Hires After 12-31-18
Your Retirement Choice Decision
NYU is committed to helping you plan and save for a secure retirement. As a recent Laboratory & Technical Staff (Local 3882), Office & Clerical Staff (Local 3882), or Non-Union Service Staff hire, NYU is providing you with a one-time choice between two retirement plan options:
Staff Pension Plan (SPP) + Supplemental Tax Deferred Annuity (STDA) Plan
This choice includes two plans with different provisions. NYU pays the full cost of the benefit in the SPP and you can make your own contributions to the STDA Plan. Learn more about the plans.
NYU Retirement Plan for Faculty, Professional Research Staff, and Administration
This choice is one plan that will include both NYU contributions (non-elective and match) and your own contribution. Learn more about the plan.
NYU is providing the following resources to help you determine which retirement option best meets your needs.
Retirement Choice Decision Guide (PDF)
The NYU Retirement Choice Decision Guide (PDF) gives you detailed information about your two retirement options. In addition, this guide features profiles of sample employees and the factors each considered when making a choice.
Retirement Choice Video
This brief video highlights the key information you need to know about the retirement choice and when and where you can make your election.
Approximately nine months after your hire date, you’ll be able to choose the retirement plan that is best for you during your individual two-week election window by following these steps:
- Read the email sent to your NYU.edu email address, which includes important information and key dates for your two-week election window. Click on the link in the email to begin the election process.
- Review the instructions and make your choice.
- After you submit your election, you will receive an email confirming your choice. This is a one-time irrevocable election.
If You Do Not Actively Make A Retirement Choice
If you do not actively make a retirement choice, you will continue to participate in the STDA Plan, to the extent you have elected to do so, and be enrolled in the SPP. This is the only opportunity you will have to choose the NYU Retirement Plan.
When Your Retirement Choice Becomes Effective
If you choose the NYU Retirement Plan, you will be eligible for the plan one year after your hire date and you will be immediately vested for employer contributions. You will not lose any benefit you may have earned in the STDA Plan, but will no longer be eligible to make contributions to the STDA Plan. Once your participation in the Retirement Plan commences, you will begin to receive your 5% of base pay NYU non-elective contribution.
If you choose the SPP and STDA Plan, your eligibility for the STDA Plan will simply continue and you will participate in the SPP one year after your hire date.
- STDA Plan or NYU Retirement Plan: NYU Retirement Plans Helpline at TIAA at 844-NYU-TIAA (844-698-8422)
- Staff Pension Plan: NYU Pension Service Center at Aon at 855-632-5016
- Election process: PeopleLink, NYU's benefits and payroll service center, at 212-992-LINK (5465) or firstname.lastname@example.org
Start to compare and learn about your options by reviewing the guide (PDF) and video.
2 Weeks Before Election Window
You will receive an email with dates and instructions.
9 Months After Hire
You will be eligible to make your choice during a two-week election window.
1 Year After Hire
Your election becomes effective.