Faculty/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 2013, it is $17,500 for those under age 50 and $23,000 if over age 50. Contributions can be changed in each pay cycle.

• Qualified Default Investment Alternative Notice for Employee Contributions

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

• Fidelity Website
• Fidelity Qualified Default Investment Alternative
• Fidelity Consultation Information
• TIAA-CREF Website
• TIAA-CREF Qualifed Default Investment Alternative
• Vanguard Website
• Vanguard Qualified Default Investment Alternative 

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
• can only have one loan from the Tax Deferred Annuity Account at a time
• 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.