Skip to main content

Working at Cornell

Retirement Savings

Contract College Employees

  1. New York State Plans

    New York State requires that all regular full-time employees and employees working full-time for at least 12 months, enroll in a New York State retirement plan. You can only waive enrollment if you are a part-time or temporary employee. Choose between the NYS pension plan (a defined benefit plan that provides a fixed, lifetime monthly income at retirement) or the SUNY Optional Retirement Program (a defined contribution plan where assets are based on amounts contributed by the employer, the employee, and the success of investments chosen by the participant).

  2. Cornell University Tax-Deferred Annuity Plan

    The Cornell University Tax-Deferred Annuity Program (TDA) benefit offers eligible employees a way to save more for their retirement income. Endowed and contract college employees who are on the university payroll whose wages are subject to FICA deductions are eligible to participate in the plan.

  3. 457(b) Retirement Plan

    The 457(b) Retirement Plan provides a way for employees to contribute additional money from their paychecks on a pre-tax basis to a special retirement account. Eligibility in the 457(b) Retirement Plan is based on minimum compensation of 67% of the IRS annual compensation limit; eligibility for the 457(b) Retirement Plan is determined each calendar year.

Endowed Employees

  1. Cornell University Retirement Plan (CURP)

    The Cornell University Retirement Plan (CURP) benefit is designed to provide retirement income to endowed employees during their retirement. Eligible Cornell employees receive a discretionary 10% contribution deposited into a 403(b) retirement plan account.

  2. Cornell University Tax-Deferred Annuity Plan

    The Cornell University Tax-Deferred Annuity Program (TDA) benefit offers eligible employees a way to save more for their retirement income. Endowed and contract college employees who are on the university payroll whose wages are subject to FICA deductions are eligible to participate in the plan.

  3. 457(b) Retirement Plan

    The 457(b) Retirement Plan provides a way for employees to contribute additional money from their paychecks on a pre-tax basis to a special retirement account. Eligibility in the 457(b) Retirement Plan is based on minimum compensation of 67% of the IRS annual compensation limit; eligibility for the 457(b) Retirement Plan is determined each calendar year.

Free Consultations

Schedule a meeting (in-person on Ithaca campus or by phone/zoom) with an investment representative:

Free Retirement Savings Webinars 

Cornell has partnered with Fidelity and TIAA to host a series of webinars to help you prepare for your future!

The dedicated educational consultants from both Fidelity and TIAA will be at these free webinars to answer your general questions!  You do not have to have an account with either Fidelity or TIAA and can attend as many seminars as you’d like.

Retirement Planning

It's never too early to start planning for retirement.

Cornell provides many resources to help you plan - presentations, documents, and tools - each with a goal of clarifying your current benefits as well as your options in retirement. We understand that retirement is a major life transition, and our goal is to make the benefits portion of your transition easier to manage.

Phased Retirement

Eligible faculty members and staff employees may choose to request to reduce their job duties and scheduled hours prior to retirement, to make a gradual transition before their official retirement date. This process is a mutual agreement between the faculty member or staff employee and their department, based on the department’s business need.

Note: Colleges may have internal practices regarding the duration of phased retirement agreements. Please consult with your college’s HR office for details.