for the University鈥檚 457(b) Retirement Savings Plan has increased to $23,000 for the 2024 calendar year. This limit increases to $30,500听if you are age 50 or over by the end of the 2024听calendar year. To review or increase your contribution amount, log into your 457(b) Retirement Account by visiting . Once in your account, select 'actions', 'contributions', and continue through the prompts. 听For additional information about limits, visit the website. |
TIAA can help you get started with online retirement planning tools, one-on-one virtual or on-campus meetings with a plan representative and customer service call centers. Schedule an appointment by calling 800-842-2252 or visit the to schedule a meeting, or to access webinars and online resources.
Loans, Retirement or Divorce (QDRO): Please contact TIAA for additional information.听
TIAA Contact Information:
(91原创 CAS)
Phone: 800-842-2776
Legacy Accounts:听
Fidelity Investments Contact Information:
Phone: 800-343-0860
No matter where you are in life鈥攋ust getting started or planning for retirement鈥攁 session with a TIAA Financial consultant can help you create a plan for your goals. And, it鈥檚 at no additional cost as a part of your retirement plan. You鈥檒l get answers to these questions and more:
Am I invested in the right mix of investments to help meet my goals?
Am I saving enough to create the retirement income I need?
How do I take income from my retirement account once I stop working?
RSVP today, as space is limited. Register for sessions at or by calling 800-732-8353, weekdays, 8 a.m. to 8 p.m. (ET). We look forward to working with you.
How do I enroll in the 457(b)?
听457(b) Enrollment Instructions
听
How do I change contribution percentages or investment options?
All contribution and investment option changes are made on the TIAA website:听.
听
How do I update my beneficiaries for my 457(b)? 听
All beneficiary information is retained by TIAA for the 403(b) and 457(b). Please visit the TIAA website to update your beneficiary information:听.
听
How do I change my personal information for the 457(b)?
For address change, marital status change:
- Log in to TIAA site:听听
- Click on Actions, and Update Your Profile听
- Click on Personal Information, and Edit
For name change:
- Log in to TIAA site:听听
- Click on the search icon
- Select Name Change
- Instructions will be displayed for the participant to complete all of the details of their name change.
The Roth contribution option: Another way to save for retirement
In the 91原创 403(b) Retirement Savings Plan, your pretax contributions accumulate tax deferred, and withdrawals are taxable.1 With the 鈥渄esignated Roth鈥 option, your after-tax, Roth contributions also accumulate tax deferred, but may be taken tax free in a qualified distribution.
A qualified distribution is one that occurs at least five years after the year of your first Roth contribution and is made either on or after attainment of age 59陆, on account of disability, or on or after death. These potentially significant tax benefits are similar to a Roth IRA. However, Roth contributions have higher contribution limits than a Roth IRA. Read more.
1 Distributions from 403(b) plans before age 59陆, severance from employment, death, or disability may be prohibited, limited, and/or subject to substantial tax penalties. Different restrictions may apply to other types of plans.
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