Cornell University Tax-Deferred Annuity Plan (TDA)

The Cornell University Tax-Deferred Annuity Program (TDA) benefit offers eligible employees a way to save more for their retirement income. Both endowed and contract college employees are eligible to participate in the plan.

Employees elect the amount or percentage that will be contributed to their account directly from their paycheck. Participating employees may select how the contributions are allocated between Fidelity Investments and/or TIAA, and the type of investment funds in which to invest.

All eligible employees are fully and immediately vested in their account balance once enrolled, meaning the money is yours to keep when you separate Cornell.

Contributions

Employees elect the amount or percentage that will be contributed to their account directly from their paycheck. Contributions can be made on a pre-tax basis or a Roth (after-tax) basis (see new section below). Participating employees may select how the contributions are allocated between Fidelity Investments and/or TIAA, and the type of investment funds in which to invest.

All eligible employees are fully and immediately vested in their account balance once enrolled, meaning the money is yours to keep when you separate Cornell.

Employee contributions cannot exceed the annual dollar limitation ($23,500 for 2025, and $24,500 for 2026). This limitation is determined by the IRS and may change annually. The limits combine your pre-tax and Roth deferrals.

If an employee will be age 50 any time during the year, additional money may be contributed based on the IRS determined limit (the Age 50 and Over catch-up). New special catch-up limits apply for ages 60-63, as outlined in the "Super Catch-up" section below.

2025 Annual IRS Limits

 2026 Annual IRS Limits

Mandatory Roth Catch-up for High Earners (Effective 2026)

Under the SECURE 2.0 Act, special rules apply to catch-up contributions starting in 2026:

• If your Social Security (FICA) wages from Cornell University exceeded $150,000 in the prior year (2025 for 2026 contributions), any catch-up contributions you make in the current year ($8,000 for age 50-59/64+ or $11,250 for age 60-63) must be made on a Roth (after-tax) basis.
• This requirement does not affect the standard limit of $24,500, which can still be contributed on a pre-tax, Roth, or combined basis.
• If you did not exceed the $150,000 wage threshold in the prior year, you can choose to make your catch-up contributions on a pre-tax, Roth, or combined basis.

"Super Catch-up" Contribution for Ages 60-63 (Effective 2026)

Effective in 2025 (as part of SECURE 2.0 and reflected in the 2026 limits), a higher catch-up contribution is available for employees who will attain age 60, 61, 62, or 63 during the calendar year.

• This "Super Catch-up" limit is $11,250 (instead of the standard $8,000 Age 50+ catch-up).
• The total elective deferral limit for these ages is $35,750 in 2026 ($24,500 standard limit + $11,250 catch-up).
• Note: If your prior-year FICA wages exceeded $150,000, this "Super Catch-up" contribution must be made on a Roth (after-tax) basis.

Enroll or Change Contributions 

Employees use Workday to select the amount or percentage they wish to contribute to their TDA account per paycheck, and what investment service provider to invest with, either with Fidelity Investments and/or TIAA .

• How to Update Your Retirement Savings in Workday

Rolling Over Other Retirement Plans

Employees in the TDA plan may be able to rollover their account balances from other retirement plans. Rollovers can be accepted from 401(k), 401(a), 403(a), 403(b), non-governmental 457(b), profit sharing, stock plans, and traditional IRAs. For more information or to obtain a rollover application, contact Fidelity Investments and/or TIAA directly.

Withdrawals

An employee is eligible to withdraw from their TDA account(s) upon one of these events:

Separation from Cornell

• Retirement: At least age 55 and at least 10 years of credited service
• Minimum Distribution: Age 73 and has not begun mandatory benefit distributions. If you will turn 73 after 12/31/2032, your mandatory distribution age is 75.
• Death: Paid to designated beneficiary(ies)
• No longer employed by Cornell. A separated employee must work directly with Fidelity Investments and/or TIAA to take a distribution/withdrawal from their CUTDAP accounts(s). Cornell University does NOT sign off on distribution/withdrawal forms.

While employed by Cornell*

• In-service withdrawal: Age 59 1/2
• Minimum Distribution: Optional if age 73 and has not begun mandatory benefit distributions. If you will turn 73 after 12/31/2032, your mandatory distribution age is 75.
• Disability: Receiving university long-term disability benefits and/or receiving Social Security disability benefits. 
  An employee on an approved long-term disability or who is receiving Social Security disability benefits may take distributions from their TDA account. When on an approved long-term disability with Cornell, an employee is considered an active employee. When contacting Fidelity Investments and/or TIAA, please do not indicate a status of terminated. Please let them know your request is for a long-term disability distribution.
• Phased Retirement: Available for faculty and staff
• Loans: Available
• Hardship: Withdrawals only available for certain financial hardships

*To take a withdrawal while employed at Cornell, if you meet any of the above-noted criteria, you must tell Fidelity Investments and/or TIAA that you are taking an in-service distribution and which of the above criteria you fall under.  If you indicate you are terminated/separated from Cornell, your withdrawal request will be denied.  Please note that while on an approved long-term disability, you are still an active employee and will not be able to take an in-service withdrawal until the effective date of your approved long-term disability.

Resources

Free Individual Consultations

Fidelity Investments and TIAA representatives are available for one-on-one individual counseling appointments on campus, by phone, email and/or Zoom.  Financial representatives can educate/assist on your contributions, balances, investments, your withdrawal/payment options, or other general retirement account-related information.

Contact

Documentation