The Ithaca College 403(b) Retirement Plan provides all employees of the College, who receive compensation reportable on an IRS Form W-2, the opportunity to save for their retirement. Student workers are not eligible to participate in the plan. The Plan which is administered by TIAAis a defined contribution plan that operates under Section 403(b) of the Internal Revenue Code (IRC). Participation is voluntary.
403(b) Retirement Savings Plan
Employer Contribution Message
Ithaca College’s employer contribution to the IC 403(b) Retirement Plan was reinstated on July 1, 2021. The current employer contribution rate is 7.5%.
403(b) Retirement Plan Provider - TIAA
TIAA is available to answer any questions you have regarding your 403(b) plan with Ithaca College over the phone, in person, or online at www.tiaa.com/ithaca.
TIAA Customer Service: 800-842-2252
Ithaca TIAA Office: 607-274-6450
Auto Enrollment
Employees hired after June 1, 2013, are automatically enrolled into the Plan. Effective, August 1, 2022, employees are automatically enrolled at a 3% employee contribution rate. Ithaca College may provide a matching contribution for employees who are eligible. If eligible, the employer match is made on a per pay period basis. If you do not contribute in the pay period, there is no match in that pay period. There is an annual true-up provision. Participation in the Plan is voluntary and employees can change or stop their contribution at any time.
Important Notices:
- Auto Enrollment Notification
- Initial Eligibility Letter
- Auto Increase - 30 Day Notification
- Auto Increase Confirmation
- Ithaca Opt Out Confirmation
- Universal Availability Notice
After you receive your auto enrollment notice, you will have 30 days to change your contribution amount or opt out of the Plan. Once enrolled you can log in at any time to change your contribution or stop contributing by setting your contribution rate to zero. If you wish to opt-out of the Ithaca College 403(b) Retirement Plan, contact TIAA directly at 800.842.2252 or visit www.tiaa.org/ithaca and Log in. If you’re new to TIAA, select Log in, then, Register for online access. Follow the on-screen directions to access your account. For step-by-step information on how to change your elections in the IC 403(b) Plan, click here.
Eligibility to Make Elective Deferrals
All eligible employees are eligible to contribute a portion of their pay into the Plan as a pre-tax Deferral and/or a Roth Deferral. Roth deferrals are made with after-tax dollars, and any qualified distributions of the contributions plus earnings are tax-free. Please see the Universal Availability Notice (above) for more information.
Making a Change to Your Contributions
You can change your elections or stop your contributions at any time by logging on to the TIAA Website at: www.tiaa.com/ithaca. Once you log in, navigate to Retirement, choose Change Your Contributions, then Manage Contributions. For more step-by-step information, click here.
Plan Contribution Limits
Contributions made by an employee as well as contributions the College makes on an employee’s behalf are subject to a number of complex Internal Revenue Code limits. Contributions made to another employer’s retirement plan in the same calendar year may limit contributions to IC’s plan. Please contact a member of the ICHR benefits team for more information.
Additional Important Information
For additional information please see the Summary Plan Description.
Other Related Documents
- TIAA - Guide - How to Change Contributions
- TIAA Model Profiles
Important Plan Documents
- Summary Plan Description
- Summary Annual Report (SAR)