CMU employees will now log in to TIAA.org/carnegiemellon to enroll and make changes to voluntary retirement contributions. View the announcement [pdf] for details.
There are two retirement savings plans available through Carnegie Mellon University:
Generally, per IRS rules, contributions cannot exceed $69,000 for 2024 (all sources and plans combined). The Plan Administrator may request information regarding other plan contributions to ensure compliance with the limitations under Internal Revenue Code section 415. Regardless of whether an inquiry is made, however, you must inform the Plan Administrator of the existence of the other plan and the contributions or benefits that you accumulate under that plan in a year. If the Plan Administrator is unaware of that other plan, the Plan Administrator cannot apply the combined limits to this plan. It is your sole responsibility to assure compliance with the combined limits by limiting your contributions (see the Contribution Worksheet [pdf] for additional information). If you have general questions, please contact HR Services / 412-268-4600 or submit a request for assistance (Andrew ID login required) and create an HR ticket.
Carnegie Mellon University reserves the right to amend, modify, suspend, replace or terminate any of its plans, policies or programs, in whole or in part, including any level or form of coverage, by appropriate action of the university (or its delegate), without the consent or concurrence of persons affected.
The information presented is not intended to create, nor is it to be construed to create, a contract between the university (or its affiliates) and any one of the university’s employees, former employees, or other plan participants or beneficiaries.
Please note that a summary of the benefits provided under each plan is contained in the summary plan description for such plan. Full details are provided in the official plan documents, which govern the operation of the respective plan. In the event that the content provided or any oral representations made by any person regarding a plan conflict with or are inconsistent with the provisions of the applicable plan document, the provisions of the applicable plan document will control.
Log in to tiaa.org/carnegiemellon to view or update your retirement contributions.
Full-time faculty and staff members are enrolled automatically on the 1st of the month coincident with or following their date of hire. Part-time employees are enrolled once their 1,000 required hours are reached during their employment year.
Carnegie Mellon contributes an amount equal to 8% of your eligible base salary, unless you have a 9-month academic year appointment; then Carnegie Mellon contributes 9.78% of your academic year salary, paid over nine months. You are not taxed on university contributions at the time they are made. All contributions and their earnings will be taxable when you take a distribution. An additional penalty may be assessed if you withdraw funds prior to age 59½.
Vesting means that you own the funds Carnegie Mellon has contributed on your behalf, as well as any earnings from those investments. If you separate from the university before you are vested, you will lose all university contributions and any earnings. Vesting under the CMU Faculty and Staff Retirement Plan requires that you complete three years of service. You must complete 1,000 hours in each of three employment years. Your employment year begins on your date of hire and is not necessarily a calendar year. The Faculty and Staff Retirement Plan document [pdf] outlines how hours are counted for exempt employees.
The three-year vesting period may be reduced or waived if, in the past five years, you performed sufficient services at another college/university and met certain participation requirements. For this service to be recognized for vesting purposes under the Faculty and Staff Retirement Plan or the CMU 401(k), you must complete the Prior Service Credit Request form [pdf] and return it to a Retirement Benefit Specialist at 4516 Henry Street. The university will then reach out to your former employer to verify the prior years of service.
You also become immediately vested if, while employed at the university, you:
Faculty members, staff members and student employees can elect to make their own contributions by payroll deduction by logging in to tiaa.org/carnegiemellon. Refer to TIAA's How to Access Your Account Online [pdf] for instructions.
Your contributions will automatically be stopped by Payroll if your maximum limit is reached during the calendar year. See the Contribution Worksheet [pdf] for additional information.
You are always 100% vested in your own contributions.
**The FSRP is an Internal Revenue Code Section 403(b) plan and has a special catch-up for 15 years of service. This 15-year-of-service catch-up is calculated each year and automatically applied if you qualify. This catch-up provision does not apply to 401(k) plans.
Full-time faculty and staff members are enrolled automatically on the 1st of the month coincident with or following their date of hire. Part-time employees are enrolled once their 1,000 required hours are reached during their employment year.
Carnegie Mellon contributes an amount equal to 8% of your eligible base salary, unless you have a 9-month academic year appointment; then Carnegie Mellon contributes 9.78% of your academic year salary, paid over nine months. You are not taxed on university contributions at the time they are made. All contributions and their earnings will be taxable when you take a distribution. An additional penalty may be assessed if you withdraw funds prior to age 59½.
Vesting means that you own the funds that Carnegie Mellon has contributed on your behalf, as well as any earnings from those investments. If you separate from the university before you are vested, you will lose all university contributions and any earnings. Vesting under the CMU 401(k) Plan requires that you complete three years of service. You must complete 1,000 hours in each of three employment years. Your employment year begins on your date of hire and is not necessarily a calendar year. The 401(k) Summary Plan Description [pdf] outlines how hours are counted for exempt employees.
The three-year vesting period may be reduced or waived if, in the past five years, you performed sufficient services at another college/university and met certain participation requirements. For this service to be recognized for vesting purposes under the Faculty and Staff Retirement Plan or the CMU 401(k), you must complete the Prior Service Credit Request form [pdf] and return it to a Retirement Benefit Specialist at 4516 Henry Street. The university will then reach out to your former employer to verify the prior years of service.
You also become immediately vested if, while employed at the university, you:
Faculty members, staff members and student employees can elect to make their own contributions by payroll deduction by logging in to tiaa.org/carnegiemellon. Refer to TIAA's How to Access Your Account Online [pdf] for instructions.
You are always 100% vested in your own contributions.
Call TIAA at 800-842-2252.
Human Resources
Carnegie Mellon University is an Equal Opportunity Employer/Disability/Veteran.
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