TIAA Tax-Deferred Annuity Plan
Any non-student employee (including non-benefited employees) can choose to contribute to any supplemental retirement savings account available through TIAA as long as he/she is receiving a salary from BYU. Contributions are made through payroll deductions. BYU does not make any matching contributions to these accounts.
TIAA 403(b)
To enroll in the TIAA 403(b) plan, please go to https://www.tiaa.org/public/tcm/byu. Once you have completed the enrollment information with TIAA, log in to Workday to designate your contribution percentage. Please see our Change Benefits (Retirement Savings) job aid for instructions on how to manage your TIAA contribution in Workday.
- Contributions can be pre-tax or Roth after-tax.
- Contribution percentage may be changed at any time.
- Contributions can be a whole or fractional percentage (not available in the DMBA 401(k)).
You may only withdraw funds prior to age 59½ for the following reasons:
- Death
- Disability
- Early Retirement (age 55+)
- Termination
Funds that you withdraw prior to age 59½ are subject to federal and state income taxes. Tax laws require a mandatory 20% withholding. Also, an additional tax penalty equal to 10% of the taxable portion of your withdrawal will be imposed.
The annual contribution deferral limit for 2026 is $24,500. Employees age 50-59 and 64 or older may contribute an additional $8,000 catch-up contribution and employees 60-63 may contribute and additional $11,250 catch-up contribution. Catch-up contributions for individuals age 50 and older with FICA wages greater than $150,000 must be contributed as Roth after-tax. Any contributions to a 401(k) also count toward this limit.
There are many investment options to choose from. Please visit the Benefits Office for plan materials which include a list of all available investment options.
TIAA FINANCIAL CONSULTANT APPOINTMENTS
Want more information about the TIAA plans or more in-depth planning for the funds you have already invested in TIAA? Use the following information to set up appointment with a TIAA representative for financial counseling:
CAMPUS APPOINTMENTS
If you are interested in meeting with a TIAA consultant on campus, please call 800.732.8353 to schedule an appointment.
Upcoming Campus Dates
Coming soon!
VIRTUAL APPOINTMENT LINK
If you are interested in meeting with a TIAA consultant virtually, please click the link below to schedule an appointment.
Financial Counseling for Higher Education Institutions in Utah
UPCOMING FINANCIAL ESSENTIALS LIVE WEBINARS
Below is the itinerary of all currently scheduled webinars, with direct scheduling links. Employees can access these webinars at TIAA.org/webinars. Recordings are available for replay on demand for 90 days following the live webinar date.
TIAA also offers Spanish financial educational webinars. The webinars can be accessed here: TIAA.org/RecursosEducativos
TIAA ofreciendo seminarios web de educación financiera en español. Los seminarios web se pueden acceder aquí: TIAA.org/RecursosEducativos.
| TOPIC | DATE | TIME |
|---|---|---|
| Tuesday, October 6 | 10 am MT | |
| Landing your first job can be exciting—and intimidating. Between tax deductions, insurance elections and retirement plans, your first paycheck might be smaller than expected. This session breaks down what’s actually on your paystub and why your benefits matter more than you think. In this webinar, you’ll learn:
Whether you’re starting a new job or simply want to make more confident decisions, this session will help give you the clarity you need. | ||
| Quarterly Economic and Market Update | Wednesday, October 14 | 10 am MT |
| Hear from the experts in our Wealth Chief Investment Office about key drivers of the markets and economy that are impacting investors. We’ll share views on: • The state of the U.S. economy and key market drivers • Factors influencing market volatility • Investing in public markets | ||
| What is an Annuity? Know the basics. | Wednesday, October 21 | 9am MT |
| Annuities have been around for more than 2,000 years. But many people don’t know much about them. We’re going to talk about today’s annuities, what makes them unique and how they can help provide financial security for life as part of a long-term financial plan. This webinar covers:
|