Defined Contribution Plan (TIAA)
Eligible support staff members hired on July 1, 2014 and after may participate after one year of employment. If you have been a member of a University-sponsored retirement plan or TIAA for at least one year, the waiting period may be waived (documentation within 60 days of hire date required). The University contributes 7% of annual salary to this plan.
Indiana Public Retirement System (INPRS)Support staff members in eligible positions hired on or before June 30, 2014 participate in the Indiana Public Retirement System. Certain rehires may be defaulted in to this plan. The University contributes 11.2% of the employee's gross earnings towards a pension and 3% towards an annuity savings account, for a total contribution of 14.2% into the Indiana Public Retirement System.
Access the听听for detailed information regarding benefits, beneficiaries, vesting, newsletters, account management, benefit calculator and forms. The听听brochure is also a great resource.
Defined Contribution Plan (TIAA)听
Eligible faculty and administrators may participate after one year of employment. If you have been a member of a University-sponsored retirement plan or TIAA for at least one year, the waiting period may be waived (documentation within 60 days of hire date required). The University contributes 11% of annual appointment salary to this plan.
Supplemental Retirement Plan听
All full-time and part-time employees are eligible to enroll in this plan except for student workers and non-resident aliens. This plan is used to defer your income on a pre-tax or post tax (Roth) basis for retirement savings purposes. To enroll, complete the听Voluntary Salary Deferral Form听and submit it to Human Resources. You will then need to听set up an account online听with TIAA. There is no waiting period.听
Remember to keep your听beneficiaries听up to date at TIAA.听
A system administered by the federal government through the Social Security Administration providing old age, survivor's disability and retirement benefits. The cost is shared by the University and the employee. Effective January 1, 2024: 6.2% of salary up to $168,600 for old age, survivor's, and disability insurance, and 1.45% of all covered wages for Medicare hospital insurance.
Employees are strongly encouraged to request a听听Statement (PEBES). The PEBES is a statement of a person's lifetime earnings and an estimate of future benefits. There is no cost to secure this statement and you do not need to be approaching retirement age; any individual who has paid any social security taxes during his/her working career may request a statement at any time.听
TIAA holds monthly webinars through its interactive site called the Virtual Environment:听. This innovative resource offers users 24/7 access to a wide range of articles,听on-demand seminars, and听live monthly seminars听on a variety of essential financial topics.
To schedule an appointment with a TIAA representative, call 800-732-8353 or visit听.
TIAA Representative:
Michael Dooley
Next onsite meetings:
- Aug 15
- Sept 26
- Oct 24
- Nov 14
- Dec 19
PERF is currently conducting phone appointments and in-person appointments at select locations.听 These can be scheduled online at:听 or you may call the Member Advocate Number at 844-GO-INPRS (844-464-6777) to set up an appointment.听 You may tell them that you want to set up an 1 to 1 Retirement Counseling appointment with Michael Rust in the Southwest Region.
If you are wanting to submit your Retirement Application, you will need the following information.
- 听 For Survivor or Beneficiaries: Name, address, phone number, social security number, and birth date (email optional)
- 听 Federal tax withholding percentage
- 听 For Rollover: name of organization the rollover check needs to be made to
- 听 Bank Information: Routing number and account number (or bring a check)
By registering, members will receive their own retirement benefit estimate in the mail.听 It鈥檚 very helpful to have this estimate with available for the session.听
INPRS Representative:
Michael Rust
Each Spring the University hosts Retirement Workshops. The University invites the Social Security Administration, State Health Insurance Assistance Program (SHIP), TIAA, PERF and more to give workshops to help educate employees about their retirement options. As the event nears, check out the webpage for the event.听听
Visit and choose enroll now and then click on the plan in which you want to enroll and click begin enrollment, then follow the prompts. You will need the access code listed below.听
Employer Contributions
- 缅北强奸 Defined Contribution Retirement Plan for Faculty and Administrators听
- Access Code is 150771
- 缅北强奸 Defined Contribution Retirement Plan for Support Staff听
- Access Code is 406555
Employee Contributions:
- 缅北强奸 Tax-Deferred Annuity 403(b) Plan for all employees
- Access Code is 150772
- 缅北强奸 Deferred Compensation 457(b) Plan for all employees
- Access Code is 150774
TIAA provides monthly education, this months flyers are posted below:
The Internal Revenue Service dollar limitations for pension plans and other retirement-related items are shown below.
| Retirement Plans | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
| Elective Deferrals听 401(k)/403(b) - 402(g)(1) |
23,000 | 22,500 | 20,500 | 19,500 | 19,500 | 19,000 | 18,500 | 18,000 |
| Catch-up Contributions 414(v)(2)(B)(i) |
7,500 | 7,500 | 6,500 | 6,500 | 6,500 | 6,000 | 6,000 | 6,000 |
| 457 Elective Deferrals 457(e)(15) |
23,000 | 22,500 | 20,500 | 19,500 | 19,500 | 19,000 | 18,500 | 18,000 |
| Defined Contribution Limits 415(c)(1)(A) |
69,000 | 66,000 | 61,000 | 58,000 | 57,000 | 56,000 | 55,000 | 54,000 |
| Social Security听 Taxable Wage Base |
168,600 | 160,200 | 147,000 | 142,800 | 137,700 | 132,900 | 128,700 | 127,200 |