Retirement Health Benefit

For employees hired before April 1,2003 who retire after July 1, 2008

The University will provide up to a total of $35,000 for you (and an additional $35,000 for your spouse) toward your health care at retirement. The University will make contributions in annual incremental contributions to a TIAA Retirement Health Plan (RHP) Money Market Fund, until the $35,000 has been exhausted. (Funds are available in annual increments only.) Plan Overview

These funds are to be used for reimbursement of premiums paid for Medicare Supplement Plans, Medicare Part D prescription drug premiums, Medicare Part B premiums, and other medical expenses that are incurred in retirement.

The TIAA RHP is a tax-advantaged plan with administrative services provided by TIAA and ConnectYourCare, a third party claims processor. 

What is a HRA (Health Reimbursement Arrangement)? (click for video)

For Employees hired on or after April 1, 2003

The University makes monthly contributions to the TIAA Retirement Health Plan (RHP) on behalf of all full-time employees who have attained age 40 and have completed two years of benefits eligible service. The University contributions, along with any voluntary after tax contribution you make, are invested through TIAA. These funds are directed into the TIAA LifeCycle Funds that closest meets the year of your 65th birthday. Plan Overview

The TIAA RHP provides a tax advantaged way to invest and accumulate assets to pay for your insurance premiums and other health expenses in retirement with investment and administrative services provided by TIAA and ConnectYourCare, a third party claims processor. 

An employee will become 100% vestd in the University's contributions once they become retirement eligible (59.5 with a minimum of ten consecutive years of full-time, benefits eligible service).