Retirement Savings Plan

Butler wants to help you save for your retirement. The University helps you to build a reserve for retirement by allowing you to contribute part of your compensation to the Butler University 403b Retirement Plan, administered by TIAA, on a pre-tax basis. Pre-tax contributions and earnings grow, tax-deferred until they are withdrawn from the plan.

If you are an eligible employee, complete a year of service, and make the required 5%, pre-tax employee contribution to the plan, the University will make a matching 10% contribution to the plan on your behalf. Your pre-tax contributions, the University’s matching contributions, any rollover contribution you make to the plan, and the earnings on these contributions determine your retirement benefits under the plan.

Learn more about enrollment and your contribution options below.


Signing up for the first time?

You must enroll online at .  Follow the steps in the “Welcome to your retirement program” flyer (PDF).  There are no paper forms to fill out.

If you need assistance you can reach out to TIAA by phone at 800-842-2252, weekdays, 8:00 AM to 10:00 PM and Saturday, 9:00 AM to 6:00 PM (ET); or

contact the Butler Benefits Team at 317-940-2058 or

IRS maximum contribution for 2020 is $19,500.  An additional contribution of $6,500 annually is allowed as a catch-up contribution for participants over the age of 50. If you have been employed by Butler University for 15 years or more you may also be eligible to make a 15-years of service, catch-up contribution. Contact TIAA by phone at 800-842-2252, weekdays, 8:00 AM to 10:00 PM and Saturday, 9:00 AM to 6:00 PM (ET); or

contact the Butler Benefits Team at 317-940-2058 or

Individual retirement or financial counseling sessions are available at no cost to you.

You can discuss your personal financial situation with an experienced TIAA Financial Consultant on a confidential basis.

TIAA Representative, Mike Dooley, is available on campus to help you pursue your financial goals and plan for retirement by investing in financial products such as mutual funds, brokerage, life insurance, and annuities.

A detailed evaluation tells you everything you need to know and do. An individual counseling session will help you answer these questions:

  • Are my investments properly allocated?
  • Am I on track to meet my retirement goals?
  • Am I saving enough?
  • How and from where do I draw retirement income?

Review the TIAA ON CAMPUS schedule and call 800-732-8353 or go online at to book your appointment for a free financial advising session.

Butler University is committed to providing you with competitive retirement benefits. Based on this commitment, we recently conducted a review of the retirement program. The resulting updates are intended to give you the investments, services, and tools you need to help you pursue your retirement savings goals. Please review the following information carefully to learn how your account may be affected. On behalf of Butler University, TIAA implemented the updates during the week of January 22, 2018.

New accounts
During the week of January 22, 2018, all currently contributing retirement plan participants and anyone who holds a mutual fund balance was enrolled in a new account and new Retirement Choice (RC) contracts were issued. Once you were enrolled, TIAA mailed you an enrollment confirmation that provides additional information about your new account.
Your new account began accepting both employer and employee contributions starting on February 1, 2018 for employees who are paid bi-weekly and February 2, 2018 for employees who are paid monthly. Your current investment allocation and beneficiary designation for the Defined Contribution Plan was automatically transferred to your new account. You can make changes to your investment allocation at any time and we encourage you to take this opportunity to review your beneficiary designation1 to ensure it’s current.

Defined Contribution Plan – Retirement Annuity (RA) contract Defined Contribution Retirement Plan –Retirement Choice (RC) contract
Tax-Deferred Annuity Plan – Group Supplemental Retirement Annuity (GSRA) contract,

Retirement Annuity (RA) contract, or Supplemental Retirement Annuity (SRA) contract

Defined Contribution Retirement Plan –Retirement Choice (RC) contract


Existing balances—Mutual funds
All mutual fund balances in your current accounts were transferred to the same investments in your new account during the week of January 29, 2018.

Existing balances—Annuity accounts
Any TIAA and CREF annuity balances remain where they were, although no new contributions or rollovers may be made to them. You will only be permitted to transfer your remaining annuity balances among the CREF Money Market, CREF Stock and TIAA Traditional. You also have the option to transfer your balances to your new account. However, there are a few differences between the current contracts and the new Retirement Choice contract, which mostly apply to the TIAA Traditional and are highlighted below.

  • The guaranteed minimum interest rate for TIAA Traditional is different under the RC contract. Any balances you have in TIAA Traditional in your RA, GA, GRA, SRA and GSRA contracts will continue to earn at least 3%, which is the minimum guaranteed, and any additional amounts will be credited for as long as the assets remain in those accounts.
  • Under the RC contracts, TIAA Traditional has a rate guarantee that is between 1% and 3%, determined annually, which may be lower than the guaranteed rate in your contract. The adjustable-rate guarantee in the new contracts allows TIAA to be more responsive to the prevailing interest rate environment, and provides the potential for higher total credited rates through the crediting of additional amounts.
  • When TIAA Traditional balances are transferred out of an existing contract, you may risk giving up a favorable crediting rate on older contributions.
  • TIAA Traditional balances in the RC contract can be liquidated within a shorter time frame than under the existing RA and GRA contracts.

For more details, see the contract comparison chart located at It is recommended you speak to a TIAA financial consultant by calling 800-842-2252 to discuss your options before making any transfers. Moving money from an existing contract to a new contract is a permanent decision. Money cannot be moved back into a RA, GA, GRA, SRA or GSRA contract.

To learn more about your plan and to update your retirement portfolio online, log in to the secure website at, where you can change the direction of future contributions, transfer existing assets and review your beneficiary election.

If you prefer, you can update your retirement portfolio by calling TIAA at 800-842-2252, weekdays, 8:00 AM to 10:00 PM or Saturday, 9:00 AM to 6:00 PM (ET).

In person:
To schedule an individual one-on-one session, call 800-732-8353, weekdays, 8:00 AM to 8:00 PM (ET). You can also schedule a meeting online at

Important Note: If you have a foreign mailing address on file, there may be restrictions due to international securities laws on investing in the new options. If you have a legitimate U.S. mailing address in Puerto Rico, or an Army Post Office (APO), Diplomatic Post Office (DPO), or Fleet Post Office (FPO) box, the restrictions may not apply to you. Please call TIAA for more information at 800-842-2252, weekdays, 8:00 AM to 10:00 PM or Saturday, 9:00 AM to 6:00 PM (ET).

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All of the live webinars are posted to the Live Webinar Lounge and are available for registration on that site, as well as recorded and available “on-demand” for 30 days.