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TIAA

TIAA is a defined contribution plan. Benefits are based on the amount contributed by the employer, the employee and the success of the employee's choice of investments.

Participants enrolled on or before June 30, 1973 to July 26, 1976 are Tier 1 & 2 members and contribute 1.5% of their salary on a post-tax basis. The employer pays 10.5% up to $16,500 on annual income and 13.5% thereafter for the year.

Participants enrolled July 27, 1976 to July 16, 1992 are Tier 3 & 4 members and contribute 1.5% of their salary on a pre-tax basis. The employer pays 10.5% up to $16,500 on annual income and 13.5% thereafter for the year.

Participants enrolled July 17, 1992 to March 31, 2012 are Tier 5 members and contribute 3% of their salary on a federally tax-deferred basis. The employer pays a yearly amount of 8% of salary for the first 7 years of employment and 10% percent thereafter.

Participants enrolled April 1, 2012 to present are Tier 6 (employees joined after March 31, 2012) – Members must contribute 3% until April 1, 2013 after which the contribution will be based on the following wage scale:

  • $45,00 per year or less – 3%
  • More than $45,000 per year to $55,000 per year – 3.5%
  • More than $55,000 per year to $75,000 per year – 4.5%
  • More than $75,000 per year to $100,000 per year – 5.75%
  • More than $100,000 – 6%

Newly enrolled TIAA/CREF participants must complete a 13-month suspense period before becoming a vested member of TIAA-CREF. For employees who have an existing TIAA-CREF retirement annuity contract, the suspense period is waived. If the prior contract is a CUNY contract the member may retain the previous CUNY tier. If the previous contract is a non-CUNY contract the employee will be immediately vested with the existing tier structure for new employees. Both employee and employer contributions will be remitted after the vesting period has been met, retroactive to the enrollment date.

Effective July 1, 2000, participants who have a regular annuity contract with TIAA-CREF are now eligible to take a loan. Loans are available from a minimum of $1,000 to a maximum of $50,000. For further information, please call TIAA-CREF at 1-800-842-2776.

Address/Contacts
TIAA Mailing Address:
730 Third Avenue
New York, New York 10017-3206

TIAA Telephone Number: 1-800-842-2733