Children s Mercy Hospital Retirement Plan. Tax Deferred Annuity (TDA) Plan Enrollment Guide

Transcription

1 Children s Mercy Hospital Retirement Plan Tax Deferred Annuity (TDA) Plan Enrollment Guide

2 Welcome to your Children s Mercy Tax Deferred Annuity (TDA) Retirement Plan. The TDA Plan (a 403[b] plan often used by tax exempt organizations) is a convenient and easy way to save for your retirement and allows you flexibility to decide how to invest your contributions. As an incentive to save, Children s Mercy will match your contributions to help your TDA Plan account grow. Children s Mercy will match 50 percent of your contributions up to 6 percent. This means that for every dollar you contribute to the TDA Plan, Children s Mercy will contribute 50 cents (up to 6 percent of your eligible pay and IRS limits). Children s Mercy s matching contribution begins after you complete two years of service. If you have 2+ years of service and you contribute: Children s Mercy s will make a matching contribution of: 1%.5% 2% 1% 3% 1.5% 4% 2% 5% 2.5% 6% or more 3% Your contributions are made on a before tax basis, meaning you do not pay taxes on the money until you withdraw it. Because of this, the contributions you make reduce your current taxable income. You will pay less in taxes each paycheck, and you may reduce your tax liability. You may make whole percentage contributions (from 1 to 100 percent of your eligible compensation) to your TDA Plan account, up to the 2014 IRS maximum of $17,500 (plus an additional $5,500 if you turn 50 or older in the calendar year). To change your contribution percentage anytime, visit the TIAA CREF microsite at cref.org/childrensmercy. Click Manage My Contributions, then Tax Deferred Annuity Retirement Plan.

3 Investing in your Retirement Plan Before enrolling, you ll need to decide how to invest your money in your Retirement Plan account. The plan offers two different ways to create your investment mix: 1. One Step Investing: You can choose a single, pre mixed fund, referred to as a Lifecycle Fund. If you choose this option, you will be invested in a portfolio that s based on your target retirement date and features a variety of asset classes (including both stocks and bonds). Your asset allocation will then automatically adjust as you get older by reducing exposure to stocks and increasing exposure to bonds. 2. Choose Your Own Investments: If you wish to create your own portfolio, you can choose a combination of investments from the plan s line up. These investment options are professionally managed and include stocks, bonds, real estate, and annuities. Before you make any investment elections, you should become familiar with all of the investment options offered by Children s Mercy. To learn more about the investment line up and review the fund descriptions visit cref.org/childrensmercy and click on Plans and Investments, then select your retirement plan. Not sure how to invest? TIAA CREF can help. If you need assistance selecting your investments, you can schedule a one on one investment advice session with a TIAA CREF Financial Consultant. To schedule a session, simply call TIAA CREF at (800) , Monday through Friday, 7 a.m. to 9 p.m., or Saturday, 8 a.m. to 5p.m. CT. You can also schedule a session online at cref.org/schedulenow. These sessions are available at no additional cost to you.

4 How to enroll Before you enroll online, be ready with: Your Social Security Number Your investment allocations. Your beneficiary s birth date, address and Social Security Number (optional). To get started, visit cref.org/childrensmercy and click Enroll Now or Manage My Contributions

5 Click on the plan name that you would like to enroll or manage contributions.

6 Step 1: Register with TIAA CREF If you are logging in for the first time, you will need to follow the instructions below. Click Register with TIAA CREF. Already have an account with TIAA CREF? If you already have an existing TIAA CREF online account, you can use your existing User ID and click Log in. Please note, the steps will be slightly different if you already have an account with TIAA CREF.

7 On this next screen, enter your Social Security Number and date of birth, then click Continue. Fill out the required information in the Register for Online Access section. Once you ve completed this section, select Continue. Note: Access code automatically populates based on the plan name you clicked on the previous page

8 The next screen will show your personal information, including name and address. Review (and, if necessary, update) this information. Click Continue.

9 Now that you re registered, login by entering your user ID and password.

10 Step 2: Select Your Plans and How Much To Contribute. The CMH plans in which you are eligible to contribute will be listed. To make your employee contributions to a plan, click on Get Started under the plan name. You will need to follow the steps on following pages for each plan option. Please Note: If you are eligible for a plan that isn t appearing on this page, you will need to obtain the access code from your Benefits Office to see the other plans.

11 Step 3: Manage Your Contributions. Under the How will you contribute to this plan? section, enter the percentage of pay you would like to contribute to the plan and choose your Effective Date when contributions will begin. When complete, click Apply Changes Remember: To ensure that you receive the full 3% CMH Match when eligible, you must contribute 6% of your eligible pay..

12 Review your contribution rate and effective date and click Submit Changes. Review the Terms & Conditions and click Agree.

13 You must click Complete Enrollment for your enrollment to be saved.

14 Step 4: Choose Your Investments. Click Choose Investments

15 You ll be taken to the section describing two different investment approaches, One Step and Choose Your Own Investment Mix. (See page 3 of this guide for additional information on these two investment approaches.) If you re interested in the One Step approach, select the Choose this investment box. If you prefer, you can select the Choose Your Own Investment Mix approach, through which you review a list of available investment options and then create your own mix. If you re interested in this option, click the Choose Your Own Investment Mix box and select the investments you re interested in. Make sure the total percentage of your investments equals 100%. Once you ve completed your selections, you ll see your new portfolio in pie chart format. If you re satisfied with this allocation, click the Choose this mix box. Once completed, click Name Beneficiaries. When deciding how to invest your contributions, please note: If you don t specify an investment fund for your account, your contributions will automatically default to the Lifecycle Fund appropriate for your age. You can, however, change how your investments are allocated by logging on to cref.org/mskcc. If you need assistance, please call TIAA CREF at (800) , Monday through Friday, 7 a.m. to 9 p.m., or Saturday, 8 a.m. to 5p.m. CT.

16 Step 5: Name Your Primary and Contingent Beneficiaries From this page, you will name the beneficiaries for your accounts. To add a primary beneficiary: Click the Add a Primary Beneficiary button and complete the required information. Once you ve completed the information, click Add. To add a contingent beneficiary: Click the Add a Contingent Beneficiary button and complete the required information. Once you ve completed the information, click Add. Once you ve completed this step, click the Review and Confirm box.

17 Step 6: Review and Confirm Click the question under Working with a TIAA CREF Financial Consultant and click Confirm and Continue. You will be taken to a final confirmation page.

18 Review your personal information, beneficiary selections, investment choices and the terms and conditions. Once you are finished reviewing, click I have read and accept these terms and conditions, then click Finish Enrollment. Step 7: Thank You You ll come to the Thank you page. You ll receive an e mail confirmation of your enrollment. You can also click the Print Confirmation box to print a confirmation of your elections.

19 Now that you are enrolled, it s easy to manage your money anytime Online Visit cref.org/childrensmercy the home page will take you directly to useful information, including: Saving for Retirement Plans and Investments Frequently Asked Questions Tools & Education Log in to your account at to: Explore the many ways we can serve your financial needs See and update your personal information Check account balances and confirm contributions transfers and allocation changes Have account statements and other communications sent via e mail Call TIAA CREF Just call (800) Monday through Friday, 7 a.m. to 9 p.m., or Saturday, 8 a.m. to 5 p.m. CT to: Get TIAA CREF investment performance information Check your account balances and confirm contributions Make transfers and allocation changes Create or change your password Request publications Meet with a TIAA CREF Consultant To schedule a one on one investment advice session, please call TIAA CREF at: (800) , Monday through Friday, 7 a.m. to 9 p.m., or Saturday, 8 a.m. to 5 p.m. CT. Or, schedule a session at You also have access to these helpful resources: Call (877) to obtain retirement investment advice from CBIZ Financial Solutions. Call (816) to schedule an appointment with a Benefits Communication Specialist to review all of your benefits. Call (816) Monday through Friday from 8 a.m. to 5 p.m. to speak with a Children s Mercy Human Resources Representative.