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OM 8.1.5 Pension Plan

About This Policy

Effective Date: January 1986
Last Updated: July 2012
Responsible University Office: Human Resources
Responsible University Administrator: Chief Inclusion and Human Resources Officer

Policy Contact:

Human Resources
clarksonhr@clarkson.edu

Policy

Mandatory participation is required after completion of two years of full-time service at an institution of higher education. Verification of previous higher education employment is required. Employees are required to contribute 4.8% of regular salary, while the University contribution will equal 9.6% of their regular salary.

Employees will be notified by the Human Resources Office when they are pension eligible. It is then their responsibility to complete any required forms needed by TIAA. Representatives from TIAA visit the campus on a regular basis for enrollment of newly eligible participants and investment strategies for current participants.

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History

Revised January 1986

Revised December 1986

Editorial Revision July 1989

Editorial Revision August 1996

Revised July 1997

Editorial Revision May 2008

Section Renumbered & Revised July 2011

Section Renumbered July 2012

Editorial Revision, December 2019

Title revision, Aug 2023

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