TIAA & Auto-Enrollment

This page is for new and current employees setting up or managing their retirement foundation.

At Berea College, we believe that financial well-being is a key part of your long-term success. To make saving for the future as easy as possible, we have partnered with TIAA to offer an “Auto-Enroll” and “Auto-Save” program. This feature takes the guesswork out of retirement planning by automatically starting and growing your savings from day one.

How the TIAA Plan Works

TIAA (Teachers Insurance and Annuity Association) is a leading provider of financial services in the academic and non-profit research fields. Through our TIAA 403(b) plan, your contributions are taken from your paycheck pretax, which reduces your taxable income today while building your nest egg for tomorrow.

Berea’s Plan Specifics: Auto-Enroll & Auto-Save

The college’s retirement strategy is built on two primary pillars designed to help you reach a 10-15% total savings goal over your career:

Automatic Enrollment (The 2% Rule)

Automatic Saving (The 1% Yearly Boost)

To help your savings keep pace with your career growth, your contribution will automatically increase 1% every July 1st.

The 8% Difference

Berea College provides a generous 8% non-elective contribution. This means once you are eligible, the College contributes an amount equal to 8% of your gross salary into your TIAA account - regardless of whether you choose to contribute your own money or not. To qualify for the 8% employer contribution, your must meet the following criteria:

Exceptions: We value your experience you bring from other institutions. You may be able to waive the 12-month waiting period if:

Important Enrollment Milestones

TIAA One-On-One Sessions

Our TIAA Rep visits campus several times a year. These visits are always communicated in advance via the Berea Calendar. You can also schedule a meeting outside of these on-site visits. Click on the link below to find a day and time that works best for you. You will have to log in to gain access to the calendar to schedule a meeting.

SCHEDULE A MEETING

Additional Resources

Questions? Participants can call 800 842-2252

Monday - Friday, 8 am to 10 pm (EST)

Saturday, 9 am - 6 pm (EST)

Automated service available 24/7