Emeriti Health Account
TIAA CREF: Recordkeeper & Investment Manager
Customer Service: 866-363-7484
To help you save for your future health care needs, SMU provides the Emeriti Health Account, a tax-advantaged way to invest and accumulate assets to pay for your insurance premiums and other eligible health expenses in retirement. The Emeriti Health Account is not related to the SMU 403(b) Retirement Plan.
Following is a brief summary of the eligibility and participation requirements:
- If you are age 40 or older (full-time faculty or staff), you will automatically be enrolled in an Emeriti Health Account, and you will contribute $60.83 per month (prorated depending on your pay schedule) on a pre-tax basis during the 2013 calendar year. SMU will make equal matching contributions on your behalf as long as you remain an eligible employee - until you retire or for up to 25 years, whichever occurs first. Once enrolled, you choose how to invest contributions made by you and SMU, among several Fidelity investment options. Age 40+ mandatory contributions (including SMU matching contributions) will increase 4% each year. You may also make unlimited, voluntary contributions to your account on an after-tax basis. Please contact BenefitsU (214-768-2132) if you wish to make voluntary after-tax contributions.
- If you are under age 40 (full-time faculty & staff), you can enroll in and make voluntary, unlimited after-tax contributions to an Emeriti Health Account. Please contact BenefitsU (214-768-3311) if you wish to make voluntary after-tax contributions. Once you reach age 40, you will begin contributing on a pre-tax basis and SMU will begin making matching contributions on your behalf as long as you remain an eligible employee - until you retire or for up to 25 years, whichever occurs first.
- Your contributions to your Emeriti Health Account vest immediately. SMU's matching contributions to your account vest after you complete seven years of employment.
You can review your account activity by visiting the TIAA-CREF website. If you have never logged into your account, click on "New User? Register Online" and follow the New User Registration instructions.
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