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Retirement Plan Overview and Login Instructions

Creighton University's contract number is 615443.  The Principal Financial Group is the record-keeper for The Plan and their website address is www.principal.com.  In the logon window, click on "Personal" from the list of values, then click on "First time logging in" and type in your user name (default is social security number) and Creighton University's contract number.  Follow the prompts to create your secure account, elect your deferral amount, choose your Mutual Funds, Lifetime Funds or RetireView Portfolios, and name your beneficiaries (addresses are required, SSN's are optional.)  Make sure you confirm your elections.  If you have already logged into the Principal website and forgotten your user name or password, please follow the prompts to reset.

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Retirement Plan Participation

Any employee of the University who completes at least one hour of service is eligible to participate in the Plan for purposes of making salary deferrals except the following individuals:

  • Employee who is a student performing services that meet specific requirements of the Internal Revenue Code.
  • Employee considered an independent contractor or an employee of an independent contractor.

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2014 IRS Maximum Contribution Limits

403(b) Contributions

$17,500

Catch-up Contributions for age 50 or older

$5, 500

Total for employees who will be 50 or older in 2013

$23,000

15 year service (at Creighton University) provision ($3,000 per year over 5 years)

$3,000

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Retirement Match

Employees are eligible to make pre-tax salary deferrals and are eligible to receive a match by the University on the first day of the month after the:

  • Completion of Two Years of Service as defined below.

Year of service means completion of a period of employment with the University during which time you receive credit for at least 1,000 hours of service based on your anniversary period.  

Period of employment means the first 12-month period beginning on the date you are employed, and if you do not complete 1,000 hours of service in that period, subsequent 12-month periods will begin on each anniversary of your employment date.  

Service will be credited for each hour for which you are paid for performing duties for the University. We will credit for hours paid for approved absences when you are not performing duties for the University such as vacation, holiday, illness, and incapacity (including disability). However, no more than 501 hours receives credit for any single continuous period of absence.

For purposes of matching and minimum contributions made by the University to an employee's account, the following employees are excluded:

  • Members of the Jesuit Community at Creighton University
  • House Staff/Residents in the medical school at Creighton University
  • Exempt employees under the special part-time program 

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Early Entry to Receive Matching Contribution

New employees that participated in a 401(a) or 403(b) plan, and had at least two years of service with another post-secondary academic institution (teaching hospital affiliated with an academic institution) will be deemed to have met the eligibility rules. Early participation requires appropriate documentation from the previous employer. It is important to note that the employee is responsible for obtaining the documentation and providing it to Human Resources for consideration. See Guide to 2 Year Waiver Process for complete details.

Under the early participation rules, the University may limit participation if the participation would cause the University to fail certain anti-discrimination requirements for the tax laws.

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Prior Service Eligibility at Creighton University

Employees who have prior lifetime eligible service (meaning you had at least 2 years of consecutive periods of service with the University prior to your separation) will have that service applied toward the two-year waiting period. These provisions only apply to the Retirement Plan.  If you are not sure if you meet these requirements, please contact Judy Gonzales at 402-280-5767 for determination.

Under the early participation rules, the University may limit participation if it would cause the University to fail certain anti-discrimination requirements for the tax laws.

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Principal Financial Account Changes

An employee can modify their investments, move monies, redirect monies, and increase the deferral percentage (restricted to whole numbers) at anytime when you log into your account and access the “Make Changes Tab.”

The changes will begin as administratively feasible following the date of change.

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TIAA-CREF Login Instructions (Restricted to employees hired or rehired prior to November 1, 2008)

Employees that want to invest with TIAA-CREF please access the Creighton micro-site at http://www.tiaa-cref.org/creighton click on the “Enroll Now” box. There are two plans identified on the micro-site as follows:

  • Creighton University DC Retirement Plan (Plan 101042)
  • Creighton University TDA Plan (Plan 101043) 

The DC is for employees that are eligible to receive the match (stores employee’s 0-5% deferral plus the University match). Please complete the application on-line.

The TDA plan (also known as a supplemental contribution or elective deferrals above an employee’s 5% deferral under the DC plan) is for employees not eligible for the match. Please complete the application on-line. 

In addition, you must complete a Salary Reduction Agreement (SRA) which is located on the micro-site. Download the form by clicking on the “Enroll Now” button. Please print the form, complete all sections that apply to you as the participant and send to Human Resources attn: Judy Gonzales or Lenora Salts for processing. 

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TIAA-CREF Account Changes and Salary Reduction Agreement (modify you elective deferral percent)

Employee’s can modify their investments, move monies, and redirect monies at anytime by logging into their account. The exception is participants that wanting to change their elective deferral percentage you need to print off the Salary Reduction Agreement (SRA) from the micro-site. The Salary Reduction Agreement is printable by accessing the micro-site at http://www.tiaa-cref.org/creighton by clicking on the “Enroll Now” button. Print off the form, complete all sections that apply, date, sign and submit to Human Resources Attn: Judy Gonzales or Lenora Salts for processing.

Salary Reduction Agreements authorize Creighton University to take monies from your payroll check and send them to the investment provider TIAA-CREF. This form provides the percentage allocation you wish to contribute (includes both your RA and GSRA deferral percentage) under the retirement plan (Allows whole numbers only).

The changes will begin as administratively feasible following the date of change. 

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Plan Participants Who Opt to Change Investment Provider (Restricted to employees hired or rehired prior to November 1, 2008)

Employees changing investment providers (Ex. investing with TIAA-CREF but moving to The Principal Financial or vice versa) must coordinate with Human Resources on this transaction. Coordination is essential in this process so you do not miss out on your employee deferral and/or the employer match (if applicable). Additional paperwork is required if you are moving existing monies from one record keeper to the other.

The changes will begin as administratively feasible following the date of change.

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Current Matching Table

Creighton University matches your Base Compensation based on the amount of your pre-tax deferral up to certain limits.

403 (b) Employee Elective Deferral

Employer Minimum Contribution

Employer Matching Contribution

Total Employer Contribution

5.00%

2.00%

5.00%

7.00%

4.00%

2.00%

3.60%

5.60%

3.00%

2.00%

2.20%

4.20%

2.00%

2.00%

.80%

2.80%

1.00%

2.00%

0.00%

2.00%

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Minimum University Contribution

Plan participants who elect not to make pre-tax deferrals from their own pay, will receive the University's contribution of 2% of their Base Compensation automatically upon satisfying the eligibility requirements. The match begins on the first full payroll after the 2nd anniversary date.

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Base Compensation

Base Salary is your base pay from the University, excluding overtime, one-time payments, summer session income, stipends, commissions, bonuses; and special payments including teaching overload pay, seminars, summer research payments and similar items.

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Vesting

Vesting is the term for gaining full ownership in a benefit provided to you by a plan.  Under Creighton’s plan, when eligible for the employer matching contribution and separate service with the University, the matching contribution is yours.  You have immediate vesting in all the benefits provided to you by the Retirement Plan.  This does not mean you have access to the monies at any time.  See hardship provisions and minimum age for distributions while employed.

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Naming Your Beneficiaries – Both Record Investment Providers

Participants are eligible to name persons or institutions/trusts as primary beneficiaries of their Retirement Plan accounts.  For each person, you will need to provide first and last name, date of birth, Social Security number (optional), address and relationship.

For trusts, Principal requires you to print the on-line beneficiary form.  Complete all sections of the form and submit to Principal Financial or Human Resources. 

TIAA-CREF requires a new beneficiary form to be completed, which is located on the micro-site at http://www.tiaa-cref.org/creighton. Print, complete and submit the form to Human Resources.

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