A future as bold as your landscape

Transcription

1 A future as bold as your landscape THE UNIVERSITY OF PENNSYLVANIA RETIREMENT PLAN GUIDE

2 Contents Retirement savings plans...4 Investment funds...7 Prior service credit...12 Contact information...14 University of Pennsylvania Retirement Plan Guide 2

3 Plan with confidence Penn is found where culture meets education. Your community, rich with diverse architecture, art and spirit, to help you plan for the future. The University of Pennsylvania Retirement Plan Guide 3

4 The Penn Retirement Savings Plans BASIC PLAN MATCHING PLAN SUPPLEMENTAL PLAN Eligibility Plan Entry Date* please refer to page 12 to see if you qualify for prior service credit eligible position complete 1 year of service. You must be at least 21 years of age to participate in this plan. You may start contributing immediately. eligible to participate, except for the employees, student Immediate Contribution Types University contributions only Voluntary pretax or Roth, and University matching contributions Voluntary pretax or Roth Vesting your ownership of Penn s contributions (does not apply to employee contributions) service. If you separate from service before you vesting in these plans. See page 13 for more information. Plan-to-Plan Transfers Rollovers provider for details. for details. Investment Options TIAA and Vanguard see page 7 TIAA and Vanguard see page 7 TIAA and Vanguard see page 7 Enrollment Contact the Retirement Call Center at , or enroll online at retirement Contact the Retirement Call Center at , or enroll online at retirement Contact the Retirement Call Center at , or enroll online at retirement See page 13 for more information. 4 The University of Pennsylvania Retirement Plan Guide

5 BASIC PLAN MATCHING PLAN SUPPLEMENTAL PLAN Investment Education TIAA Vanguard , ext Loans No No Yes through TIAA only Hardship Withdrawals No No IRS regulations Accessing Your Money While Employed at Penn you reach age 59½, or if you start receiving bene- Accessing Your Money After Separating From Service* Distributions are generally permitted upon completion of your separation from service, becoming a retiree or upon death.

6 Investments as unique as you are it easier for you to choose an investment mix to meet your University of Pennsylvania Retirement Plan Guide 6

7 Penn Retirement Savings Plans investment funds You can select a combination of funds from any or all of the and change your investment elections for future contributions at any time. For information regarding fees relating to these investment funds, please visit Tier 1: Target Date/Lifecycle funds Do-it-for-me investors These funds are designed to give you a simple solution to saving for retirement. from aggressive to conservative as you near your selected retirement date. TIAA VANGUARD Vanguard Target Retirement Funds University of Pennsylvania Retirement Plan Guide 7

8 The Penn Retirement Savings Plans investment funds continued Tier 2: Core funds Help-me-do-it investors fund options to build a balanced portfolio. Your overall investment mix is up to you, TIAA VANGUARD Tier 3: Supplemental funds I ll do it investors targeted and active role in investing. The menu of funds covers a variety of asset classes to help you build a portfolio that meets your individual retirement needs meet your retirement goals. ASSET CLASS TIAA VANGUARD Short-Term Fixed Income Intermediate-Term Fixed Income TIAA Traditional Account Account Short-Term Investment-Grade Fund Intermediate-Term Bond Index Fund Intermediate-Term Treasury Fund 8 University of Pennsylvania Retirement Plan Guide

9 ASSET CLASS TIAA VANGUARD Long-Term Fixed Income Fund Long-Term Treasury Fund Large-Cap Stocks Value Fund Institutional Index Fund Value Index Fund Windsor II Fund Windsor Fund Mid-Cap Stocks Value Fund Selected Value Fund Capital Opportunity Fund Small-Cap Stocks International Stocks Small-Cap Index Fund Small-Cap Value Index Fund International Value Fund Specialty Assets Account Fund High-Yield Corp Bond Fund Balanced (U.S. Stocks and Bonds) Wellington Fund Wellesley Income Fund University of Pennsylvania Retirement Plan Guide 9

10 The Penn Retirement Savings Plans investment funds continued Tier 4: Brokerage option Self-directed investors depend on your investment carrier and the actual funds you select. choosing this option. TIAA options, call VANGUARD For more information on Vanguard University of Pennsylvania Retirement Plan Guide

11 You can select a combination of funds from any or all of the investment tiers. University of Pennsylvania Retirement Plan Guide 11

12 Prior service credit Previous employment at Penn or the University of Pennsylvania Health System (UPHS) Please go to for more information. To apply for prior service credit, please go to 12 University of Pennsylvania Retirement Plan Guide

13 Vesting on your hire date. least three years. This means that if you leave Penn before completing three Please go to University of Pennsylvania Retirement Plan Guide 13

14 Contact information FOR INFORMATION ABOUT General plan provisions Plan eligibility Distribution options Investment allocation options Rollovers Distribution options CONTACT University of Pennsylvania Retirement Call Center TIAA Vanguard University of Pennsylvania Retirement Plan Guide

15 What to expect regarding fees and expenses reserves the right to amend the Plans in the future. discriminate on the basis of race, color, sex, sexual orientation, gender identity, status, or any other legally protected class status in the administration of its administered programs or in its employment practices. or University of Pennsylvania Retirement Plan Guide 15

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