Defined Contribution Plan
Luther College utilizes TIAA-CREF for retirement planning. After a one year waiting period, the College remits an amount equal to 10 percent of an employee's base salary to TIAA-CREF. During the waiting period you must complete more than 1,000 hours of service. This contribution is not subject to personal income taxes. The one year waiting period may be waived if you were a participant in a qualified retirement plan in which your previous employer made contributions immediately before becoming employed at Luther College. Contact Human Resources for further details.
Tax Deferred Annuity (TDA)
All employees, whether a member of TIAA-CREF or not, are eligible to participate in a salary reduction program. The College sponsors TIAA-CREF's SRA (supplemental retirement account) program. Contact Human Resources for an application.
- Defined and Deferred Contribution Summary Plan (2011) (239 KB Word Document)(.doc)