Tax-Deferred Annuity Plan
Faculty members wishing to increase their post-retirement income can make pretax contributions through salary reduction to a Group Supplemental Retirement Annuity (GSRA) contract through TIAA-CREF. Individuals may specify the allocation of contributions between TIAA (fixed and variable annuity funds) and CREF (eight variable annuity funds) in whole percentage amounts.
The GSRA maintains the same basic features as the regular retirement plan with some added options. Under the GSRA, your total accumulation may be paid as a lump-sum benefit, and loans can be drawn from the plan during employment. Accumulations may be transferred to the more than 30 investment funds available through the Princeton University Retirement Plan with The Vanguard Group.
Members of the faculty (excluding visitors) whose duty time is 50 percent or greater for appointments of five months or more are eligible to participate in the benefit described above. These summaries are for general information only. The University intends to continue each of the benefit plans but reserves the right to terminate or amend any plan at any time and for any reason. Any inquiries concerning details of the benefit plans listed in this section should be addressed to the Office of Human Resources, 1 New South Building, (609) 258-3300. More detailed information can also be found on the HR website.