Emeriti is offered as a means for full-time faculty and staff to set aside savings while they are working that can be used to pay for healthcare expenses during their retirement years.
Once the employee reaches the age of 40, the College begins contributing $45 per month to TIAA-Cref for the employee. For funding information go to TIAA-Cref.
Employees must work for the College for 5 years to be vested in the plan.
The employee is not required to contribute his/her own money into the plan
in order to receive the College's contribution. Employees who wish to
contribute may do so. This is an after-tax benefit.