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Dear Colleagues,
We have exciting news to share regarding your TIAA 403(b) Plan.
Effective immediately, you can make Roth contributions in addition to pre-tax contributions.
This feature provides you with additional opportunities to save for retirement based on your individual savings goals. Some key highlights of participating in the Roth option include the following:
- Contributions are after-tax
- Contributions and earnings grow tax-free
- Withdrawals can be made tax-free and penalty-free when the participant reaches 59.5 years of age, and the account has been open for a minimum of 5 years
To update your 403(b) contributions, please visit TIAA and select "Actions" followed by "Manage Contributions." To learn more about Roth contributions and/or to have a financial consultation, please contact Michael Breen (Michael.Breen@tiaa.org), Financial Consultant. Alternatively, you can make an appointment with a TIAA Financial Advisor using the TIAA online scheduler at any time.
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