Benefits
Saving for Retirement
Stanford Contributory Retirement Plan (SCRP)
The Stanford Contributory Retirement Plan (SCRP) has two accounts that enable you to save for your retirement. After receiving your first paycheck, enroll in the Tax-Deferred Account (TDA)* of the SCRP and start making contributions from your paycheck. After one year of service, you become eligible to receive Stanford contributions to the Contributory Retirement Account (CRA) of the SCRP. Regardless of which account you contribute to, you are always fully vested in the contributions you make and those you receive from Stanford.
*Until 1/1/2012, this was known as the Tax-Deferred Annuity Plan. The Plan was merged into the Stanford Contributory Retirement Plan (SCRP) and is now a separate account within the SCRP.
Retirement Plan Refresher Online Presentation
Free Financial Counseling
Vanguard, Fidelity, and TIAA-CREF provide free individual financial counseling on campus. .
To Schedule A Counseling Appointment:
| Vanguard | www.meetvanguard.com | 800-662-0106 ext. 14500 |
| TIAA-CREF | www.tiaa-cref.org/public/products-services/retirement-consultation/ | 866-843-5640 |
| Fidelity | www.fidelity.com/atwork/reservations/ | 800-642-7131 |
Plan Eligibility
If you are a Stanford employee, you are likely eligible to open a TDA following your first regular paycheck. You may also be eligible to open a CRA after one year of employment. Your eligibility is based on a variety of factors to determine your eligibility.
Note to Recalled Retirees (faculty & staff): If you're recalled into active employment you may have additional eligibility considerations. Contact Stanford Benefits for assistance at 650-736-2985, option 3.
Tax-Deferred Account (TDA) - Enroll At Hire
Get started right away by taking advantage of the Tax-Deferred Account (TDA), which allows you to start saving a percentage of your salary on a before-tax basis. The TDA is designed to give Stanford employees an immediate vehicle for retirement savings. You may enroll in the TDA as soon as you receive your first paycheck.
Distributions from previous employers' qualified retirement plans may be rolled over into the TDA. Your investment administrator (Fidelity for Vanguard funds and Fidelity BrokerageLink and/or TIAA-CREF) can assist you.
Contributory Retirement Account (CRA) - Enroll After One Year
Celebrate your one-year anniversary at Stanford by enrolling in the Contributory Retirement Account (CRA) of the SCRP. This account is a flexible and robust savings tool that allows you to contribute a percentage of your salary on either a before-tax or after-tax basis.
Whether or not you enroll, Stanford rewards you with a Basic contribution based on your salary and years of service. And, if you enroll and make contributions of your own, you become eligible for Matching contributions from Stanford. Over time your contributions, plus Stanford's Basic and Match contributions, add up to a powerful savings tool!
Important: The only way to receive Stanford's Matching contribution is to enroll in CRA and contribute up to 4%. Your contributions do not automatically transfer from one account to the other. This means if you do not open a CRA, and direct your contributions into CRA, you will lose out on the Matching contribution.
Transition from TDA to CRA Without Losing Any Match
If you become eligible to open a Contributory Retirement Account (CRA) mid-year, remember to enroll and begin contributing at least 4% of your future contributions to your CRA. That way you can start receiving the university's matching contribution as soon as possible. You can continue to make before-tax contributions to TDA. Remember, contributions that go into TDA are not eligible for the Match contributions and cannot transfer into your CRA.
Be aware: If you defer too much of your before-tax contributions to TDA, you may reach the before-tax contribution limits before deferring at least 4% to CRA. In order to receive the maximum Matching contribution, you will have to contribute on an after-tax basis to receive the maximum Matching contribution. Learn more about how to avoid losing university contributions by reading the .
How TDA And CRA Work
You can make contributions directly to either account from your paycheck. You simply have to set up an account using the Stanford Retirement Manager (administered by Fidelity for Stanford) and TIAA-CREF. You decide how to invest your contributions. Through the Stanford Retirement Manager you can select a variety of Vanguard funds and/or open a brokerage account that gives you access to over 4,500 additional mutual funds. The Stanford Retirement Manager also allows you to manage your accounts either online or by phone.
To invest in options offered by TIAA-CREF, you must first enroll in the Stanford Retirement Manager, then link through to TIAA-CREF to get a TIAA-CREF contract and make your investment fund elections with them. If you do not complete a TIAA-CREF contract, your contributions will default into the Vanguard Money Market Fund.
Remember, as a participant, you accept all investment risks. Your before-tax contributions and plan distributions are subject to tax at the time of distribution.
For more information, read the .
The Retirement Savings section of the Stanford Benefits website provides a summary of eligibility, coverage, vesting, retirement options, payment options and other subjects related to retirement savings. However, the official Plan Documents, together with certain annuity contracts and custodial agreements with investment providers (all as amended from time-to-time) govern Plan operation, and the determination and payment of benefits. In the event of any conflict between the information in this section and the official Plan Documents or any of the annuity contracts or custodial agreements, the Plan Document, annuity contract, or custodial agreement will govern.
