403(b) Defined Contribution Plan
All full-time and part-time members of the faculty and administrative staff whose employment status includes fringe benefits and who have worked 1000 or more hours over 52 consecutive weeks must participate in the College retirement plan with Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA/CREF), unless you are excluded by your respective Collective Bargaining Agreement. Enrollment begins the first month following the completion of 1 full year of service (or if participant in qualifying 403(b) plan prior to working at Marist). Other employee groups are eligible for this benefit in accordance with their collective bargaining agreement.
|Years of Service||Employee||Employer|
403(b) Tax Deferred Annuity (TDA) Plan
Upon employment all employees may open a Supplemental Retirement Account (SRA) to which they contribute through salary reduction. This is a voluntary plan to which the College does not contribute. There is no waiting period for enrollment in an SRA. Rollovers can potentially be accepted from qualified plans. Applications are available in the Human Resources and Payroll Offices.
|Employee contributions to both retirement plans limited by IRS to $17,000 in 2012|
|Employees age 50+ may contribute an additional $5,500 to the Tax Deferred Annuity Plan|
The Office of Human Resources has responsibility for ensuring enrollment in the TIAA/CREF Retirement Plan. Enrollment materials and salary reduction agreements are available at the TIAA/CREF website.
Enrollment Instructions are available in myMarist.