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Employee Benefits

Retirement Plan (TIAA-CREF)

After two years of employment, full-time employees are eligible to participate in the TIAA/CREF Group Retirement Pension Plan. In order to enroll, the employee must match (before taxes) the College contribution of 5%, but no higher. Regular part-time employees who work a minimum of 1,000 hours per calendar year are eligible to enroll. For employees who had an employer sponsored retirement plan and/or comparable investment account from an institution of higher learning, the waiting period is waived.
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 change your address or your beneficiaries, make allocation changes, or transfer money between the TIAA and CREF accounts please contact TIAA-CREF at tiaa-cref.org You must request a pin number so that you can review (secure access) information on the website. TIAA must mail your pin number to your current address and you will the be able to personalize it via the internet. For more information on your pin number, please call TIAA-CREF at 1-800-842-2733.

All employees hired or re-hired after September 30, 2009 will be automatically enrolled in the Retirement Annuity plan upon eligibility.  Employees may opt-out of the plan once they are automatically enrolled, or change their allocations from the default accounts by completing the appropriate paperwork in the Office for Human Resources.

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.

Iona College Basic Plan Document
Iona College RA Summary Plan Description
Iona College SRA Summary Plan Description

For questions or suggestions please contact Rosemary Bartolomeo, x2049.