We care about your overall well-being, which is why we offer a two-part retirement program to help you save for retirement: the employee- and Children’s Mercy-funded Tax-Deferred Annuity Plan and the Children’s Mercy-funded Retirement Plan. Both are administered by TIAA.
The Tax-Deferred Annuity Plan (TDA Plan) is a 403(b) retirement savings plan for employees of nonprofit academic, medical, religious and educational organizations. Like a 401(k) plan for employees of for-profit companies, our TDA Plan offers tax advantages for participants. You are fully vested in your contributions and will become fully vested in the employer match after three years of service with CM*.
All Children’s Mercy employees working any schedule or number of hours may contribute to the TDA Plan.
When hired, you are automatically enrolled in the TDA Plan. Beginning with your first paycheck, 3% of your pay is contributed into your TDA account. If you don’t want to take advantage of this convenient way to save for retirement, you may opt out of automatic enrollment.
Check out the Retirement Program Guide for more details about the TDA Plan, including how to change your contributions, how to choose your investment options, how to designate beneficiaries, and more.
You can also visit tiaa.org/childrensmercy.
The Retirement Plan is a 401(a) plan, managed by TIAA but separate from the TDA Plan. It is 100% funded by CM; you cannot contribute to this plan.
You are eligible to participate in the Retirement Plan if you are at least 21 years old and have completed two years of service, defined as 1,000 or more paid hours over two 12-month periods.
Check out the Retirement Program Guide for more details about the Retirement Plan, including how to change your investment options once you become eligible, how to designate beneficiaries, and more.
You can also visit tiaa.org/childrensmercy.
*If you were hired prior to January 1, 2021, you must complete two years of service to become fully vested in the match.