Investment Options-Human Resources - Carnegie Mellon University

Investment Options

All new full-time domestic hires (except for non-resident aliens) are automatically enrolled in the Faculty and Staff Retirement Plan (FSRP) through a Group Retirement Annuity Plan established at TIAA-CREF. The university makes contributions from its own funds to an account in an age-appropriate LifeCycle fund (based on the year in which you will reach age 65). If you prefer not to invest with the TIAA-CREF default fund, active elections can be made at TIAA-CREF or Vanguard to direct the funds in your FSRP account. Opting out of the default LifeCycle fund requires completion of an enrollment form for either carrier.

All new full-time faculty and staff who are considered non-resident aliens are automatically enrolled in the in the CMU 401(k) plan through Vanguard. The university contributions are invested in the Vanguard Target Retirement fund with the target year in which the participant will reach 65. You can make active elections at Vanguard to direct the fund(s) in the 401(k) account. Opting out of the default Target Retirement fund requires completion of a Vanguard enrollment form.

In addition, if you elect to make contributions through payroll deduction, a Supplemental Retirement Account (SRA) in the Tax Deferred Annuities (TDA) Plan or in the CMU 401(k) Plan must be established by completing the appropriate SRA Form.
  • Upon completion of the appropriate carrier enrollment forms, Supplemental Retirement Account contributions will be invested in the TIAA-CREF and/or Vanguard investment fund options that the participant chooses.
  • It is your responsibility to ensure that supplemental retirement contributions are deposited into the investment funds that best meet your retirement goals.
NOTE: To rollover funds from a previous retirement plan, a Supplemental Retirement Account (SRA) in the Tax Deferred Annuities (TDA) account must be created. This account is independent of the university contributions and may act as the repository for rollovers as well as any supplemental employee contributions 401(k) participants can rollover into the 401(k) plan without setting up the SRA.

Investment Account Options

 

TIAA-CREF Group
Retirement Annuity (GRA)

TIAA-CREF Group Supplemental Retirement Annuity (GSRA)


Vanguard Mutual Funds


Contribution Type

University contributions

Employee voluntary contributions

University and employee voluntary contributions

Investment Options

TIAA-CREF Lifecycle Funds

TIAA-CREF Carnegie Mellon Investment Information

TIAA-CREF Lifecycle Funds

TIAA-CREF Carnegie Mellon Investment Information

Vanguard Enrollment Site

Vanguard FSRP Fund Options

Vanguard TDA Fund Options

Vanguard 401k Fund Options [pdf]

Rate of return / performance

TIAA-CREF Fund Performance Site TIAA-CREF Fund Performance Site

Vanguard Funds Performance Site

Roth contributions No Yes, for supplemental contributions.

Yes, for supplemental contributions only. 

Not available for University contributions.

Loan features No loans available. Loans available, contact TIAA-CREF.

No loans available.

Understanding Traditional vs. Roth 403(b) contributions [pdf]