Cornell College offers a retirement savings plan, administered through TIAA-CREF. Two plans are available, a defined contribution plan and a supplemental plan.
Employees who regularily work 1000 or more hours per year are eligible to enroll in the defined contribution plan upon completing one year of service. This requirement may be satisfied at any educational organization if there is no interruption in service prior to being employed at Cornell College.
Effective September 1, 2013, Cornell College will contribute 7.5% of salary when employee contributes a minimum of 2.5% of salary. All contributions are fully vested.
All employees, regardless of part-time status and number of hours worked, are eligible to enroll in the supplemental retirement plan immediately upon hire date. There is no College contribution to the supplemental plan.
All contributions for both plans are payroll deducted pre-tax.
TIAA-CREF Retirement Plan Information:
Access your personal retirement account online here! Check current balances, growth and plan information. You can also access planning tools, calculators and schedule one-on-one counseling sessions with a TIAA-CREF retirement specialist.
This summary is not intended to be a complete description of your benefits. Please consult you summary plan description and/or insurance certificate for additional details including plan limitations and exclusions. The master plan documents will prevail.