Department of Human Resources

Retirement Plans - TIAA

Oberlin offers two retirement plans with TIAA, both are 403(b), tax-advantaged plans

  • Defined Contribution Retirement Annuity (RA)
  • Supplemental Retirement Account Annuity (SRA)

Retirement Annuity (RA)

Oberlin will make pre-tax employer contributions after one-year of service and attaining age 26 into the RA plan. Contributions from Oberlin are automatic and do not depend on any employee contribution. Contributions from Oberlin are based on age. Also after one year, employees can participate in the RA account with their own pre-tax contributions

Faculty / A&PS / UAW / Security

  • Age 26-34       5%
  • Age 35-44       8%
  • Age 45-54       10%  on the first $100,000 of salary; 8% on salary above $100,000
  • Age 55 +          12%  on the first $100,000 of salary; 8% on salary above $100,000

Administrative Assistants Union (OCOPE)

  • Age 26-44                                    8%
  • 45+                                                 9%
  • 55 and 20 years of service      10%

Supplemental Retirement Annuity (SRA)

Employees are eligible to participate in the SRA upon hire. Contributions are made on a pre-tax basis from one’s paycheck. Enrollment is done online using the instructions linked here. You can also contact Oberlin’s TIAA representative, Don Denault, at ddenault@tiaa.org for assistance in enrollment.

For 2022, the contribution limits for an individual are:

  • Age 50 or less in 2022             $20,500
  • Age 50 or more in 2022          $27,000

 

Don Denault, financial consultant from TIAA, is here to help you with your retirement and financial needs, offer advice and answer questions.  He is offering a mix of virtual and in-person appointments on the following dates:

  • May 17, 2022 (In-person)
  • May 24, 2022 (Zoom)
  • June 1, 2022 (Zoom)
  • June 14, 15, 2022 (In-person)
  • July 13, 14, 2022 (Zoom)
  • August 9, 10, 2022 (Zoom)
  • September 1, 2022 (Zoom)
  • September 21, 22, 2022 (In-person)
  • October 5, 2022 (Zoom)
  • October 19, 20, 2022 (In-person)
  • November 2, 2022 (Zoom)
  • Nobember 15, 16, 2022 (In-Person)
  • December 1, 2022 (Zoom)
  • December 6, 7, 2022 (In-person)

You can schedule an appointment at: www.tiaa.org/schedulenow . Then should select the option for Your Employer and click on schedule, select Ohio and then Oberlin College and all available appointment times will populate.  Don will call you during the scheduled time.  Or schedule your appointment by calling (800) 732-8353  8 a.m. to 8 p.m., Monday through Friday.