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Remitting premium data is the process by which you indicate to us how much to contribute for each employee.
Included in the information you provide is the employee's personal information, the plan to contribute to, whether
the contribution is employer or employee money, and whether to classify it as reduction or deduction. You send this
data on a predefined schedule.
TIAA-CREF's secure online facility allows you to transmit your remittance data over the Internet. Today nearly
half of our institutions are realizing the benefits of our online remittance facilities.
You must select a contribution remittance schedule. To do so, take the following steps:
- Select an installment schedule. How many times each year will your institution remit premiums? You can set
up more than one installment schedule if you plan to remit differently for different classes of employees.
- Notify us of your scheduled payment dates. To change your scheduled payment dates, call the Administrator
Telephone Center. If you are new with TIAA-CREF, we will contact you to establish your payment schedule.
- Remit payments on time. Remittances should follow payroll dates as closely as possible, whatever schedule
you choose, for example, biweekly or monthly. If you send premiums monthly, they should be received at TIAA-CREF
by the first of the month following the month in which the salary was earned; for example, contributions based on
July earnings should be received by August 1st. Department of Labor regulations generally require that any employee
contributions be remitted as soon as is administratively feasible after they are withheld from the employee's pay
and in no event later than 15 business days following the end of the month in which the contributions were withheld.
- Send your remittance reporting data with or prior to your payment. Otherwise, we cannot complete the process
of crediting contributions to your employees' accounts.
At any time, you can go online and view the participation date of each contribution via
Administrator Access.
Employees can log onto Account Access to see a record of contributions credited to their accounts. If you need assistance,
TIAA-CREF's Administrator Telephone Center, 1 888 842-7782, is available
every step of the way.
If you still send this information by paper or tape you should speak to us about converting.
Our online services are fast and efficient. Otherwise you can continue to send your
lists to:
TIAA-CREF
P.O. Box 1273
Charlotte, NC 28201
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