(Supplemental Retirement Annuity) This represents employee's voluntary contributions to the University's retirement plan. During the first two years of eligible employment before the University match begins,employees may contribute to an SRS their total percentage or dollar amount After two years,employees may contribute to an SRA the percentage or dollar amount above the required 5% to the basic plan. There is more accessibility to accumulations in the voluntary SRA.
Supplemental Retirement Annuity. a TIAA-CREF tax-deferred savings vehicle. Contributions are made by participants through salary reduction, lowering a participant's taxable salary. Earnings on SRAs are also tax deferred. The accumulations are taxed as income when distributed. SRAs do not have a loan provision.
Supplemental Retirement Annuity. Similar to the Group Supplemental Retirement Annuity except offered under an individual rather than a group (employer) contract, in an employer's tax-deferred traditional and variable annuity plan. In most respects, SRA provisions are essentially identical to those for Group Supplemental Retirement Annuities. Under federal tax law, SRA amounts credited before January 1, 1989, can be withdrawn at any time; amounts credited thereafter can be withdrawn only after a Triggering Event. (There is no loan feature under the SRA contract.)