Basic Retirement Plan: Information Provided to Vested Employees

Purpose

This document describes the information vested employees receive from TIAA-CREF and tells how to contact TIAA-CREF for information or assistance.

Vested Contracts

After receiving notice that an employee has vested, TIAA-CREF will provide the employee with a contract invested in a lifecycle mutual fund which is appropriate for the employee's age and estimated year of retirement.

TIAA-CREF uses the following methodology to determine the specific lifecycle fund into which a plan participant will be placed upon vesting. They use the person's birth year to determine the lifecycle fund default.

Qualifying DOB

Lifecycle Fund

Initial Target Equity/Non-Equity Split

1948 & prior

2010

50/50

1949-1953

2015

55/45

1954-1958

2020

60/40

1959-1963

2025

65/35

1964-1968

2030

70/30

1969-1973

2035

75/25

1974 & later

2040

80/20

Quarterly and Annual Statements

Quarterly Statement

Once an employee has vested in the Research Foundation (RF) Basic Retirement Plan and a lifecycle mutual fund contract has been issued in the employee's name, TIAA-CREF will begin sending the employee quarterly accumulation statements indicating:

Annual Statement

TIAA-CREF will send an annual statement to employees providing:

Contacting TIAA-CREF

For information about quarterly statements, accumulations, and publications, administrators should contact the Administrative Telephone Center at 1-888-842-7782. Employess with questions should contact TIAA-CREF at 1-800-842-2776.

TIAA-CREF Web Site

Employees may obtain information about their accumulations and make changes via the TIAA-CREF Web site at http://www.tiaa-cref.org/rfsuny.

 

 

Feedback
Was this document clear and easy to follow? Please send your feedback to webfeedback@rfsuny.org.

Copyright © 2011 The Research Foundation of State University of New York