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Retirement Plan (TIAA)

After two years of employment, full-time employees are eligible to participate in the Iona College 403(b) Defined Contribution Retirement Plan, with TIAA.

To enroll, eligible employees must contribute a minimum of 5 percent (pre-tax) in order to receive the College's 5 percent contribution. Participants may defer up to the calendar year IRS maximums, currently $18,000 for employees under age 50 and $24,000 for employees age 50 or higher as of December 31, 2017. Regular part-time employees who work a minimum of 1,000 hours per calendar year are also eligible to enroll. Employees who have previously worked at an institution of higher learning, the waiting period may be waived. Please contact the Office of Human Resources for more information.

Years of Service College Contribution
Two (2) to seven (7) completed years of full-time service 5.0%
   
After seven (7) years of full-time service
7.5%
   
After eleven (11) years of full time service  10.0%


If you wish to update your home address or beneficiaries, make allocation changes, transfer money between your Iona College TIAA accounts, or request Rollover or Loan paperwork, please visit the TIAA website or contact TIAA directly at (800) 842-2733.

Supplementary Retirement Annuity Plan (SRA)

Employees not meeting the time requirement for the RA plan may enroll in the SRA account. The College does not contribute to this plan.

The above plans are 403 (b) tax-sheltered plans and are required to be filed with the Internal Revenue Service.

The Human Resources Department offers further information on RA and SRA accounts.

For questions or suggestions please contact Sara Leupp, x2049.