[ Human Resources ]

HR News & FAQs

October 29, 2009

News

Roth 403(b) Start-Up
Recently the College added the Roth 403(b) option to our Tax-Deferred Annuity Plan.  This option allows you to make a personal, after-tax, payroll contribution to your retirement fund.  The ultimate impact of the Roth 403(b) option is that you will be able to use those funds during your retirement without the burden of being taxed on your contribution.

 To learn more, please go to the TIAA-CREF website for Elmhurst College at www.tiaa-cref.org/elmhurst.  Or visit with a TIAA-CREF representative who will be on campus on September 16 at 1:00 p.m. or on September 18 at 9:00 a.m., 2009.  Both 2009 sessions will be held in the Melanchthon Room.  The TIAA-CREF representative will provide a brief presentation on the Roth 403(b) option and life-cycle funds and a Human Resources representative will assist you in completing payroll deduction forms if you are interested in selecting the Roth 403(b) r another investment fund.

Expansion of TIAA-CREF Life Cycle Funds
TIAA-CREF has added three new lifecycle funds: two are for persons who anticipate retiring in 2045 and 2050 respectively and one fund is for those who seek income in retirement.  These funds are:

TIAA-CREF Lifecycle Fund 2045 and TIAA-CREF Lifecycle Fund 2050.  Both funds seek high total return over time through a combination of capital appreciation and income.  The Funds invest primarily in underlying TIAA-CREF mutual funds according to an asset allocation strategy designed for investors planning to retire in or within a few years of 2045 and 2050 respectively.

TIAA-CREF has also added the TIAA-CREF Retirement Income Fund which is a fund that seeks high total return over time primarily through income, with a secondary emphasis on capital appreciation.  The Fund invests primarily in underlying TIAA-CREF mutual funds according to a fixed conservative asset allocation strategy designed for shareholders already in retirement.  The TIAA-CREF Lifecycle Retirement Income Fund has a relatively fixed asset allocation primarily between equity and fixed-income (including money market) underlying fund investments.   

Please note that each of the TIAA-CREF Lifecycle Funds is a “fund of funds” using TIAA-CREF mutual funds as underlying investments.  TIAA-CREF Lifecycle Funds are now available for target retirement years in five-year increments from 2010 to 2050.  Each Lifecycle Fund is managed with a specific target retirement date in mind and each fund’s underlying investments are adjusted from more aggressive to more conservative as a target retirement date approaches.

Generally this means that each Lifecycle Fund’s investments (this does not include the TIAA-CREF Lifecycle Retirement Income Fund) will gradually be reallocated from underlying funds investing primarily in equity securities (stocks) to underlying funds investing primarily in fixed-income securities (bonds) or money market instruments.

Please see the TIAA-CREF Lifecycle Funds’ prospectuses for more details concerning these funds including a detailed discussion of the risks and expenses of the TIAA-CREF Lifecycle Funds and their underlying investments.  (Prospectuses are available at http://www.tiaa-cref.org/prospectuses/.)  Or visit with our TIAA-CREF Representative on September 16 or 18, 2009.

AT&T Discount
As part of the College’s service agreement with AT&T, employees of the College are offered discounts on services.  These apply even if you are already an AT&T subscriber.  Basically, AT&T Mobility offers discounted cellular phone services to College faculty, staff and students.  Discounts for employees include:

15% monthly service discount.  

Plus ordering online offers may result in additional benefits, which may include discounted equipment prices and other savings.  Faculty/Staff can purchase phones, plans, and review pricing information online via the following  link: http://www.att.com/wireless/elmhurstemp - “discount code” 2557296, or in AT&T retail stores.

Existing AT&T customers can sign up for the discount by clicking on “Enroll Now” on the right side of the page in the website above.  Please note that you may be charged a $36.00 Sponsorship Fee (per each line on individual rate plans) to enroll your account in the AT&T Sponsorship Program.  This fee excludes add-a-line(s) on Family plans and customers signing up within 30 days of their initial new customer AT&T activation date.

Tuition Remission
Full-Tuition Remission is available to employees after one-year of employment at the College.  This benefit has helped numerous families over the years and is available to employees, spouses/partners and dependent children up to age 25.  Employees are eligible after one-year of full-time or part-time I employment.

H1N1 Flu (Swine Flu) Advice
At this point we suggest you stay informed.  The CDC website (http://www.cdc.gov/h1n1flu/) is updated regularly as information becomes available.  In general, influenza is thought to be spread mainly person-to-person through coughing or sneezing of infected people.  Take everyday actions to stay healthy.  Cover your nose and mouth with a tissue when you cough or sneeze.  Throw the tissue in the trash after you use it.  Wash your hands often with soap and water, especially after you cough or sneeze.  Alcohol-based hand cleaners are also effective and available on campus.  Avoid touching your eyes, nose or mouth.  Germs spread that way.  Stay home if you get sick, CDC recommends that you stay home from work or school and limit contact with others to keep from infecting them.  Follow public health advice regarding school closures, avoiding crowds and do follow other social distancing measures.  Find healthy ways to deal with stress and anxiety.  Call 1/800-CDC-INFO for more information.    

FAQs

Will there be a change in the age of dependents for the Blue Cross Plan?
Effective January 1, 2010, the State of Illinois will require our plans to give parents with insurance policies that cover dependents the right to elect coverage for qualifying dependents up to age 26 and up to age 30 for military veteran dependents.