Commonly Asked Questions

This information is summary in nature and does not supersede your plan documents. Consult your plan documents for full eligibility and coverage details.

Q:  When am I eligible to begin making contributions to my retirement plan?

A: Eligible individuals can begin making contributions to their TIAA-CREF account in the first payroll period of the month after their date of hire; if your hire date is the first of the month, then you may begin contributing during the first payroll period of your month of hire. You need to have an account set up with TIAA-CREF that is associated with the University of New England before we can begin making contributions.

Q:  When am I eligible for matching contributions from the University?

A:  Eligible participants may receive University matching contributions when they have been employed with the University for 12 consecutive months or if they have worked at another institution of higher education for 12 consecutive months. The University matches your contributions percent for percent to a maximum of 8%.

Q:  If I didn’t elect to start a retirement account when I was first signing up for benefits, do I have to wait for open enrollment to begin participation?

A:  No, you do not need to wait for the general open enrollment to begin participation in the retirement account. You can elect participation at any time with an effective date of the first day of any future month. Your HR representative can assist you with this process.

Q:  When can I make changes to how much I am contributing to my retirement account?

A:  You can make changes to your contributions at any time with an effective date of the first of any future month. To make changes you need to complete a new Salary Reduction Agreement form. Your HR representative can assist you with this process.

Q:  I have questions about TIAA-CREF products. How can I get information from TIAA-CREF?

A:  To obtain information about products, you can contact TIAA-CREF online or by telephone.

Q:  Where can I find out more information about the retirement plan?

A: The Summary Plan Description (SPD) can answer many of the questions you may have about your retirement benefit.