Section 28
RETIREMENT
- Retirement. The University will continue to participate in the retirement plan as required by State law.
- For employees first employed on or after January 1, 1996, the University will contribute 10.55 percent of eligible wages to TIAA-CREF. Contributions will begin effective the date of hire. Eligible employees include those hired into positions with an annualized full-time equivalent (FTE) of .5 or greater. Employees who are participants in the TIAA-CREF retirement program have the option of participating in the TIAA-CREF Matching Contribution Program, subject to the current provisions of the program.
- Employees in the bargaining unit have the option of participating in the Retirement Supplemental Voluntary Program (RSVP), subject to the current provisions of the program.