403(b) Retirement

TIAA-CREF

Butler University wants to assist employees in their effort to save for retirement and provides an opportunity for employees to make pre-tax contributions to the Butler University 403(b) Retirement Plan administered by TIAA.

If you are an eligible full-time employee, complete a year of service, and make the required 5% pre-tax employee contribution to the plan, the University will make a discretionary matching 10% contribution to the plan on your behalf. Employees will make their salary deferral election(s) for the retirement plan by setting up an account with TIAA and following the online salary deferral election instructions. Please follow the instructions below to get started.

Butler employees who are less than full-time can contribute to their retirement account with employee pre-tax deferrals and can enroll in the plan the month following the date of hire. The employer match will not apply to employees working less than full-time. All employees are always 100% vested in all plan accounts through Butler’s TIAA retirement plan.

To complete enrollment or update/change information:

  • Go to www.TIAA.org/butler
  • Click “Enroll or update”
    • If you are a first-time user: Click “Register with TIAA to create your user ID and password”
    • If you are a returning user: Enter your TIAA user ID and click “Log In”
  • Follow the prompts and print out the confirmation page. You are now enrolled.
    • Please be aware that there are election deadlines required for processing online elections. Review the payroll date and election date schedule provided on the TIAA website.

 Remember to balance out your supplemental retirement plan contribution so that you do not reach the annual IRS limit too soon. When this happens ALL your contributions are terminated, and you might miss out on the 10% employer match for which you are eligible.

To change investments or transfer funds:

  • Go to www.TIAA.org/butler, click “Log In”, then enter your TIAA user ID and password
  • In the My Account drop-down menu, select “Manage Investments”
    • To Change Investments for Future Contributions: Select “Change Allocation of Contributions” and select each account/contract you would like to update and enter your investment instructions.
    • To Transfer Funds: Select “Change My Investments” and select each account/contract you would like to update and enter your investment instructions.

To change beneficiary designation:

  • Go to www.TIAA.org/butler, click “Log In”, then enter your TIAA user ID and password
  • In the My Account drop-down menu, select “Change Beneficiaries”

Summary Plan Description (PDF)

Don’t leave “free” retirement money on the table. Take advantage of the Butler University employer match.

We’re committed to helping you save for your financial future.

Your Butler University Retirement Plan comes with a powerful advantage—you become eligible to receive employer-matching contributions after one year of employment. Whether you’re just beginning to save for retirement or looking to boost your existing strategy, making the most of this benefit is one of the smartest financial moves you can make.

Put the employer match to work for your future.

If you contribute 5%, Butler University will match your contribution at 10%. If you’re not enrolled in the plan—or not contributing enough to receive the full match—you’re walking away from “free” money.

The benefits of the Butler University retirement plan employer match:

Your contributions to the plan, combined with the employer match and the effects of compound interest over time, can make a significant difference in your financial well-being in retirement. But you must contribute to the plan to benefit from the match.

You can discuss your personal financial situation with an experienced TIAA Financial Consultant on a confidential basis. TIAA Representative, Mike Dooley, is available 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.

Mike Dooley, Field Consultant
317-706-6242
mdooley@tiaa.org

Or

800-732-8353
www.tiaa.org/butler