Asbury University currently contributes a maximum amount of 4% to a RA (Retirement Annuity Account) for employees who contribute 4% to the retirement plan.
Eligible employees may contribute a minimum of 1% of their base salary to the plan, with the maximum contribution based on all allowable tax deferred plans. The University contributes an amount of the base salary as a match, according to the options listed below, . The total amount contributed is immediately vested with the employee being the sole owner of all contributions. In addition, employees may set up a Group Supplemental Retirement Annuity through the Human Resources Office.
Employees are considered eligible after completing one year of full-time service and attainment of age 21. Participation is voluntary for all employees. The waiting period will be waived for an eligible employee who has met the service requirement at another education institution.
The matching tier rates are as follows:
If you are not participating in the retirement plan and are eligible, consider signing up today and give yourself a raise.
Also, begin saving extra today by starting a GSRA (Group Supplemental Retirement Annuity). The GSRA offers the ability to take a loan from the account (certain requirements must be met). You select the investment portfolio just like the matching account.
Please download and complete and sign the following document and submit to Human Resources:
Please contact Human Resources for instructions on how to enroll online.
Retirement Plan –Asbury University Summary Plan Description 2021
Do you have a log in for your retirement account at TIAA? It’s easy to log in on their website. Go to www.tiaa.org today and get logged in. You will need your contract number which is located on your statement to get logged in.
The website allows you to:
TIAA Local Office
The local office address for TIAA is:
2365 Harrodsburg Road, Suite B 250, Lexington, KY 40504
Phone number is:
866-842-2992
Individual Virtual Meetings
REMINDER –Just a reminder that earlier this year we provided you information via e-mail from Ruth Dimmett, TIAA Representative, that TIAA is now utilizing a link to schedule virtual appointments throughout the year.Please visit (https://www.tiaa.org/public/support/contact-tiaa/consultations-seminars) to access the calendar for 1:1 meetings virtually. You will be able to view any available virtual meetings. Ruth’s calendar will show 45 days of availability. This link also connects you to access to Educational Group Seminars and Webinars that TIAA offers