2019 Retirement Enhancements

Central Michigan University is committed to helping faculty and staff achieve their retirement goals by adding more flexibility when making contributions. On July 1, 2019, two enhancements will be available.

Start, stop or change your contributions online

Paper forms will no longer be required.  As of July 1, 2019, employees will make their contribution elections by logging into their TIAA online account.  Detailed instructions with screenshots are available here.

  • Log in to TIAA.org/cmich (first-time users will need to register for secure online access)
  • Select Actions on the menu bar
  • Under the Retirement header click on Change contribution amount
  • Follow the prompts to start, stop or change your contributions
  • For assistance navigating the TIAA website or to change your election via phone, please contact TIAA at 800-732-8353, weekdays, 8 a.m. to 8 p.m. (ET)

Roth contribution option offers tax-free retirement income

As of July 1, 2019, Roth after-tax contributions will be accepted in the 403(b) Supplemental Tax Deferral Plan and 457(b) Public Deferred Compensation Plan* within the IRS calendar year contribution limits.  

The Roth contribution option allows employees to make contributions that are taxed based on their current tax rates, so they can make tax-free withdrawals later in retirement after meeting certain criteria. Generally, this option may benefit participants if they expect their tax rate to be the same or higher in retirement.  

For a comparison of the benefits of traditional (or before-tax) and Roth (or after-tax) contribution options, check out the Comparison Chart of Contribution Options.  

IRS Contribution Limits

Because Roth after-tax contributions are under the same IRS limits as the traditional before-tax contributions, each dollar of after-tax contribution reduces the amount that can be contributed before-tax and vice versa. 

Employees take-home will be less than it would be if they made an equivalent traditional before-tax contribution because income taxes must be withheld and paid on Roth after-tax contributions.

For more details on the Roth after-tax contribution option, review the FAQs.

Employees are encouraged to meet with their tax, legal or accounting advisor or a representative from TIAA to discuss whether the Roth contribution option is right for them.

*Roth contribution option is not available in the 403(b) Basic Retirement Plan (CMU's contribution).