How can I participate in the plan and select the new 1% contribution option?
This option applies to staff and part-time faculty. Complete a Retirement Plan Enrollment and Contribution Change form selecting the 1% option and specifying the date you wish this option to begin and the date it should end. Submit the completed form to the Benefit Division. Your enrollment will not be complete until you establish an investment company account with TIAA-CREF and/or Fidelity Investments. The 1% option is an alternative contribution rate and is not in addition to 2%, 3.5% or 5%. If you chose at a later date to increase your contribution above the 1% rate, you may elect the contribution rate based on your age. For example, if you are age 55, you may elect to contribute at the contribution rate of 5%, not 3.5% or 2%.
Related Questions
- If I select the STRS Ohio Defined Contribution or Combined Plan, are there any restrictions on moving money from one investment option to another? How do I make changes to my account?
- Are reemployed retirees eligible to participate in the Defined Contribution Plan or the Combined Plan?
- How can I participate in the plan and select the new 1% contribution option?
