PLAN INFORMATION

Ithaca College offers this plan as part of workplace benefits. Now is a great time to understand what is offered - think about taking advantage of any opportunities to save and invest for the future.

Learn what plans allow eligible employees to do.

What contribution options are available?

Contributions to your Emeriti Health Account will begin in accordance with your institution's plan. Employer contributions and earnings accumulate tax free and are not taxable when paid out in retirement. Employee contributions are made on an after tax basis; all earnings accumulate tax free, and are not taxable when paid out in retirement.

Once your employer and/or employee contributions begin, you can monitor and change your investments online via the TIAA website.

Who can participate in this plan?

If eligible, you have been automatically enrolled in the Emeriti Plan.

When are new employees vested?

“Vesting" refers to an employee's right to receive benefits from the retiree health plan after termination of employment.

Your employer’s contributions (and any earnings attributable) may be subject to an age /or service requirement. Your employer’s plan rules will specify when you are vested in the employer portion of your account. If you terminate employment after satisfying the age and/or service requirement, you will be fully vested in your account. If you terminate employment prior to meeting the age/or service requirement, the employer portion of your account will be forfeited. Employee contributions (and any earnings attributable) will be fully vested and accessible upon termination of employment.

Upon termination of employment, you may access your vested benefits to pay for out- of- pocket medical expenses for you, your spouse, and/ other eligible dependents (if any).

Please note: Retiree health benefits do not pass to your estate upon your death. Any remaining vested account balance will be accessible to your spouse /or other eligible dependents (if any). If you do not have a spouse or eligible dependents (or upon their death) any remaining vested account balance will be forfeited. This includes any employee contributions (and earnings attributable).