How to Enroll
Follow these steps to enroll in the Stanford Contributory Retirement Plan (SCRP).
1. Decide the percentage of salary you wish to contribute through payroll deductions
Determine your contribution amount into these retirement savings accounts. Remember:
- CRA elections take effect only after you become eligible for the CRA.
- The combined amount of your before-tax contributions in CRA, TDA and Roth cannot exceed the annual IRS contribution limits.
|CONTRIBUTION TYPE-SOURCE||PAYROLL DEDUCTION|
|Non-Matchable Employee, Before-Tax (TDA)||%|
|Matchable Employee, Before-Tax (CRA)*||%|
|Matchable Employee, After-Tax (CRA)||%|
|Non-Matchable Employee, After-Tax (Roth)||%|
*STANFORD MAY AUTO-ENROLL YOU AT 4% MATCHABLE EMPLOYEE BEFORE-TAX (CRA) AND YOU MAY MAKE ANY CHANGES AT ANY TIME.
2. Decide the percentage of your account you wish to direct to a Stanford Retirement Manager account and/or a TIAA account.
|ACCOUNT ALLOCATION||WHOLE PERCENTAGE|
|Stanford Retirement Manager account||%|
**TO HAVE ANY CONTRIBUTIONS GO INTO A TIAA ACCOUNT, YOU MUST FIRST ENROLL THROUGH THE MY RETIREMENT SAVINGS PORTAL. THEN, YOU WILL BE DIRECTED TO TIAA WHERE YOU WILL NEED TO COMPLETE A TIAA CONTRACT.
3. Select the funds to hold your contributions
You can have your entire contribution go into one fund or split between several funds. Make sure all your investment elections are in whole percentages and total 100%.
Information on SCRP investment options are available on the following websites:
- My Retirement Savings powered by Fidelity Investments, which provides administration for Fidelity and Vanguard funds, or call (888)793-8733
- TIAA, or call(800)-842-2776
IMPORTANT: IF YOU MAKE NO INVESTMENT ELECTIONS (OR YOU FAIL TO COMPLETE A TIAA CONTRACT, IF APPLICABLE), YOUR CONTRIBUTIONS WILL BE INVESTED ACCORDING TO THE PLAN’S DEFAULT RULES, WHICH ARE THE AGE-APPROPRIATE VANGUARD TARGET RETIREMENT FUNDS.
4. Select a personal identification number (PIN)
Select a personal identification number (PIN) to use when you access My Retirement Savings. Your PIN must be 6-12 characters and differ from your Social Security number and birth date.
5. Start the enrollment process
Once you have created your PIN, the My Retirement Savings portal or a Retirement Services Specialist will recognize you are enrolling and will lead you through the process. You will be asked to set up your payroll deductions and your investment elections.
6. You will receive confirmation of your elections from Fidelity
Please review these confirmations for accuracy. Confirmation for TIAA accounts will be mailed separately.
7. Complete the online Beneficiary Designation Forms
Ensure you have identified beneficiaries for your accounts.
- For Your TIAA Accounts: Log in to www.tiaa.org/beneficiaries. From your account, choose Manage My Portfolio and under Profile & Settings, select View/Change Beneficiaries.
- For any questions or to receive a paper beneficiary form, please call TIAA at 800-842-2252.
- For Your Fidelity Investment Accounts: Log in to My Retirement Savings and click on the Profile tab and select Beneficiaries.
- For any questions or to receive a paper beneficiary form, please contact Fidelity at 888-793-8733.
8. Review your upcoming pay statement
Verify that your correct amount has been deducted.