Priest Retirement
403b Investment Accounts
and Priest Pension (scroll to bottom left)

The current 403b plan with TIAA is for Archdiocese priests only.
Lay employees with past Archdiocese 403b plan investments may roll them over to TIAA, (contact information below) or leave them with the investment companies they currently have.
Priests who are interested in rolling over their previous VOYA/ING or LINCOLN 403b accounts to TIAA will need to contact TIAA and VOYA or LINCOLN to initiate the rollover of their funds, (contact information below).

BASE: As part of a priest's compensation, the parish or institution, in which he is employed, is required to contribute $125 semi-monthly to the priest's 403b TIAA account.  This Base Contribution is from the parish.  
VOLUNTARY: Priests are encouraged to make additional Voluntary 403b Contributions which are deducted  from their semi-monthly pay. A salary reduction agreement should be completed.
SALARY REDUCTION AGREEMENT: This form is required to be filled out by all priests to indicate if the Priest has accepted or waived the VOLUNTARY 403b contribution.  Keep this signed agreement at your location for audit purposes.

Fees; Annual TIAA fees are a minimum $48.00; $12.00 a quarter and an additional .48 to .52 of a percent for the Investing for Catholic Target Date funds, depending on your portfolio.
403b accounts are qualified retirement accounts subject to early withdrawal tax penalties before age 59&1/2.

Yearly Contribution Maximums

Federal law imposes a limit on the amount individuals may contribute to their 403(b) accounts on a yearly basis. 

2019:
$19,000 - the annual maximum for individuals younger than age 50.  
$6,000 additional catch up for an annual maximum of $25,000 for individuals age 50 and older.

2018:
$18,500 - the annual maximum for individuals younger than age 50.  
$6,000 additional catch up for an annual maximum of $24,500 for individuals age 50 and older.

This limit is subject to increase or decrease each year.  If your location uses a payroll service, it is likely that the payroll service will automatically stop withholding contributions from an employee's pay check once that employee has reached the annual maximum, but check to be sure. 

How to enroll for voluntary contributions:

You will not enroll through Dayforce.  Complete the Salary Reduction Agreement and submit it to your payroll administrator.  You will fill in a flat rate amount that should be deducted from each semi-monthly payroll. This amount can be changed at anytime.   403b Salary Reduction Agreement

IMPORTANT: Be sure to select a beneficiary - 403b Beneficiary Form
submit this form to TIAA, keep a copy for your files and send a copy to the Chancery for your employee file in HR.

Other 403b Facts you need to know:
- Employee Federal Taxes:
403b Contributions are subject to FICA, (Social Security & Medicare taxes), but not Federal, State or Local Income Taxes. 
- W2 Forms: The Pension box should be checked for any priest who makes a Voluntary contribution and/or who receives the Employer  Contribution.  You are not required to report any 403b employer contributions on the priest pay stubs or W2s.  You will not need to report the priest's 403b voluntary deductions on any other Federal or State Employer Tax Reports. The Employer contributions will be reported to the IRS by the Archdiocese offices.
- The 403b Plan is not available to Lay Employees.  
Information on the previous (ended 2014) Lay 403b companies are below.

403b Brochures:
Investing for Catholics investment Brochure
Investing for Catholics Target Funds Brochure

 

Contact Information:

TIAA Customer Service: 800-842-2252
Lay Plan #406426 or Priest Plan #406869
www.tiaa.org 

Investing for Catholics:
949-428-0432
Relationship Consultant - Mary Brunson, Vice-president
mary@ifa.com 

Priest Pension Information:

Current Summary Plan Description

TIAA Local Offices:

You can request a meeting with a TIAA certified financial advisor at a TIAA local office.

Overland Park Office – 913-906-3900
7101 College Blvd., Suite 330
Overland Park, KS 66210 

Lawrence Office – 866-842-8604
4910 Corporate Center Drive, Suite 101
Lawrence KS 66047 

Death of an Employee or Priest:
Surviving family should call
TIAA BRT/Benefit Relationship Team 888-380-6428
Lay Plan #406426  or  Priest Plan #406869

 

Previous 403b Companies:
Note:  If you have a 403b VOYA or LINCOLN Account, you can request to have it rolled over to TIAA. Contact Voya or Lincoln and TIAA for the required paperwork for the rollover.  Distributions without penalties can be requested after retirement. Distributions are considered income and are taxable for the year they are received.

VOYA - formerly ING

Mark Hugunin
(913) 661-3765 or (800) 814-1643

mark.hugunin@voyafa.com

LINCOLN
Archdiocese Contract # 891526+006
Plan ID 2462 - use Plan ID for PIN
ER ID 2593-001
Customer Service:
800-454-6265; balance, rollover requests, etc.
Catholic School Clients:
800-341-0441