DESCRIPTION:

TIAA-CREF (Teachers Insurance and Annuity Association-College Retirement Equities Fund) is a 403(b) voluntary tax sheltered annuity plan.  Employee is eligible to participate in a Supplemental Retirement Plan (SRA) and put money aside on a pre-tax basis for retirement as a supplement to the employee’s regular retirement plan.

ELIGIBILITY / ENROLLMENT:

All full-time employees are eligible to elect the supplemental retirement annuity.  An enrollment form and a salary reduction agreement must be completed and returned to your Benefit Coordinator for processing.  An enrollment instructions can be obtained from your Benefits Coordinator in Human Resources.

CONTRIBUTION RATES :

The employee may contribute an amount of choice up to IRS limitations.  During 2012, contribution limit is $17,000; if 50 years of age or older, the contribution limit is $22,500.  Please consult with TIAA-CREF or your tax or financial advisor for further information on contribution limits.

KEY POINTS :

• Employee can elect to begin, change the amount contributed or stop participation at anytime.
• TIAA-CREF offers variable annuity accounts to include CREF Stock, Global Equities, Growth, Equity Index, Real Estate, Bond Market, Inflation-Linked Bond, Money Market and Social Choice. 
• TIAA-CREF offers a Guaranteed Annuity Account.
• Employee will be provided with a prospectus containing investment objectives, risks, and other important information.
• Contributions may be allocated (in whole number percentages) in any manner.

QUESTIONS/CONTACT INFORMATION:

For questions about this retirement plan, contact your Benefits Coordinator, visit the TIAA-CREF website at www.tiaa-cref.org or contact TIAA-CREF at 1-800-842-2776 and speak with a consultant. 

FORMS:

Salary Reduction Agreement