The New School offers two retirement plans, both administered by TIAA. Once enrolled in either plan, you can
access your account online or call the TIAA Telephone Counseling Center at 800.842.2252 for account information. You can also meet with a TIAA consultant for an individual counseling session on campus by calling 800.732.8353 to schedule an appointment.
Summary Plan Description (PDF) for more information about these plans.
You are eligible to make voluntary contributions to the Tax Deferred Annuity (TDA) plan beginning the first of the month following your hire date. New TDA enrollments and changes to existing elections can be made at any time through
these instructions on how to make your change. Your election will take effect on the first of the month after you submit your Benefit Event through MyDay.
A variety of
investment choices are offered by TIAA. You can select investment options and name beneficiaries for this plan
online directly with TIAA (click "Ready to Enroll" then select "Tax-Deferred Annuity Plan"). If you do not make an investment choice, your contributions will be automatically invested in a
qualified default investment alternative, which is a TIAA Lifecycle Fund, on the basis of your expected year of retirement, assuming age 65. Review the
fact sheet for Lifecycle Funds and the
investment performance and fee information. You can change your investment choices
online with TIAA at any time by logging in to your account.
You can choose to contribute a percentage of your base annual salary or a flat dollar amount per paycheck. The maximum annual contribution as set by the IRS in 2017 is $18,000. Employees age 50 and older (and those who will attain age 50 by December 31) are eligible to contribute an additional $6,000 annually, as set by the IRS (referred to as the "Age 50+ Catch-Up"). If you have made or are making contributions to more than one employer's retirement plan, it is your responsibility to ensure that your total calendar year contributions do not exceed the maximum annual basic contribution amount and the Age 50+ Catch-Up contribution amount (if applicable).
Your election is a Salary Reduction Agreement and shall be legally binding and irrevocable with respect to amounts paid while the agreement is in effect. Generally, employees must pay Social Security and Medicare tax on 403(b) contributions that they make into their Tax Deferred Annuity Account. It is recommended that you consult a tax advisor prior to making your elections.
Please contact the Benefits Staff at
email@example.com or call TIAA at 800.842.2252 for additional information.
Unless you decline to participate or otherwise make a separate election, you will be enrolled automatically in the TDA plan at a 3% contribution rate on the date indicated in the enrollment notification email you will receive. If you are automatically enrolled and do not
make an investment choice, contributions will be invested in a qualified default investment alternative (see information above). If you have been automatically enrolled and you subsequently decline the enrollment or make a new election, the change will take effect on the first of the
month following your change request. If you decline the automatic enrollment, you can elect to contribute at any time through
these instructions on how to make your change.
You must work at The New School a minimum of two consecutive academic years to be eligible for the university's retirement plan for part-time faculty.
Once you become eligible and have been enrolled, the university will automatically contribute 10 percent of your base annual salary to a TIAA account set up for you (this is a separate account than the Tax Deferred Annuity Account described above). Contributions are made to
your account each pay period. Upon enrollment in the plan, you are immediately 100 percent vested and have a nonforfeitable right to all contributions made to the account and all earnings. Your account grows on a tax-deferred basis until a distribution is made to you.
A variety of
investment choices are offered by TIAA. You should select investment options and name beneficiaries for this plan
online directly with TIAA (click "Ready to Enroll" then select "The New School Retirement Plan for Part-Time Faculty"). If you do not make an investment choice, your contributions will be automatically invested in a
qualified default investment alternative, which is a TIAA Lifecycle Fund based on your expected year of retirement, assuming age 65. Review the
fact sheet for Lifecycle Funds and the
investment performance and fee information. You can change your investment choices at any time online with TIAA by logging in to your account.
TIAA offers a Self-Directed Brokerage Services Account
within your retirement plan, giving you an opportunity to allocate your
retirement plan contributions among a variety of investment choices
beyond the investments offered through The New School.
Office of Human Resources
80 Fifth Avenue, 8th floor (Map)
9:00 a.m.-5:00 p.m.
212.229.5671 x5671(listen for instructions)firstname.lastname@example.org
Benefits Forms and Documents
Part-Time Faculty Benefits Eligibility Criteria Checklist (PDF)
Mannes Part-Time Faculty Benefits Eligibility Criteria Checklist
Employee Assistance Program