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Retirement

At Carnegie, you receive retirement benefits through two separate defined contribution plans managed by TIAA_CREF. Under these plans, you have the ability to make certain investment decisions. These two plans, taken together, are designed to provide retirement support for employees.

    Specifically

  • You automatically become a participant in a Carnegie Institution Retirement Plan on your first day of employment. The Institution makes a monthly contribution to your retirement account, the amount which is based on y our age and is a percentage of your salary from 10 to 20 percent, increasing yearly as you grow older.
    • You are also automatically enrolled in a plan (Supplemental Retirement Annuity, or 403-B plan) that is funded through a payroll deduction. The default option for your contributions under this plan is 2% of your salary.

    Basic information concerning the retirement plan is available at: TIAA-CREF Member Services Website.

    To enroll automatically in the Carnegie Institution Retirement Plan, you must complete the TIAA-CREF Retirement Enrollment Form.

    Enrollment in the SRA plan is automatic, but you must complete the Enrollment Form for TDA Plan. However, if you wish to invest more or less than 2% of your salary, o ryou do not which to participate in the plan, you must complete a Salary Reduction Agreement.

    More details about the Carnegie Institution Retirement plan are available at Summary Plan Description. Your attention is also directed to the following notice: 403 B plan - Notice of Availability, Automatic Enrollment Provision, and Default Investment Option.

    Please proceed to Other Benefits