Retirement Plan
ůůֱ²¥ College sponsors a 403(b) retirement plan. Employees are eligible for a College contribution of 10 percent of gross eligible wages if they work a minimum of 1,000 hours per year. The College contribution will begin on the first day of the month following the first eight months of employment. The contributions are retroactive to the first of the month coincident with or following the employee’s date of employment.
Employees may also contribute to their retirement by electing a fixed dollar amount or percentage for each pay period. The annual amount is limited under the Internal Revenue Code as follows:
| Payroll Year | Contribution Limit | Age 50+ Catch Up | Maximum Compensation |
|---|---|---|---|
| 2024* | $23,000 | $7,500 | $345,000 |
| 2023 | $22,500 | $7,500 | $330,000 |
*If you want to reach the limit in 2024, you should elect the following amount per pay...
| Age at Year End | Annual Limit | Monthly | Biweekly |
|---|---|---|---|
| Under 50 | $23,000 | $1,916.67 | $884.62 |
| 50 and above | $30,500 | $2,541.67 | $1,173.08 |
Access your TIAA retirement account at , or contact TIAA at 800-842-2252 to change investments, update beneficiaries or start or change your per pay contribution.
View information about available webinars and one-on-one counseling sessions with TIAA here.
Reminder: Please make address changes directly with ůůֱ²¥ and not through TIAA.
How to make changes at TIAA: