Hendrix College provides all employees the opportunity to use a salary deduction to put funds into their 403b retirement account on a pre-tax basis which is administered by TIAA-CREF. Any employee may
contribute up to the maximum allowed by the IRS ($18,000 in 2015; if over age
50 the limit is $24,000) into a Supplemental Retirement Account (SRA).
Full-time employees are eligible to receive contributions from Hendrix College after two years of full-time service with Hendrix College (or based on credit for years of service in higher education).
For all payments received after your second year anniversary, Hendrix will
begin contributing 2.25% of your base salary and will match your contribution up to another 2.25% in the Retirement Account (RA). Therefore, if you are contributing at least 2.25% Hendrix contributes 2.25% and matches your 2.25%. For all payments received after your six year anniversary Hendrix will
contribute 8.5% of your base salary with no requirement for you to
contribute. You may continue to contribute more than is required to receive the match, or after the match is no longer available, but all such contributions must be made to your SRA account and the total you put into your 403b (RA & SRA combined) must remain under the legal maximums outlined above.
Use the salary reduction form to adjust the amount/percentage you hold out from your check each period.
TIAA-CREF Allocations & Info
To enroll initially or change the allocation of your funds visit http://tiaa-cref.org/hendrix
Please note that in the event you move you will also need to update your information directly with TIAA-CREF which can be done online. Representatives from TIAA-CREF visit campus several times a year for one-on-one counseling sessions. Human Resources will announce available times and dates as they are scheduled.