Defined Contribution Retirement Plan
Regular staff and faculty who are otherwise eligible for benefits and who have completed at least one year of service are enrolled in the Cornish College of the Arts Defined Contribution Retirement Plan. Plans are available through TIAA-CREF and/or Fidelity Investments. Upon your enrollment, the College contributes the equivalent of 8% of your gross wages to the retirement plan that is invested according to your designation.
Tax-Deferred Retirement Annuity Plan
The College also offers you the opportunity to voluntarily save and invest for your retirement and reduce your taxable income through a Tax-Deferred Retirement Annuity plan. Plans are available through TIAA-CREF and/or Fidelity Investments. Upon hire, and anytime thereafter, benefits-eligible employees may participate in the supplemental retirement annuity investment program. Tax deferred contributions are made by you to the plan and reduce your current taxable income. Taxes are paid on this portion of your income when you take a withdrawal or distribution.
You may change your investment options and your beneficiary designation by contacting the vendor(s) directly. Cornish College does not contribute to this plan.