Eastern Michigan University

Human Resources

direct edit
Benefits

Develops, implements, counsels and enrolls all faculty and staff in specific benefit programs. Processes all benefit claims. Administers the employee tuition waiver program. Administers all University retirement programs and processes tax deferred annuity plans.

Human Resources people

 New Retirement Planning Workshops

2014 Horizons - For employees within 2 years of retirement

The April 11, 2014 workshop is full.  It will be offered again next Spring.

 

How Healthy Are You, Financially?

No one wants to run out of money in retirement, but many Americans approaching retirement today are facing a savings shortfall. Keeping "fiscally fit" is more important than ever before. TIAA-CREF offers "Your Personal Financial Organizer" which includes financial wellness tips, tools and checklists to help you better organize your finances and plan for your future. Get yourself a financial checkup and Download Your Personal Financial Organizer.

 

Loan Administration Procedures from 403 (b) Voluntary Retirement Plan

  1. The employee must have a Group Supplemental Annuity, 403 (b), in place before applying for a loan.
  2. The employee must contact TIAA-CREF at 1-800-842-2776 to request a loan.
  3. TIAA-CREF will verify if the employee is eligible for a loan based upon outstanding loan balance and account fund availability.
  4. After availability verification, TIAA-CREF will provide the employee with a loan application.
  5. The employee must complete the loan application and have a designated person in the Benefits Office sign off on the application.
  6. The employee then submits the application to TIAA-CREF

Hardship Withdrawal Administration Procedures from 403 (b) Voluntary Retirement Plan

  1. The employee must have a Group Supplemental Annuity, 403 (b), in place before applying for a hardship.
  2. Employees must apply for a loan and be turned down prior to requesting a hardship withdrawal.
  3. The employee must contact TIAA-CREF, at 1-800-842-2776, in order to request the loan/hardship, whichever is applicable.
  4. Hardships are issued for mortgage payments, taxes, medical payments, funeral expenses and for post secondary college (Employee & Dependents).
  5. TIAA-CREF will verify if the employee is eligible for a loan based upon outstanding loan balance and account fund availability. If the employee is not eligible for a loan, then a hardship can be processed. If the employee is eligible for the loan, please see Procedures for Loans.
  6. After availability verification, TIAA-CREF will provide the employee with the hardship application.
  7. The employee must complete the hardship application and have a designated person in the Benefits Office sign off on the application.
  8. The employee then submits the application to TIAA-CREF.
  9. Upon receiving the notification from TIAA-CREF of the hardship approval, the Benefits Office will end the employee's voluntary 403 (b) supplemental retirement deduction in Banner and then set it up to begin again in six (6) months