PLAN FOR THE RETIREMENT THAT YOU DESERVE
Through our partnership with our retirement plan administrator, TIAA, the University provides a retirement benefit that is among the most generous of its peer organizations. Upon reaching your one-year anniversary, you will begin receiving a University contribution of 10% of your base salary toward your retirement, subject to University policy and the terms of the plan. If you are coming from another four-year institution, you may be eligible to waive your one-year waiting period. The waiver form and directions are available below.
Once eligible, the University’s contribution will default into a T. Rowe Price Lifecycle Fund that is administered by TIAA. The Lifecycle Funds are a group of mutual funds managed by T. Rowe Price based on your age and expected retirement date. The Lifecycle funds provide a one-step investing option for those who do not wish to actively manage their retirement account. Once enrolled, if you wish to actively manage your retirement account, there are many investment options from which you can select to build a diversified mix that’s right for you.
The University also makes it possible for you to invest in your financial future by providing the opportunity for you to contribute to the Voluntary Retirement Plan. You may contribute to your own retirement through the Voluntary Supplemental Retirement Account (SRA) and designate your contributions as either pre-tax Traditional 403(b) or after-tax Roth 403(b). The Roth 403(b) contributions and earnings are generally tax-free when withdrawn as a qualified distribution. You may designate all of your contributions into a T. Rowe Price Lifecycle Fund, or you may select your own investments based on your financial goals.
You may begin or adjust your contributions at any time using the Voluntary Salary Reduction forms available below. Once enrolled, your contributions can also be adjusted online at any time through MySlice by selecting the View My Benefits Summary option.
TIAA also offers personalized financial planning services to help you reach your retirement goals at no cost. TIAA consultants are available to meet one-on-one with you, on campus or at their Syracuse office. You can also receive advice online and by phone.
To schedule a one-on-one meeting with a financial consultant, call 1-855-842-CUSE (2873), or go online to Syracuse University’s TIAA website. Once you’re registered on the site, you can also manage your TIAA account from there. On TIAA’s website you will find a wealth of online financial planning tools, including the Retirement Goal Evaluator, Asset Allocation Evaluator, and the Voluntary TDA Advantage Calculator, among others.
In addition to retirement benefits, Syracuse University offers a number of other benefits to retirees.
- TIAA Retirement Annuity Application (RA)
- TIAA Supplemental Retirement Annuity Application (GSRA)
- TIAA 457(b) Application
- TIAA Voluntary 403(b) Salary Reduction Form
- TIAA Voluntary 457(b) Salary Reduction Form
- TIAA Waiver Letter and Form – For waiving the University’s 1-year waiting period
Questions? Contact the HR Service Center at 443-4042 or e-mail email@example.com.