NYU Retirement Plan Elections for January 1, 2014
Dear NYU-Poly faculty and employees,
Among the benefits available to you as a member of the New York University community effective January 1, 2014, is the opportunity to participate in one or both of NYU’s retirement plans.
NYU offers two distinct retirement plans:
-- NYU Retirement Plan: NYU contributes 5% of your salary after 1 year of service (including NYU-Poly service) and an additional 1% for every 1% of salary you elect to contribute, up to a maximum of 5%.
-- NYU Supplemental Tax Deferred Annuity (STDA) Plan: If you elect to contribute more than 5% of your retirement-eligible salary (subject to IRS limits), those contributions will be deposited into the STDA plan.
To learn more and enroll in the plans, click on NYU Retirement Plan and NYU Supplemental Tax Deferred Annuity (STDA) Plan for each plan’s Salary Reduction Form, which contains links for more detailed information, including a Summary Plan Description, fund performance and fees, and default investment notice.
Please carefully consider the opportunities and features of the NYU retirement plans in order to submit your Salary Reduction Forms to NYU-Poly Human Resources by October 18, 2013. The elections you submit will become effective on January 1, 2014, the first day of your NYU employment. If your elections are not received by the October 18, 2013 deadline, the retirement plan contributions NYU makes on your behalf will be invested in the Plan’s default investment fund, which is the Vanguard Target Retirement fund appropriate to your age.
NYU has selected The Vanguard Group and TIAA-CREF to offer investment options under each plan. When you join the plan(s), you decide how the money in your account is invested. You can choose to invest your entire account with one investment provider or you can spread your investments between both investment companies.
Representatives of both vendors are available for one-on-one meetings. Your spouse or partner is welcome to attend your meeting. To set up an appointment:
-- call TIAA-CREF at 800-732-8353
-- call Vanguard at 800-662-0106, extension 14500, or visit www.meetvanguard.com
If you have any questions about:
-- your existing retirement plan with NYU-Poly, contact NYU-Poly HR at 646.997.3840 or firstname.lastname@example.org,
-- investments, fund performance, and fees, contact TIAA-CREF at 800-732-8353 or Vanguard at 800-523-1188, or
-- NYU’s retirement plans, contact NYU PeopleLink at 212-992-LINK (5465) or email@example.com.
The Benefits Office
NYU Human Resources