Carnegie Mellon is a global research university recognized for academic excellence, groundbreaking research and interdisciplinary collaboration. Human Resources supports the university's efforts to attract, develop and retain a world-class, diverse workforce. Recognizing that each employee plays an important role in advancing Carnegie Mellon’s success, Human Resources also provides a variety of high-quality programs and services that help employees thrive. Our website provides information about these programs and services, as well as Carnegie Mellon’s benefits programs. If you have any questions, please contact us.
What's Happening in Human Resources
Black-Out Period for Vanguard FSRP and TDA Participants
Vanguard Participants: As previously announced, some significant changes to the University’s retirements plans will go into effect starting on April 1, 2015. As part of the merger of the Tax Deferred Annuities Plan (TDA) into the Faculty and Staff Retirement Plan (FSRP), during the period of March 23, 2015, at 4:00 p.m., to April 1, 2015 (the “Blackout Period”), balances in and contributions directed to the TDA will be moved into your FSRP account.
Please note: If you log onto your Vanguard account during the Blackout Period, your account balance(s) will reflect a zero amount. At the end of the Blackout Period on April 1, 2015, your account information will appear, and transactions will be available within your FSRP account.
Please read the Vanguard Black-Out Notice [pdf] that was sent to Vanguard participants in February.
TIAA-CREF and Vanguard 401(k) accounts are not impacted by this blackout.
Changes to Retirement Plans Effective April 1, 2015
Significant changes to the University’s retirement plans will be occurring effective April 1, 2015. These changes will include a new core lineup of funds with very competitive fees, and a much wider selection of funds from a variety of providers that will satisfy the needs of participants who want more flexibility and choice. Objective retirement investment guidance will also be available for those who want it. (Funds within the self-directed brokerage option are not eligible for this guidance.)
To permit the University to be able to implement these improvements, effective April 1, 2015, the Carnegie Mellon University Tax Deferred Annuities (TDA) Plan will be merged into the Carnegie Mellon University Faculty and Staff Retirement Plan (FSRP). The Carnegie Mellon University 401(k) Plan, which is limited to non-U.S. Citizens and non-U.S. residents (non-resident aliens), will not change and will continue to be a separate retirement plan. Thus, effective April 1, 2015, you will either be a participant in the FSRP or the 401(k) Plan.
A new set of investment choices will be implemented beginning April 1, 2015. This new structure has been designed to help all participants make informed investment decisions, taking into account their personal goals, their tolerance for risk and their desire to actively manage their investments.
Learn more about these changes:
- Read an Overview of the April 2015 Retirement Plan Changes [pdf].
- Review the CMU Retirement Transition Guide [pdf].*
The transition guide employees received in the mail may have listed incorrect ticker symbols for some Vanguard Funds (on page 3 of the guide). The ticker symbols are correct in the online version of the guide.
- Attend one of our upcoming Retirement Changes Information Sessions [pdf] on the Pittsburgh campus.
New Offer Letter Templates Available
We have updated the Offer Letter Templates to provide information about Pennsylvania Act 153, which requires certain Child Protective Services clearances. The new templates, which are specific to the employee status and position, include references to Workday and the CMUWorks Service Center. Please use the new Offer Letter Templates going forward when preparing to make an offer to employees. Learn more about Extending an Offer and the new templates (CMU password required).