Retirement Plan

Human Resources

UCAR Retirement Plan

The UCAR Retirement Plan is a 403(b) retirement plan through TIAA (Teachers Insurance and Annuity Association).

Employees with terms of six months or more must participate in the RA as a condition of employment and are automatically enrolled in this contract.  Upon entry into the program, the annuities are fully vested with the employee.  UCAR's contribution is 10% of base salary and the employee contributes a minimum of 5% salary.  All contributions are made with pre-tax dollars.

Employees may elect to make additional contributions over the mandatory 5%.

There are two types of annuities, the Mandatory Retirement Annuity (RA) and the Group Supplemental Retirement Annuity (GSRA) (Tax Deferred Annuity Plan).  Please go to these links for important information about each annuity.

TIAA is a Fortune 100 financial services company and a leading provider of retirement benefits nationwide.

Today, financial security is an urgent national concern, and individuals and institutions looking for a trusted partner increasingly rely on TIAA for a unique combination of advantages:

• Long-term investment performance.1

• An insurance company affiliate that holds the highest ratings currently awarded from all four leading independent insurance industry ratings agencies.2

• Prudent risk management, diversified investment options, personalized, objective advice, and guaranteed lifetime income3 — all at some of the most competitive fees in the industry.4

To learn more about TIAA and to ENROLL in the UCAR Retirement Plan, please visit the TIAA microsite.

To better assist you in understanding your personal investment choices and contribution allocations and to financially plan for your future, UCAR offers monthly on-site sessions with a TIAA representative. Please avail yourself of this very important and informative resource!

1 Past performance cannot guarantee future results.
2 For its stability, claims-paying ability and overall financial strength, TIAA-CREF Life Insurance Company is a member of one of only three insurance groups in the United States to hold the highest rating available to U.S. insurers from three of the four leading independent insurance company rating agencies. TIAA-CREF Life Insurance Company (TIAA Life) is a wholly owned subsidiary of Teachers Insurance and Annuity Association of America (TIAA). TIAA Life holds the following ratings as a result of its relationship with TIAA: A.M. Best (A++ as of 6/17), Fitch (AAA as of 11/17), and Standard & Poor's (AA+ as of 8/17), and the second highest possible rating from Moody’s Investors Service (Aa1 as of 2/18). There is no guarantee that current ratings will be maintained. The financial strength ratings represent a company’s ability to meet policyholders’ obligations and claims and do not apply to variable annuities or any other product or service not fully backed by TIAA Life’s claims-paying ability. The ratings also do not apply to the safety or the performance of the variable accounts, which will fluctuate in value.

3 Guarantees are based on the claims-paying ability of TIAA. This applies to annuity products only. Annuity account options are available through contracts issued by TIAA or CREF. These contracts are designed for retirement or other long-term goals, and offer a variety of income options, including lifetime income. Payments from the variable annuity accounts [and mutual funds] are not guaranteed and will rise or fall based on investment performance.

4 80% of TIAA-CREF mutual fund products and variable annuity accounts have expense ratios that are in the bottom quartile (or 98.14% below median) of their respective Morningstar category. Source: Morningstar Direct  (12/31/17).

The information on this benefit enrollment site is available to assist you in enrolling in your benefits. However, it is not intended to take the place of the official plan documents that govern each program. The Summary Plan Description contains details of all UCAR benefits. In the event of a conflict, the official plan documents will govern. To change your current UCAR Retirement Plan contribution, please complete the TIAA Election Change Form.

If you have enrollment questions, please contact Alyssa Fronk 303-497-8710.

View the Retirement Plan Contract types and Contributions

Visit the TIAA microsite to enroll

View the monthly on-site TIAA counseling sessions site




Last updated by lcarr on April 9, 2018 - 11:49pm.
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