730 Third Ave
New York, NY 10017


TIAA (Teachers Insurance and Annuity Association) is a 403(b) defined contribution plan.  Contributions made are tax-deferred so potential earnings won't be taxable until you withdraw them in retirement.

You choose your investment strategy.  You select a lifecycle fund or build your own portfolio from among the plan's investment options.  For your specific investment options go to

The employee is 100% vested upon enrollment.

All full-time employees are eligible to elect this retirement plan upon hire.

NOTE:  The election of a retirement plan is a one-time, irrevocable decision for the length of employment at NWACC.

Contribution Rates

  • Contributory Plan:  The employee contribution rate is four percent (4%) of gross earnings.  The college contribution rate is ten percent (10%) of the employee's gross earnings.
  • Non-Contributory Plan:  The employee does not contribute to the plan.  The college contribution rate is six percent (6%) of the employee's gross earnings.

Elective Deferrals

  • TIAA pre-tax elective deferrals provide tax-deferred savings and let you put away more for retirement beyond your basic retirement plan. 
  • All full time employees are eligible for elective deferrals regardless of basic retirement plan election.  Part time employees may be eligible.
  • Contributions are voluntary amounts you make on your own.

ROTH 403(b)

  • The Roth 403(b) provides you with an option to make contributions to your retirement plan on an after tax basis.
  • Through the Roth 403(b) option you make contributions that are taxed based on your current tax rates so you make tax free withdrawals later in retirement.  This option may benefit you if you expect your tax rate to be the same or higher in retirement.


  • The Internal Revenue Code limits the total amount you can contribute.  The combined amount contributed to all designated Roth accounts and traditional pre-tax accounts in any one year for an individual is limited under the IRC Section 402(g).  The limit is $18,000 in 2016.  You may be able to contribute more if you are 50 or older or if you have 15 years of service.  Please consult with TIAA or your tax or financial advisor for further information on contribution limits.


  • Dedicated retirement plan website:
  • Call TIAA at 1-800-842-2252.  Consultants are available weekdays, 8am - 10pm and Saturday 9am - 6pm. 
  • Contact your Benefits Coordinator


Salary Reduction Agreement