A base five-percent university contribution is supplemented by matching the employee's contributions of up to an additional four percent when the employee chooses to make such additional contributions. Prior employment with an educational institution or research organization may qualify the employee for immediate participation. Contributions may be invested in TIAA-CREFor Mutual of America. Health and dental care premiums are also untaxed in this program. Direct Deposit Direct deposit of payroll checks provides the transfer of funds from IIT's bank facilities directly to your bank or savings institution.
Participation is required upon hire.
A savings bond program is available upon request. To be eligible for tuition remission , the employee must submit a tuition-waiver application at the time of registration. This benefit applies to IIT courses only. Graduate level courses are taxable to the employee, but may be waived in certain situations for the employee's own tuition. Forms, including the waiver, are available in Human Resources.