All part-time faculty who are members of the Rhode Island School of Design Part-Time Faculty Association can contribute toward RISD’s retirement plan.
Employee Contributions: Employees may elect to contribute pre-tax dollars up to the IRS determined annual limit. Employees ages 50 and over by December 31st of the plan year who elect to contribute the IRS determined annual limit may contribute an additional catch-up amount.
Start Date: First of the month coinciding with or following the date of hire.
End Date: Employees may stop contributions at any time. Coverage ends on the last day of active employment.
Changes: Employees may make changes to their fund allocation at any time by logging into their TIAA account. Employees may also elect in Workday to change their contributions for the next following pay period. For further assistance, please see instructions for making contribution changes in Workday.
To help RISD employees understand, navigate, and pursue generous federal programs, such as reduced student loan payments and forgiveness, RISD has leveraged our relationship with TIAA to offer access to Savi Services. Savi can help employees in one of two ways:
- Through a self-directed and no – cost tool, employees can assess their situation and obtain information on options/opportunities that may exist. The tool may be accessed at www.tiaa.org/risd/student.
- By opting to voluntarily enroll in and purchase Savi’s Essential Service. With the Essential Service, Savi will administer the program’s ongoing paperwork requirements including annual re enrollment, employer certification, and filings.
More information on Savi Services may be found at www.tiaa.org/risd/student or by calling 1-833-604-1226. Additionally, their schedule of free semi-monthly webinars can be found here.
403(b) Educational Materials and Resources
TIAA provided the following educational materials and resources to help you get the most out of your retirement benefits: