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:

premiums remitted by the RF during the previous quarter
the total accumulations of the employee’s contract(s) at the end of the previous quarter.

Annual Statement

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

the total accumulations in the employee’s contract(s) at the end of the calendar year

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 https://www.tiaa-cref.org/rfsuny.