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Employee Benefits

Office of Human Resources

 

Retirement Vendor Schedules


Empower Financial Logo

Tim Crawford
423-341-3088
tim.crawford@empower-retirement.com

October 2 - 4

November 6 - 8


TIAA CREF Logo

Andrew Hall
1-866-843-5640
anhall@tiaa-cref.org

September 25

September 26

October 30

October 31

November 1

December 4

December 5

December 6


Valic Logo

Mike Middleton / Justin Copp
423-341-8202 / 423-930-4612
mike.middleton@valic.com
justin.copp@valic.com

September 18 - 20

October 16 - 18

November 13 - 15

 


Voya Financial Logo

Deborah Perry
423-747-9213
deborah.perry@voyafa.com

October 9 - 11

 

 

Retirement Vendor Schedules


Empower Financial Logo

Tim Crawford
423-341-3088
tim.crawford@empower-retirement.com

October 2 - 4

November 6 - 8


TIAA CREF Logo

Andrew Hall
1-866-843-5640
anhall@tiaa-cref.org

September 25

September 26

October 30

October 31

November 1

December 4

December 5

December 6


Valic Logo

Mike Middleton / Justin Copp
423-341-8202 / 423-930-4612
mike.middleton@valic.com
justin.copp@valic.com

September 18 - 20

October 16 - 18

November 13 - 15

 


Voya Financial Logo

Deborah Perry
423-747-9213
deborah.perry@voyafa.com

October 9 - 11

 

Save for the future and let your retirement representative assist you! See the dates below that the retirement vendors will be available for one-on-one counseling. Contact your vendor representative for an appointment or schedule your  appointment online.

If you are not sure which vendor you may have, you can go through GoldLink and verify by looking at your vendor for “Retirement Plan” under the “My Employee Info” tab. Empower handles Tennessee Consolidated Retirement System (TCRS) and you can view your statement by setting up your account online at https://mytcrs.tn.gov.


Retirement Plans

All regular, full-time employees participate in one of the state of Tennessee’s retirement plans. Faculty and administrative employees have two plan options to choose from. Be sure to review your options carefully so that you are comfortable with your choice.

Tennessee Consolidated Retirement System (TCRS) Overview

The Hybrid Plan, also know as the Tennessee Consolidated Retirement System (TCRS), is a combination of a defined benefit plan and a defined contribution plan. The defined benefit plan is funded by the employer providing a 4% contribution above and beyond salary and a 5% pre-tax contribution by the employee. This 9% is managed by the Tennessee Consolidated Retirement System (TCRS). There is a five-year vesting period for the amount contributed by the employer.  The defined contribution plan is funded by the employer providing a 5% contribution. This 5% is managed by the employee under an agreement with Empower Retirement Services. Non-exempt employees are required to use this Plan.

Optional Retirement Plan (ORP) Overview

The Optional Retirement Plan (ORP) is a defined contribution plan.  The plan is funded by the employer providing a 9% contribution above and beyond salary and a 5% pre-tax contribution by the employee.  This 14% is managed by the employee under an agreement with TIAA-CREF, VALIC, and/or VOYA.  The employee may participate in one, two, or all three and can transfer between companies. The vesting period is immediate for all contribution.

Tennessee Optional Retirement Plan website

Both plans have a Defined Contribution component, which is funded by a 2% pre-tax, automatically deferred, contribution made by the employee.  This 2% is managed by the employee under an agreement with Empower Retirement Services.  The employee may elect to contribute more than 2% up to the maximum IRS limit. If the employee elects not to defer the 2%, Empower must be notified within 30 calendar days by the prescribed method from the date of hire.  In addition, the employer will match up to $50 per month into the defined contribution plan on behalf of the employee.  The vesting period is immediate for all contributions into the defined contribution plan.

Deferred Compensation Program website.

In summary, retirement funding is the same for both plans. The employer contributes 9%, above and beyond salary, into the employee’s account and the employee contributes, pre-tax monies, totaling 7%. This is a total of 16% being placed into the employees retirement account for the future.


Optional Retirement Offering

Under current tax law you are permitted to put aside a portion of your gross income and defer paying taxes on that income and the interest it earns until such a time as you actually receive the funds (generally upon retirement). Higher education employees who wish to set aside supplemental retirement savings may make salary reduction contributions to a 403(b), 401(k), or 457 plan. Post-tax deductions can be made to the state's Roth 401(k) plan.

Enrollment in these programs is voluntary and the decision to participate resides solely with each employee. Vendors for these plans are: TIAA-CREF, Valic and Voya. ETSU does not endorse any specific plan and serves only as an intermediary to enable employees to defer a portion of their pre-tax earning through a series of routinely scheduled salary reductions.

Employees are offered several tax-deferred annuity plans to allow savings for retirement on a tax-deferred basis.  Contributions to these plans are made through regular payroll deductions. Salary set aside through these plans cannot be withdrawn before the employee is separated from service except under a few limited circumstances.  Participants in these plans are permitted to direct their contributions among a variety of investment options.

To participate, contact Jodi Epps at 439-6126 for a packet specific to your chosen vendor.


Retiring from ETSU

Retirement can be both a scary and exciting experience. The Office of Human Resources is here to help you transition into retirement without the worry. After working the majority of our lives, most people ask, “I’m ready to retire; where do I begin?” The best place to begin your retirement journey is by contacting our office and scheduling an appointment to discuss your benefits at least 4 months prior to your potential last working day.  This meeting will be for informational purposes only to assist you in your decisions. Depending on which retirement plan you participate in and other factors, we will make your transition into retirement as smooth as possible.

Retirement Planning On-Line Calculators


Retiree Benefits

Eligible employees, who meet the qualifications, may continue insurance coverage at retirement for themselves and their covered eligible dependents. Visit the Partners for Health-Continuing Insurance at Retirement website for more information.

Additionally all retired employees and their spouses and spouses of deceased employees are eligible for membership in the ETSU Retirees Association. Former employees with five or more years of service at the university who are retired from other institutions or businesses are also eligible for membership with their spouses.

ETSU Retirees Association website

 

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