{"id":30,"date":"2021-09-24T17:14:37","date_gmt":"2021-09-24T17:14:37","guid":{"rendered":"https:\/\/www.butler.edu\/human-resources\/benefits\/financial-retirement-savings-plan\/"},"modified":"2026-09-18T16:23:40","modified_gmt":"2026-09-18T20:23:40","slug":"retirement-savings-plan","status":"publish","type":"page","link":"https:\/\/www.butler.edu\/human-resources\/benefits\/financial\/retirement-savings-plan\/","title":{"rendered":"Retirement Savings Plan"},"content":{"rendered":"<section class=\"content-block content-block--has-menu wp-block-butler-content-block\">\n\t<div class=\"content-block-container\">\n\t\t<div class=\"content-block-layout\">\n\t\t\t<div class=\"content-block-menu-container\">\n\t\t\t\t\t\t\t\t\t<nav class=\"content-block-menu-nav\" aria-label=\"Site menu\" id=\"page-nav\"><div class=\"content-block-menu-wrapper\"><header class=\"content-block-menu-header\"><span class=\"content-block-menu-header-label\">Financial Benefits Menu<\/span><button type=\"button\" class=\"content-block-menu-mobile-toggle\" title=\"Toggle menu\" aria-label=\"Toggle menu\" aria-expanded=\"false\"><\/button><\/header><ul class=\"content-block-menu-list\"><li class=\"content-block-menu-list-item content-block-menu-item-initial\"><a href=\"https:\/\/www.butler.edu\/human-resources\/flexible-spending-account\/\" class=\"content-block-menu-list-link\">Flexible Spending Account<\/a><\/li><li class=\"content-block-menu-list-item content-block-menu-item-initial\"><a href=\"https:\/\/www.butler.edu\/human-resources\/benefits\/financial\/financial-hsa\/\" class=\"content-block-menu-list-link\">Health Savings Account<\/a><\/li><li class=\"content-block-menu-list-item content-block-menu-item-initial\"><a href=\"https:\/\/www.butler.edu\/human-resources\/benefits\/financial\/tuition-remission\/\" class=\"content-block-menu-list-link\">Tuition Remission<\/a><\/li><li class=\"content-block-menu-list-item content-block-menu-item-initial\"><a href=\"https:\/\/www.butler.edu\/human-resources\/benefits\/financial\/tuition-exchange\/\" class=\"content-block-menu-list-link\">Tuition Exchange<\/a><\/li><li class=\"content-block-menu-list-item content-block-menu-item-initial\"><a href=\"https:\/\/www.butler.edu\/human-resources\/benefits\/financial\/retirement-savings-plan\/\" class=\"content-block-menu-list-link\">Retirement Savings Plan<\/a><\/li><li class=\"content-block-menu-list-item content-block-menu-item-initial\"><a href=\"https:\/\/www.butler.edu\/human-resources\/benefits\/financial\/life-accident-insurance\/\" class=\"content-block-menu-list-link\">Life and AD&amp;D Insurance<\/a><\/li><li class=\"content-block-menu-list-item content-block-menu-item-initial\"><a href=\"https:\/\/www.butler.edu\/human-resources\/benefits\/financial\/short-long-term-disability\/\" class=\"content-block-menu-list-link\">Short &amp; Long Term Disability<\/a><\/li><li class=\"content-block-menu-list-item content-block-menu-item-initial\"><a href=\"https:\/\/www.butler.edu\/human-resources\/benefits\/financial\/personal-computer-loan\/\" class=\"content-block-menu-list-link\">Personal Computer Loan Program<\/a><\/li><\/ul><\/div><\/nav>\t\t\t\t\t\t\t<\/div>\n\t\t\t<div class=\"content-block-content-container is-layout-constrained\">\n\t\t\t\t\n\n<h1 id=\"h-403-b-retirement\" class=\"wp-block-heading\">403(b) Retirement<\/h1>\n\n\n\n<h2 id=\"h-tiaa-cref\" class=\"wp-block-heading\">TIAA-CREF<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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\u2019s TIAA retirement plan.<\/p>\n\n\n\n<h3 id=\"h-to-complete-enrollment-or-update-change-information\" class=\"wp-block-heading\">To complete enrollment or update\/change information:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Go to <a href=\"http:\/\/www.tiaa.org\/butler\" target=\"_blank\" rel=\"noopener\">www.TIAA.org\/butler<\/a>.<\/li>\n\n\n\n<li>Select &#8220;Enroll or update.&#8221;\n<ul class=\"wp-block-list\">\n<li>If you are a first-time user: Select &#8220;Register with TIAA to create your user ID and password.&#8221;<\/li>\n\n\n\n<li>If you are a returning user: Enter your TIAA user ID and select &#8220;Log In.&#8221;<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Follow the prompts and print out the confirmation page. You are now enrolled.\n<ul class=\"wp-block-list\">\n<li><em>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. <\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><em>&nbsp;<\/em>Remember to balance out your supplemental retirement plan contribution so that you do not reach the annual IRS limit too soon. When this happens, <strong>all<\/strong> your contributions are terminated, and you might miss out on the 10% employer match for which you are eligible.<\/p>\n\n\n\n<h3 id=\"h-to-change-investments-or-transfer-funds\" class=\"wp-block-heading\">To change investments or transfer funds:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Go to <a href=\"http:\/\/www.tiaa.org\/butler\" target=\"_blank\" rel=\"noopener\">www.TIAA.org\/butler<\/a>, select &#8220;Log In,&#8221; then enter your TIAA user ID and password.<\/li>\n\n\n\n<li>In the My Account drop-down menu, select &#8220;Manage Investments.&#8221;\n<ul class=\"wp-block-list\">\n<li><em>To Change Investments for Future Contributions<\/em>: Select &#8220;Change Allocation of Contributions&#8221; and select each account\/contract you would like to update and enter your investment instructions.<\/li>\n\n\n\n<li><em>To Transfer Funds<\/em>: Select &#8220;Change My Investments&#8221; and select each account\/contract you would like to update and enter your investment instructions.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 id=\"h-to-change-beneficiary-designation\" class=\"wp-block-heading\">To change beneficiary designation:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Go to <a href=\"http:\/\/www.tiaa.org\/butler\" target=\"_blank\" rel=\"noopener\">www.TIAA.org\/butler<\/a>, select &#8220;Log In,&#8221; then enter your TIAA user ID and password.<\/li>\n\n\n\n<li>In the My Account drop-down menu, select &#8220;Change Beneficiaries.&#8221;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/cdn.butler.edu\/www\/sites\/14\/2022\/02\/08103513\/butler_university_403b_summary_plan_description01012020.pdf\" rel=\"noopener\" target=\"_blank\">Summary Plan Description (PDF)<\/a><\/p>\n\n\n\n<h2 id=\"h-take-advantage-of-butler-s-employer-match\" class=\"wp-block-heading\">Take advantage of Butler\u2019s employer match<\/h2>\n\n\n\n<h3 id=\"h-we-re-committed-to-helping-you-save-for-your-financial-future\" class=\"wp-block-heading\">We&#8217;re committed to helping you save for your financial future<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Your Butler University Retirement Plan comes with a powerful advantage\u2014you become eligible to receive employer-matching contributions after one year of employment. Whether you&#8217;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.<\/p>\n\n\n\n<h3 id=\"h-put-the-employer-match-to-work-for-your-future\" class=\"wp-block-heading\">Put the employer match to work for your future<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you contribute 5%, Butler University will match your contribution at 10%. If you\u2019re not enrolled in the plan\u2014or not contributing enough to receive the full match\u2014you\u2019re walking away from &#8220;free&#8221; money.<\/p>\n\n\n\n<h3 id=\"h-benefits-of-butler-s-employer-match\" class=\"wp-block-heading\">Benefits of Butler&#8217;s employer match<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can discuss your personal financial situation with an experienced TIAA Financial Consultant on a confidential basis. TIAA Representative Ben Voss is available to help you pursue your financial goals and plan for retirement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ben Voss, TIAA Financial Consultant<br><a href=\"mailto:ben.voss@tia.org\" target=\"_blank\" rel=\"noreferrer noopener\">ben.voss@tia.org<\/a><br>Office: 317-706-6208<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Visit\u00a0<a href=\"https:\/\/tiaa.org\/schedulenow\" target=\"_blank\" rel=\"noreferrer noopener\">tiaa.org\/schedulenow<\/a>\u00a0or call 800-842-2252, weekdays, 8:00 AM\u201310:00 PM (ET).<\/p>\n\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":0,"parent":25,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-30","page","type-page","status-publish","hentry"],"revision_note":"","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast 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