Banner

Changes to TIAA Retirement Accounts

Your union would like to make you aware of some changes to TIAA retirement accounts that happened in July of 2024.

What happened?

In July of 2024, TIAA reallocated retirement accounts for employees at the college into a fund managed by TIAA. Employees who selected “email” as their communication preference were notified about this change through a letter that was uploaded to their TIAA inbox, but there was no email notification that the letter was there. If you have a retirement account with TIAA and also have curated your portfolio to your preferences, you should check your TIAA account to determine if your account was changed and take action to adjust it if necessary. 

How do I know if this affects me?

Here’s how you can tell if you have an automatic deduction in your paycheck that goes to TIAA:

  • Login to ctcLink.
    Click on HCM Self-Service > Payroll > Paychecks and select your latest paycheck.
  • Look for a section on your paycheck called BEFORE-TAX DEDUCTIONS.  If you have a line item called SBRP (TIAA-CREF), then you are contributing part of your paycheck to a TIAA account.
  • Look for a section on your paycheck called AFTER-TAX DEDUCTIONS.  If you have a line item called SBRP (TIAA-CREF), then you are contributing part of your paycheck to a TIAA account.

What can I do about it?

Here are some steps you can take.

  • Login to your TIAA account and verify that your investment portfolio is arranged to your preferences. If you’re unsure about how to login, contact TIAA at 800-842-2252.
  • If you want your portfolio restored to the state it was before the change, contact TIAA at 800-842-2252 and request this change. You will need to lodge an official complaint with TIAA. 
  • Contact HR at Benefits@edmonds.edu with any questions. 

UPDATE: 11/18/2024

Representatives of the SBCTC have been contacted about this issue and they will be following up with TIAA to discuss the lack of communication surrounding these changes to retirement accounts.  If you would like to contact the SBCTC with questions, you can contact Julie Huss at jhuss@sbctc.edu.

Share This