Eligibility

Any employee, regardless of age, length of service, or benefits FTE, may enroll in the Supplemental Retirement Plan (SRA).

Effective Date of Participation

Participation is effective the first of the month following submission of a Tax-sheltered Annuity Program Salary Reduction Agreement form and completion of account application forms.

Contributions to the Plan

SRA contributions are withheld each pay period as a percent of compensation or a flat dollar amount ($200 annual minimum) up to the Internal Revenue Service's maximum allowance. Contributions made to the SRA Plan are withheld on a voluntary basis and are made on a tax-deferred basis, thus reducing federal and state income tax.

Contribution Allocation

Employees may allocate contributions among or between TIAA-CREF and Fidelity Investments in any whole- number percentage, including full allocation to any option. Once participation begins, allocation changes of future premiums may be made at any time by contacting the respective investment company.

Investment Alternatives

Participants may invest contributions with TIAA-CREF or Fidelity Investments. Both retirement plan investment companies are committed to offering a wide range of investment options while providing the educational resources to help plan for a successful retirement. Participants may invest retirement plan contributions among the following categories.

• Money Market
• Stocks (Equities)
• Bonds (Fixed Income)
• Guaranteed Annuity
• Lifecycle Funds

Transfer of Funds

SRA Retirement Plan funds may be transferred among or between TIAA-CREF and Fidelity Investments at any time.

Rollover of Funds

Employees may rollover funds from another employer's retirement plan to the university's SRA Retirement Plan only if the original retirement plan in which the funds were contributed provided for the rollover of funds.

Access to Funds

SRA Retirement Plan funds may be accessed subject to certain IRS guidelines and restrictions. SRA funds received are taxable and in some cases, a 10 percent excise tax will be assessed. Additional information is available from the Campus Benefits Office.