The Board Action was amended on May 5, 1967. The Director of Finance will administer tax-deferred annuity plans for the University, including the establishment of administrative procedures. Companies A company must secure five employee participants before agreements will be entered with that company. New employees may transfer an existing plan from a previous institution without regard to the number of participants, providing the agreement is effective within six months of employment at the University. The University does not approve or disapprove any company or plan or make any recommendation to employees concerning any company or plan.
All employees are eligible to enter into salary reduction agreements for tax-deferred annuities.
The University will determine the maximum it will permit. Amounts must be equal for all months. When to Enter Reductions can begin with any month if the forms are turned in to the Director of Finance by the first of the month. A person can discontinue participation in a plan at any time. How to Enter Forms for applying to Teachers Insurance and Annuity Association for TIAA or CREF policies can be obtained from the Office of the Director of Finance.