TIAA
Two (2) defined contribution plans
Plan Type #1: 401(a) Defined Contribution Plan

• Contributions: Employee required contribution- 7% MMA contribution - 7%
• Eligibility: Employees not currently or previously enrolled in the Maine Public Employees Retirement System (MainePERS) are eligible to join within 30 days of hire. The decision to join, or not to join is irrevocable.
• ER Contribution Vesting: Two (2) years from date of hire. All employee contributions are immediately vested.

Plan Type #2: 403(b) Defined Contribution Plan

• Contributions: Employee contribution – as determined by employee up to IRS limit.
• Eligibility: Employees may join at any time. Vesting: All employee contributions are immediately vested, there are no employer contributions to this plan.

MainePERS
Defined Benefit Plan

• Contributions: As determined by MainePERS
• Eligibility: Employees previously enrol​​led in the MainePERS either at MMA or at another Maine employer must join within 30 days of hire or rehire. The decision to join, or not to join MainePERS is irrevocable. New hires not previously enrolled in MainePERS are not eligible to join.
• ER Contribution Vesting: Five (5) years from date of hire. (All employee contributions are immediately vested.)
• Social Security – MMA contributes to both Social Security and MainePERS​

Retirement Forms:

• MainePERS Address & Info Change Form
• MainePERS Beneficiary Designation for Pre-retirement death benefit​​