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TIAA-CREF Retirement

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.

Tax Deferred Annuity (TDA)

All employees are eligible to participate in a salary reduction program. The College sponsors TIAA-CREF's SRA (supplemental retirement account) program. Pre-tax dollars have the potential to accumulate tax deferred and are taxable upon distribution. 

Roth (403)b

The TIAA-CREF's Roth (403)b option offers employees the opportunity to contribute to a retirement account with after-tax dollars. Contribution limits are higher than those of the Roth IRA, allowing employees to maximize their after-tax retirement savings. 

Contact Human Resources at extension 1134 for an application.

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