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Tax-Deferred Annuity Plan

Students in Tribble CourtyardFaculty/Staff Contributions

All Faculty and Staff are eligible to contribute pre-tax dollars to the Tax Deferred Annuity Plan immediately upon employment and can choose one or multiple providers when investing their own contributions.
Voluntary contributions – Limits are imposed by the Internal Revenue Code regarding the maximum amount one can defer.  For 2014, it is $17,500 for those under age 50 and $23,000 if over age 50. Contributions can be changed in each pay cycle.

Wake Forest offers 3 retirement providers to choose from.  You may choose one or multiple providers.

Rollovers/Transfers

Contact TIAA-CREF at 800-842-2776 to discuss what forms to complete for a rollover or transfer.

Contact Vanguard at 800-523-1188 to discuss what forms to complete for a rollover or a transfer.

Contact Fidelity at 800-343-0860 to discuss what forms to complete for a rollover or transfer.

Withdrawals

Withdrawals from your Tax Deferred Annuity Plan contributions are permitted under the following circumstances:

  • Participant is at least age 59.5
  • Participant has either terminated or retired from the University

Loans

Loans are permitted from the Tax Deferred Annuity Plan under the following circumstances:

  • cannot have previously defaulted on a loan with Wake Forest
  • must be an active faculty or staff member
  • minimum loan is $1,000 and maximum is $50,000
  • must have an account balance in employee contributions of 2,222.22 in TIAA-CREF or $2,000 in Fidelity or Vanguard
  • loan request can only be half of what is in your account, up to $50,000
  • must repay the loan back within 60 months

To better serve you and make the most of your time, please schedule an appointment with a Benefits Counselor to discuss your options at 336.758.4700.