Oberlin Defined Contribution 403(b) Plan - Retirement Annuity (RA)

After one year of service from Date of Hire and at age 26, classified benefit-eligible employees become qualified to participate in the Oberlin College (OC) Defined Contribution Plan. Once qualification is met, classified employees must sign up/enroll into a TIAA RA Contract in order for OC to make contributions into the employee’s Defined Contribution Plan .  Please note that the Oberlin Employer Contribution will be suspended August 1, 2020-July 31, 2021.  Faculty, A&PS, and Confidential Employees Summary of Modifications

For complete details regarding the retirement program, refer to the Summary Plan Description.

We hope you are doing well and managing through this challenging time.  We want to let you know that Don Denault from TIAA is still here to help you with your retirement and financial needs, offer advice and answer questions.  He is offering virtual/phone appointment at the following dates from 8:00 a.m.-1:00 p.m.:

  • Tuesday, September 15, 2020 
  • Wednesday, September 16, 2020 
  • Thursday, September 17, 2020 
  • Tuesday, October 6, 2020 
  • Wednesday, October 7, 2020 
  • Thursday, October 8, 2020 
  • Tuesday, November 3, 2020 
  • Wednesday, November 4, 2020 
  • Thursday, November 5, 2020 
  • Tuesday, December 8, 2020 
  • Wednesday, December 9, 2020 
  • Thursday, December 10, 2020  

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.

Oberlin College Tax-Deferred Annuity (TDA) 403(b) Plan - Supplemental Retirement Account (SRA) - Group Supplemental Retirement Annuity (GSRA):

All classified employees are eligible to save for retirement on a tax-deferred basis by enrolling into a TIAA GSRA Contract, a tax-advantage account you can use to build extra retirement savings. GSRAs are funded with Voluntary Employee pre-tax dollars. Contact the Department of Human Resources for enrollment information.

The CARES ACT, recently signed into law, includes provisions relating to loans and distributions from qualified retirement accounts.  

Please see the communication below around these two plan modifications and the action process should this apply to you.

 

New TIAA Enhanced Web Capabilities and Quiet Period

Please read about new enhanced web capabilities and the ability to make changes to your Oberlin retirement deductions online through TIAA.  We will no longer be using paper Agreements for Salary Reduction Forms.  Please note the quiet period under "Key Dates" on the document when changes will be limited.

 

Documents: