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  • January 26, 2021

Marquette’s 403(b) plan updates

December 9, 2020

Roth in-plan conversion option
As of Dec. 1, 2020, 403(b) plan participants are able to directly convert eligible pretax contributions plus earnings to a designated Roth option. Before electing a Roth in-plan conversion, please refer to this information from TIAA and consult with your personal tax advisor to ensure this strategy is consistent with your overall personal financial goals.

Benefits of Roth in-plan conversion include:

  • Once the conversion is at least five years old, any qualified distribution of Roth assets plus earnings can be withdrawn tax free.
  • A Roth can be advantageous if you anticipate being in the same or a higher tax bracket in the future and/or have a long investment horizon.
  • Diversification of your tax liabilities.

The IRS also provides information about in-plan Roth rollovers/conversions. If interested in the Roth in-plan conversion option, contact TIAA at 1 (800) 842-2252 or www.tiaa-cref.org/marquette.


CREF Money Market account participants
In May 2020 TIAA began sending emails to participants with balances in the CREF Money Market Account about the impact of the low interest rate environment on this account. Please read this information carefully to understand how this affects your retirement account and consult with your personal financial advisor to determine if you’d like to take any actions before the end of the calendar year.

With questions about your TIAA 403(b) account, contact TIAA at 1-800-842-2252 or www.tiaa-cref.org/marquette.

Filed Under: For Faculty/Staff, HR News, News

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