No, there is no tax advantage to owning variable annuities or mutual funds in your TIAA-funded retirement plan. There are plenty of options and every investor is different. (1997-2020)B.A. (1978-2020)B.S., Denison U.; M.S., Baylor U.; Ph.D., Southern Methodist U. Reviewing your current investment mix to see if you need to rebalance your portfolio as you near retirement. Select a retirement plan and begin the enrollment process. Substance Abuse View All Clinical Trials General Inquiries Call today to schedule an appointment or fill out an online request form. This may be restricted by the terms of your TIAA contracts. ; M.M.S., U. of Notre Dame; Ph.D.,ibid. Roger Olson, Professor of Theology, Truett Seminary (1999-2021)B.A., Open Bible College; M.A., North American Baptist Seminary; M.A., Rice U.; Ph.D., ibid. Emeritus Faculty . The value of a variable annuity is subject to market fluctuations and investment risk so that, if withdrawn, it may be worth more or less than its original cost. Institution makes . (1979-1999)B.S. Any savings have the potential to help in the future, but ideally, you still should aim for 10-15% of your pre-tax income annually. B.A., U. of Michigan; M.A., ibid. Many employers offer contribution matching. ; Ph.D.,ibid. (1975-2017)B.F.A., U. of Kansas; M.F.A., Indiana U. Robert B. Kruschwitz, Ph.D., Professor of Philosophy. Thomas R Hunt, III, MD, DSc, FACHE Hand/Wrist/Elbow Surgeon - Educator, Author, Innovator - Fmr. If you're already enrolled, log in to your secure account from the login button at the top of the home page of this site. (BCM Login Required). Janice M. McCullagh, Ph.D., Associate Professor of Art History and Senior Faculty Member of the Albritton Art Institute. ; M.Div. Darryn Willoughby, Ph.D., Professor of Health, Human Performance and Recreation. ; Ph.D., Duke U. Vince Cronin, Professor of Geosciences (2002-2022)B.A., Pamona College; A.M., Dartmouth College; Ph.D., Texas A&M U. James Curry, Professor of Public Policy (1974-2021)B.A., Tarkio College; M.A., U. of Kansas; Ph.D., ibid. ; Ph.D., Rice U. William R. Trail, J.D., Professor and The Darrell L. Keith Professor Law and Medicine. Larry J. Browning, Ed.D., Professor of Curriculum and Instruction. (1976-2017)B.A., Washington U.; M.A.,ibid. Louisiana Tech U.; M.A., U. of Denver, Ph.D.; Indiana U. Ken-Hsi Wang, Ph.D., Professor of Physics. A set amount your beneficiary(ies) will receive from your retirement account if you die before taking income. Karl A. Umlauf, M.F.A., Professor of Art and Artist in Residence. Letter of Request from head of Academic Unit that includes a summary of the candidates contributions to the College, 2. (1963-1999)B.A., Sul Ross State College; M.A., Columbia U.; M.F.A., U. of Texas. Your plan may distribute your entire balance if the value does not exceed $2,000. Your right to a lump-sum distribution from your TIAA Traditional Account may be restricted to taking periodic payments under the terms of the contract. If your plan permits, you can withdraw some of the money you've put in over the years (but not earnings) due to financial hardship, such as medical or funeral expenses, while still employed. Member FDIC. After enrolling, you'll receive a TIAA Welcome Kit and a Legal Package including your contract and contract number. Consult an attorney or tax professional regarding your specific situation. (1956-1995)B.S., Auburn U.; M.A., U. of Alabama. (1966-2020)B.A., Baylor U.; J.D., ibid., L.L.M., U. of Michigan. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products. (1981-2008)B.A., Amherst College; M.A., U. of Massachusetts; Ph.D.,ibid. Review your Welcome Kit carefully to verify the information is correct, including investments and beneficiary information. Mary Ellen Davenport, M.S., Assistant Professor of Nursing. Prof. & Chair, Dept of Orthopedic Surgery Baylor College of Med and Chief Physician Exec, Baylor St . Robert Darden, Journalism, Professor of Journalism, Public Relations and New Media (1999-2022)B.A., Baylor U.; M.A., U. of North Texas. Wallace L. Daniel, Jr., Ph.D., The Ralph L. and Bessie Mae Lynn Professor of History. McCormick Theological Seminary; D. (2010-2020)B.S., Louisiana State U.; M.S., Purdue U.; Ph.D., U. of North Carolina, Greensboro. Investment in variable products is subject to the risks associated with investing in securities, including loss of principal. (1967-2014)B.A., U. of Texas; Ph.D.,ibid. Patricia A. Hickey, Ph.D., Associate Professor of Mathematics. (1966-2003)B.A., International Christian U., Tokyo, Japan; Ph.D., Yale U. James M. Warren, Ph.D., Professor of Engineering. Take advantage of your jobs retirement benefits. ; Ph.D.,ibid. (1989-2014)B.A., Duke U.; M.S., U. of Cincinnati; Ph.D., Texas A&M U. Eric C. Rust, Professor of History (1984-2022)B.A. Martin Medhurst, Distinguished Professor of Rhetoric and Communication (2003-2021)B.A., Wheaton College; M.A. Calvin B. Smith, M.S., Associate Professor of Museum Studies. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Who would benefit most from owning mutual funds? ; M.Div. For more information on fees and investments, refer to "Mutual Funds and In-Plan Annuities" via in a new window. Emeritus Faculty are nominated by their deans to the President through the Provost. ;ibid. For IRAs (other than Roth IRAs), your required beginning date is April 1 of the year following the calendar year in which you reach your RMD Applicable Age. Gerald R. Powell, J.D., Professor and the Abner V. McCall Professor of Evidence. (1962-2000)B.S., Baylor U.; M.S.,ibid. foundation of Medicarethe Emeriti Health Insurance Plan Optionsa range of plan options, including Medicare-approved Part D prescription drug coverage. Emeriti, TIAA-CREF, Savitz, Aetna Life Insurance Company, and HealthPartners are independent corporations and are not legally affiliated. Robert Cloud, Professor of Education Administration (1988-2021) B.S., Howard Payne College; M.S., Baylor U.; M.A., U. of Houston, Clear Lake; Ed.D., Baylor U. Linda R. Cobbs, M.L.S., Associate Professor, University Libraries. (1956-1989)B.A., Baylor U.; M.A., U. of Texas. Each is solely responsible for its own financial condition . Contributing even a small amount now can potentially make a big difference by the time you retire. This Plan allows employees to contribute pre-tax contributions through payroll deductions. What is the difference between a mutual fund and an annuity? (1989-2017).B.A., Baylor U.; M.R.E., Southwestern Baptist Theological Seminary; Ed.D., U. of North Texas. Contribute the maximum annual amount to your retirement savings. Located in the heart of the world's largest medical center (Texas Medical Center), Baylor is affiliated . By owning a combination of funds with different investment characteristics, you may be able to offset the poor performance of one asset class with another that is benefiting from an upward trend. Payments from variable accounts will fluctuate based on investment performance. If requested before 2 p.m. you will receive a response today. (1981-2014).B.A., Connecticut College; Ph.D., Yale U. Barbara L. Bennett, Ph.D., Professor of Music Education. To submit an abstract - Aug. 14, 2023 by 5 p.m. Poster Presentation - Sept. 15, 2023 This will help guide which investments you choose. (2004-2020)B.S., Tarleton State U.; M.Ed., ibid. James Breckenridge, Ph.D., Professor of Religion. E. E. Schroeder, M.Ed., Associate Professor of Health, Human Performance and Recreation. If you do not maintain a Retirement Choice and/or Retirement Choice Plus account and therefore no TIAA Plan Servicing Fee was assessed, your investment revenue share credit will be reduced by the amount of the fee inorder to cover plan administrative services expenses. Donald L. Hardcastle, Ph.D., Professor of Physics. (1976-2010)B.F.A., Bethany College; M.F.A., U. of Iowa. 3. ; Ph.D., U. of Texas. If you're married, you may be required to get spousal consent to receive any distribution option other than a qualified joint and survivor annuity. (1969-2011)B.S., U. of Texas, El Paso; M.M., U. of North Texas. Students. Jeffrey S. Powers, M.M., Professor of Instrumental Studies. Find out who to contact about enrollment or investing. Tell us about your future goals and well help you plan. (2000-2016)B.A., Georgetown College; Ph.D., U. of Texas. Ellen K. Brown, M.L.I.S., Associate Professor, University Libraries (1976-2010)B.S., Wayland Baptist College; M.A., Baylor U.; M.L.I.S., U. of Texas. (1985-2020)B.A., U. of California; M.S., ibid., Ph.D., ibid. (1997-2014)B.S., U. of Texas; M.S., Sacred Heart U.; M.Ph., Columbia U.; Ph.D.,ibid. The Baylor College of Medicine Archives mission is to preserve the history of Baylor College of Medicine and its predecessors the Fort Worth Medical Department and Baylor University College of Medicine (BUCM) in both Dallas and Houston. (1974-2010)B.S., Florida Atlantic U.; Ph.D., Florida State U. Marianna S. Busch, Ph.D., Professor of Chemistry. If your employer offers to match your contribution, make sure you save enough to trigger that match. As a Baylor Medicine patient, you'll have access to exclusive clinical trials, leading-edge procedures, and the brightest minds in medicineall working together to provide you with more options . More information about retirement plan fees and expenses is available at TIAA has partnered with ( in a new window) to offer a digital and secure way for you to fulfill notarization requirements for your forms. Contact your HR Benefits Office for additional information and assistance. William L. Pitts, Jr., Ph.D., Professor of Religion. Each is solely responsible for its own financial condition and contractual obligations. Rayzor Lounge, Noon-3 p.m. Research Compliance Services offers educational opportunities forindividuals engaged in research at Baylor, from those new to research to seasoned investigators, and anyone needing a "refresher," or an update on current regulatory or institutional requirements. You can put money away for retirement while saving on taxes. Helen E. Benedict, Ph.D., Professor of Psychology. Tenured professors who have served the College with special distinction at BCM for at least 10 years may be eligible for the position of "Distinguished Emeritus" Professor upon retirement and upon recommendation of the head of the Academic Unit in which the candidate has his or her primary appointment and formal action of the Faculty Appointments and Promotions Committee, the Academic Council, the President, and the Board of Trustees. Frauke A. Harvey, Ph.D., Professor of German, Russian and Japanese. Emeriti Retirement Health Solutions is not an insurance company, insurance broker or insurance provider. Learn about the investment options and plan basics - including eligibility - of each retirement savings plan offered by your employer. Your own Plan account may earn more or less than this example. (1990-2015)B.A., Wichita State U., M.A., Western Washington State U.; Ph.D., U. of Illinois. Franklin Potts, Professor of Finance (1968-2021)B.B.A., Baylor U., M.S., ibid. ; M.F.A., Cranbrook Academy of Art. One- or two-life annuity with guaranteed period, Qualified Domestic Relations Orders (QDRO), Sales charges, purchase, withdrawal and redemption fees for certain investments. (1978-2002)B.S., Indiana U.; M.B.A.,ibid. If your plan allows, you can choose to receive regular income payments (minimum $100) on a semimonthly, monthly, quarterly, semiannual or annual basis. Emeriti, TIAA-CREF, Savitz, Aetna Life Insurance Company, and HealthPartners are independent corporations and are not legally affiliated. Consider adding annuities1 to your retirement plan so you can create a foundation of guaranteed monthly income for life when you stop working. ; Ed.D., Texas Womans U. Patrick L. Odell, Ph.D., Professor of Mathematics. You can increase, decrease or suspend the payments at any time. (2000-2020)B.A., Austin College; M.M., Cleveland Institute of Music. (1970-2005)A.B., Washington U.; B.D., Eden Theological Seminary; M.A., State U. of New York; Ph.D., Cornell U. John C. Flynn, Ph.D., Professor of Psychology and Neuroscience. If you need some of your retirement savings in cash, you can withdraw your TIAA Traditional Account balance through a Transfer Payout Annuity (TPA) under the terms of the contract. (1969-2009)B.A., Baylor U.; M.S.W., Louisiana State U; Ph.D., Texas Womans U. Donald R. Edwards, Ph.D., Professor of Management. ; M.S.,ibid. Withdrawals of earnings are subject to ordinary income tax plus a possible federal 10% penalty if made before age 59. The Academy of Distinguished Educators sponsors two events a year: Annual Academy of Distinguished Educators Showcase of Educational Scholarship, Norton Rose Fulbright Educational Grant Fund. Strategic Plan 2024-2028; Strategic Plan 2012-2017; Strategic Plan 2006-2011; Informatics and Information Technology Strategic Roadmap; . (1990-2001)B.A., Baylor U.; M.A.,ibid. You can also contact us online. If you are an eligible classification, you automatically become a participant in the Plan when you reach age 18 and have completed 1 hour of service. Its California Certificate of Authority number is 3092. (1979-2009)B.A., Grove City College; M.A., American U.; Ph.D., Duke U. David L. Rivers, Ph.D., Professor of Communication Sciences and Disorders. I have a form requiring notarization. ; Ph.D., Louisiana State U. Tom Potts, Professor of FinanceB.B.A., Baylor U.; M.S., ibid. This will be identified as "TIAA Plan Servicing Credit" on your statements. Mary Margaret Shoaf, Ph.D., Associate Professor of Mathematics. If requested before 2 p.m. you will receive a response today. You may have access to these products when you choose your options in enrollment. Wickramasinghe Ariyasinghe, Associate Professor of Physics (1988-2021).B.S., U. of Sri Lanka; M.S, Bowling Green State U.; Ph.D., Baylor U. David M. Arnold, Ph.D., Professor and the Ralph Jean Storm Professor of Mathematics. Tenured professors with at least one year of service at BCM and tenured associate professors with at least 10 years of service at BCM and who have remained on active status until retirement may be eligible for "Emeritus" appointment upon retirement following recommendation by the head of the Academic Unit in which the candidate has his or her primary appointment and upon formal action by the President and the Board of Trustees. John S. Belew, Ph.D., Professor of Chemistry and Provost Emeritus. ; Ed.D., U. of North Texas. F. Eugene Tidmore, Ph.D., Professor of Mathematics. Emeriti Retirement Health Solutions is not an insurance company, insurance broker or insurance provider. The amount you withdraw will reduce your lifetime annuity income accordingly. Krassimira Jordan, Professor of Piano (1989-2021)Diploma, Sofia Conservatory of Music; M.M.A., Vienna Academy of Music and Dramatic Arts. Interests in the retirement healthcare program are offered solely by the employer. (1971-2001)B.A., Howard Payne College; M.A., U. of Oklahoma; Ph.D.,ibid. Elizabeth S. Githens, M.A., Professor of English. These costs are allocated to each participant in a uniform way. (1965-2000)B.M., Indiana U.; M.M.,ibid. (1998-2017)B.S., Louisiana Tech U.; M.B.A.,ibid. William Jordan, Professor and Chair of Mechanical Engineering (2005-2021)B.S., Colorado School of Mines; M.S., ibid. Mungello, Ph.D., Professor of History. ; Ph.D., U. of Florida. Joseph F. Vlez, Ph.D., Professor of Spanish. (1978-2018)B.S., Louisiana State U.; J.D., ibid; M.S., ibid. Other benefits may be available, such as pre-tax and tax-deferred contributing, which could help maximize your savings. Faculty Senate. D.E. Taxes and penalties may apply. For financial guidance, call 800-842-2252 to speak to a TIAA financial consultant. Fidelity does not provide legal or tax advice. A mutual fund is a pool of securities, such as stocks and bonds, managed by an investment company. Dennis ONeal, Professor of Mechanical EngineeringB.S., Texas A&M U.; M.S., Oklahoma State U.; Ph.D., Purdue U. Manuel J. Ortuo, Ph.D., Professor of Spanish. However, payments from CREF and TIAA variable annuities are not guaranteed and the payment amounts will rise or fall depending on investment returns. If requested before 2 p.m. you will receive a response today. ; Ph.D., U. of Kansas. Call 713-798-1000 Monday - Friday 8 a.m. - 5 p.m. ONLINE Request Now Request non-urgent appointments Find a Physician ; Ph.D., U. of Texas. (1981-2011)B.S.N., Northern Illinois U.; M.S.N., U. of Tennessee, Knoxville; Ph.D., U. of North Texas. I have a form requiring notarization. Don Greene, Professor of Geosciences (1979-2022)B.S, Texas A&M Commerce; M.S., U. of Oklahoma; Ph.D., ibid. Make a selection before beginning enrollment. Endowed Chairs and Professorships. For more information about the terms of your individual contract, contact your plan sponsor or financial advisor. (1970-2015)B.A., U. of Texas; M.A.,ibid. ; Ph.D., U. of Georgia. How can I see my accounts and perform transactions online? The office is committed to fostering an environment in which faculty can develop, succeed, and realize their full professional potential. David L. Jeffrey, Ph.D., Distinguished Professor of Literature and the Humanities. The Office of Faculty Affairs & Faculty Development provides learning programs, conferences and other resources for Baylor faculty members. Both options receive favorable tax treatment under the plan. ; Ph.D.,ibid. Faculty Affairs & Development organizes workshops on topics such as teaching in different environments, communication skills, curriculum design and more. (1957-1988)B.A., Mississippi College; M.A., Vanderbilt U.; Ph.D.,ibid. Roger L. Keyes, M.M., Professor of Piano. The City College of New York 160 Convent Avenue New York, NY 10031 p: 212.650.7000. There are a number of important differences between mutual funds and annuities when they are offered under a retirement plan. You must begin taking minimum distributions from your IRAs and employer retirement plan accounts by your required beginning date (or retirement, if later for employer retirement plan accounts). (1984-2018).B.A., U. of California, San Diego; M.Div. During enrollment, once you choose your contribution amount, you can direct your contributions to a range of investment options. Emeriti Retirement Health Benefit. those enrolled in Medicare but not collecting Social Security (1978-1980 1980-2019)B.S., Baylor U.; M.S., Kansas State U.; Ph.D.,ibid. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. Investing in this manner does not ensure a profit or guarantee against loss in declining markets. If you were born in 1959, federal guidance is needed to determine if your RMD Applicable Age is 73 or 75. Emeriti, TIAA-CREF, Savitz, Aetna Life Insurance Company, and HealthPartners are independent corporations and are not legally affiliated. All persons holding a current Baylor College of Medicine academic appointment (medical, graduate, and postdoctoral students, residents, fellows, staff, and faculty, etc.) Its California Certificate of Authority number is 6992. (1978-2011)B.S., U. of Texas; M.A.,ibid. (1974-2006)B.M., U. of Illinois; M.S.