TIAA Retirement

Defined Contribution Plan

Luther College utilizes TIAA for retirement planning. If you meet the eligibility requirements, the College will contribute an amount equal to 5% of an employee's base salary as long as you contribute at least 3%. You may choose either pre-tax or after-tax (Roth) options.

To make changes you may either call TIAA at 800-842-2776 or use the TIAA PlanFocus link.  Directions follow:

  • Sign in at the upper right hand of the screen. If this is your first time using the website you will need to create a user name and password.
  • Once logged in, click on "Actions"
  • On the next page, under the column called "Retirement", click on "Change Contribution Amount"
  • Click on "Manage My Contributions"
  • Click on "Manage Elections"
  • Enter the percentages you want to have deducted. If you want to divide your contribution between pre-tax and after-tax (Roth), click on the link "Split this amount between pre-tax and Roth"
  • Enter the appropriate start date in "Effective Date"
  • Click on "Continue"
  • Verify that you have entered your changes correctly
  • Click on "Confirm Elections"

 

Examples of Information on the TIAA website:

Make the most of your employer match to save for retirement