Professional Research Staff
New York University is committed to helping you plan and save for a secure retirement. NYU offers a generous, defined contribution plan to which you and the University contribute.
Upon hire, eligible employees can elect to contribute to the NYU Retirement Plan for Members of the Faculty, Professional Research Staff, and Administration up to the IRS annual contribution limit through pre-tax salary deferrals (see the IRS Annual Contribution Limits and Maximum Allowable Compensation Levels - Google Doc: 12 KB). New employees will be automatically enrolled in the Plan to make employee contributions of 5% of your pay, unless you opt not to contribute or to contribute a different amount during the 60-day period beginning on your date of eligibility.
After a year of service, NYU provides a non-elective contribution of 5% of your base salary and, if you make employee contributions, NYU will make a matching contribution of up to 5% of your base salary up to the IRS annual compensation limit.
You may waive the one-year of service requirement if:
- Your previous employer was a college, university, medical institution or practice, or tax exempt medical research institution;*
- Your employment with that institution ended not more than 180 days before your employment with NYU; and
- You were employed with that institution for at least one year in a non-student capacity and you worked at least 1,000 hours in that one-year period.
*NYU determines whether a prior employer meets this requirement. If you believe you are eligible for service credit with your previous employer, it is your obligation to contact NYU PeopleLink at firstname.lastname@example.org or 212-992-LINK (5465), Monday through Friday, 8 am to 6 pm. Please include the name of your previous eligible employer along with a contact name and phone number so that NYU can verify your employment.
How to Enroll / Manage Your Account
Login to NYUHome and select Go on the NYU Retirement Plans card or login to TIAA.org/nyu to manage your employee contribution amount, investments, and beneficiary information. If you need help accessing or navigating the retirement site, contact the NYU Retirement Plans Helpline at 844-NYU-TIAA (844-698-8422).
For detailed plan information, including information on eligibility, loans, withdrawals, and distributions, please read the Summary Plan Description (Google Doc: 54 KB). See below for FAQs about contributions, eligible compensation, rollovers and transfers, investments, and investment advice.
How much can I contribute to the Plan?
You may make an employee contribution on a per pay period basis up to the IRS annual contribution limit (see the IRS Annual Contribution Limits and Maximum Allowable Compensation Levels - Google Doc: 12 KB). If your employee contributions reach the IRS contribution limit during the year, they will be suspended for the remainder of the year. Your NYU match will also be suspended.
How much will NYU contribute to the Plan?
After a year of service, NYU will make a non-elective contribution of 5% of your base salary on a per pay period basis up to the IRS annual compensation limit. NYU will also make a matching contribution equal to your employee contributions that do not exceed 5% of your base salary on a per pay period basis up to the IRS annual compensation limit (see the IRS Annual Contribution Limits and Maximum Allowable Compensation Levels - Google Doc: 12 KB).
Will NYU “true-up” my matching contributions?
For match-eligible participants whose employee contributions may vary over the course of the plan year, the Plan provides for a “true-up” matching contribution. After the end of the calendar year, NYU will review your employee contributions and matching NYU contributions and, if needed, make additional matching contributions to your TIAA account “true-up”. This will ensure that your total, annual matching contributions either equal your employee contributions or are 5% of your base salary, up to the IRS compensation limit.
What compensation is eligible for employee and employer contributions?
For the employee contribution, it is your total cash compensation for the pay period, which includes base salary, additional compensation, activity pay, overtime pay, cash bonuses, summer compensation, and any additional compensation for duties performed. Your employee contribution election does not apply to any imputed income, allowances, subsidies, stipends, or other amounts that you did not earn for services performed.
Unlike employee contributions, NYU matching and non-elective contributions are made to a match-eligible participant based on your “base salary” for the pay period. Base salary is paid to an employee for services rendered to the University in your primary appointment position. For faculty members, base salary means the base salary for your primary appointment position, plus compensation for any administrative assignment which carries a title and summer compensation paid up to 3/9 of the academic base year salary. See NYU Retirement Plan Eligible Compensation for more details.
Are rollover or transfer contributions allowed?
You may make a rollover contribution to the NYU Retirement Plan. The rollover contribution must meet applicable IRS requirements. The Plan does not accept rollovers of Roth 401(k), Roth 403(b), or other non-qualified plan accounts.
If you are an eligible employee, you may transfer your account balances from your NYU Supplemental Tax Deferred Annuity Plan account into the Plan.
How do I choose or change my investments?
You can choose investments through the TIAA website or by contacting the NYU Retirement Plans Helpline at TIAA at 844-NYU-TIAA (844-698-8422). The Plan offers a range of investment funds, so that you can choose the investments that are right for you.
Before making any investment decision, you should read the booklets and the prospectuses for each fund in which you may wish to invest. You can order booklets and prospectuses directly from the TIAA website or by contacting the NYU Retirement Plans Helpline at TIAA at 844-NYU-TIAA (844-698-8422).
Does the Plan have a default fund?
If you do not provide affirmative investment directions, your account will be invested in the Plan’s default investment fund, which is currently the Vanguard Target Retirement Fund appropriate to you at age 65. Target retirement funds automatically adjust your investment allocation, determined by your age and date of retirement.
Can TIAA provide me investment advice?
Yes, investment advice from TIAA (PDF: 195 KB) is available with respect to all investments offered on the Plan’s investment menu. Advice is available online, by phone, or through a one-on-one counseling session. To schedule a consultation, visit TIAA.org/schedulenow or by calling the NYU Retirement Plans Helpline at TIAA at 844-NYU-TIAA (844-698-8422).
Three options for your contributions:
Elect an employee contribution based on a percentage of pay, flat dollar amount, or maximum amount (to contribute up to the IRS limit).