Eligible employees may participate in the core retirement plan with TIAA. Eligibility occurs when the employee has completed one year of employment at 1000 hours per year. Emmanuel may be able to recognize employment at another institution of higher education when calculating eligibility. If the employee participates and contributes 5%, Emmanuel will contribute a discretionary contribution of at least 1% of the eligible employee's regular earnings each pay period. Currently the College's contribution is 9%. As a condition of employment employees aged 35 and over who have worked for the College for 5 or more years must contribute 5% of their salary to retirement savings.
Learn more: http://www.tiaa.org