DESCRIPTION:

TIAA-CREF (Teachers Insurance and Annuity Association-College Retirement Equities Fund) is a 403(b) voluntary tax sheltered annuity plan.  The employee is 100% vested upon enrollment.

ELIGIBILITY/ENROLLMENT:

All full-time employees are eligible to elect this retirement plan upon hire.

NOTE:  Election of a retirement plan is a one-time, irrevocable decision for the length of your employment at NWACC.

CONTRIBUTION RATES :

• Contributory Plan:  The employee contribution rate is four percent (4%) of gross earnings.  The college contribution rate is ten percent (10%) of the employee's gross earnings.
• Non-Contributory Plan:  The employee does not contribute to the plan.  The college contribution rate is six percent (6%) of the employee's gross earnings

KEY POINTS :

• TIAA-CREF offers variable annuity accounts to include CREF Stock, Global Equities, Growth, Equity Index, Real Estate, Bond Market, Inflation-Linked Bond, Money Market and Social Choice. 
• TIAA-CREF offers a Guaranteed Annuity Account.
• A prospectus containing investment objectives, risks, and other important information will be provided.
• Contributions may be allocated (in whole number percentages) in any manner.

QUESTIONS/CONTACT INFORMATION:

For questions about this retirement plan, contact your Benefits Coordinator, visit their website at www.tiaa-cref.org or contact TIAA-CREF at 1-800-842-2776 and speak with a consultant.