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 (IRS) regarding the maximum amount one can defer. For 2015, it is $18,000 for those under age 50 and $24,000 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.
- TIAA-CREF Website
- TIAA-CREF Tax-Deferred Annuity Fund Performance Report
- TIAA-CREF Defined Contribution Qualified Default Investment Alternative
- TIAA-CREF Beneficiary Change Form
- Vanguard Website
- Vanguard Qualified Default Investment Alternative
- Vanguard Enrollment/Beneficiary Change Form
- Fidelity Website
- Fidelity Qualified Default Investment Alternative
- Fidelity Consultation Information
- Fidelity Beneficiary Change Form
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 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 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 with Fidelity and Vanguard
- loan request can only be 45% of what is in your account, up to $50,000 with TIAA
- must repay the loan back within 60 months
- contributions invested in a TIAA-CREF annuity contract are ineligible for any loan.
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.