1. THE EMERITI PROGRAM during your working years
2013 Benefits
THE EMERITI PROGRAM during your working years
Saving for Health Care Expenses in Retirement
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2. Your Institution’s Commitment
Your Institution is:
Giving you a tax-free way to pay your health care expenses in retirement
Providing access to group health insurance when you retire
Offering tax-free reimbursement for other health care expenses
Keeping you informed about retiree health care issues along the way

3. Comprehensive Retirement Security
403 (b) Retirement Plan
Accessible for general retirement expenses
Retiree income distribution is taxable
Beneficiaries
Assets passed to the estate
501 (c) (9) – VEBA Retiree Health Plan
Dedicated to health-related retirement expenses
Retiree health benefit distributions are tax-free
Dependents
Assets passed on for mutual benefit of the plan

4. Emeriti’s Core Benefit Components
Tax-advantaged savings and investment vehicle, via VEBA Trusts, for payment of future medical expenses in retirement
Emeriti Health Accounts
Portable group retiree health insurance options building on the foundation of Medicare
Emeriti Health Insurance
Tax-free reimbursement of other qualified medical expenses not covered by Medicare or Emeriti insurance options
Emeriti Reimbursement Benefits

5. Emeriti’s Service Providers
TIAA-CREF
Accumulation Recordkeeping
Trust Services
Investment Management
Proprietary Mutual Funds
Non Proprietary Mutual Funds
Savitz
Disbursement Recordkeeping
Insurance Premiums
Qualifying Medical Expenses
Debit Card
Manual Claims
Aetna
Retiree Health Plans
HealthPartners 5

6. Tax Advantages of Emeriti Health Accounts
Contributions and earnings disbursed tax free during retirement
CONTRIBUTIONS DURING WORKING YEARS
DISBURSEMENTS DURING RETIREMENT
NOTE: Your employer’s plan establishes specific rules for vesting in account balance and retirement eligibility for insurance. Please consult your plan highlights and summary plan description
INVESTMENTS
You Receive Tax-Free Emeriti Reimbursement Benefits
You Make After-tax Voluntary Contributions
Your Institution Makes Tax-free Employer Contributions*
Your Assets Accumulate Tax-Free
You Pay for Emeriti Health Insurance Premiums Tax-Free
*Begins at a pre-designated age. See your Summary Plan Description or talk to your benefits administrator. Your institution may make additional pre-tax contributions in lieu of salary or other benefits. 6 8

7. Investment Options in 2013 TIAA-CREF Lifecycle Funds
Asset diversification among asset classes
Automatic rebalancing
TIAA-CREF Lifecycle Funds
(Retirement Class)
A money market mutual fund
Seeks to assure the value of your investment at $1 per share
TIAA-CREF Money Market Fund
Some TIAA-CREF proprietary funds
Some non-proprietary funds from other mutual fund families
Additional Mutual Funds – based on institution’s election
CORE FUNDS
CORE PLUS FUNDS

8. Why You Need to Save

9. Medicare is Not Enough Out-of-Pocket 13% Other 14%*
Private Insurance 14%
Medicare 59%
Other 14%*
Source: EBRI estimates from the 2009 Medical Expenditure Panel Survey.
*VA, Tricare, other private, Medicaid, other. 11

10. What Are You Saving For? Medicare Supplemental Insurance
Part B premium
Part A deductible
Part B deductible
Part D deductible
Part D Coverage Gap cost share
Part D True Out-of-Pocket) TrOOP
Supplemental Insurance
Premiums
Plan deductibles
Co-pays and co-insurance
Out-of-Pocket Expenses
Vision
Hearing
Medical equipment
Long-term care
Nursing home
Potential Impact for Medicare Solvency. Immediate increase in FICA payroll tax for current workers toward Medicare: 2.9% to 3.56%. SOURCE: EBRI Issue Brief, December 2010.

11. Save Early and Consistently
The power of compounding
Potential account earnings
Just by saving $100 monthly
Contributions
Total:
$264,012
$300,000
$216,012
$250,000
$200,000
Total:
$122,709
$150,000
$86,709
Total:
$52,397
$100,000
Total:
$17,409
$28,397
$50,000
SAVINGS
$5,409 $0
$12,000
$24,000
$36,000
$48,000
YEARS OF SAVING 10 20 30 40
These examples are intended for illustrative purposes and are not a prediction of investment results. Your own Plan account may earn more or less than this example. Actual account balances will be determined by the contributions made and any investment gains or losses. Investing in this manner does not ensure a profit or guarantee against loss in declining markets. These examples do not take fees into account and actual balances will generally be reduced by fees. Contributions and earnings accrue tax-free and are paid out tax-free for reimbursement of qualified health expenses. These examples are based on $100 contributions made at the beginning of each month and a 7% annual rate of return compounded monthly. Chart balances shown are end-of-year balances.

12. Tax diversity in retirement is key
Keep This In Mind
Tax diversity in retirement is key
WHY?
Medicare cost shares are increasingly indexed to income:
Medicare Part B premiums
Medicare Part D premiums

13. Tax Diversity in Retirement in Action
$1,000 medical bill!
Pay with 403(b) Retirement Plan
Taxable withdrawal of approximately $1,250
80 cents on the dollar in 20% federal income tax bracket
Pay with Emeriti Health Account
Tax-free withdrawal of $1,000
100 cents on the dollar

14. Your Next Steps
Contact your benefits administrator to begin payroll deferred voluntary contributions
Keep an eye out for Emeriti’s life stage communications
Visit EmeritiHealth.org
Register on the Emeriti Benefits Dashboard at MyEmeritiBenefits.org

15. ESSENTIAL SERVICES In print | In person | On phone Call toll-free:
1-866-EMERITI
( )
Monday – Friday
9:00AM to 5:30PM (ET)
Annual workshops on campus
National teleconferences
Investment statement
Benefits statement
When you are saving
When you are nearing retirement
When you are using retiree health benefits
Initial age-in kit at Medicare eligibility
Annual insurance enrollment kit, thereafter

16. DIGITAL SERVICES
Online: access via EmeritiHealth.org

17. DIGITAL SERVICES Online: access via EmeritiHealth.org
Comprehensive Program website
Visit EmeritiHealth.org
At-a-glance benefits website
Register at MyEmeritiBenefits.org
Check your Emeriti Health Account balance
Log-in at tiaa-cref.org
Online resource for insurance benefits and health information
Check your insurance claims
Order prescriptions online
Access via EmeritiHealth.org
Online resource for insurance benefits and health information
Access via EmeritiHealth.org
Detailed investment information
Prospectuses, fund fact sheets, performance reports
Website in development

18. Log-in at TIAA-CREF.org
Investment choices
Account balances
Contribution history
Recent transactions

19. TIAA-CREF Quarterly Statement - Investments
Savitz Quarterly Statement – Benefits

20. Health Account balances
Health Insurance enrollments
Reimbursement Benefit transactions
Register today at MyEmeritiBenefits.org

21. How to Use the Emeriti Service Center
Thank you for calling Emeriti
Please listen carefully, as our menu has changed.
YOU WILL HAVE 3 CHOICES
For information about
Insurance Enrollment,
press 1
For information about the Reimbursement Benefit, press 2
For information about the Health Accounts,
press 3
Reminder: Participants enrolled in the Medicare Advantage PPO Plan should only present their Aetna Medicare Advantage card to health service providers. The Plan replaces Medicare, so participants should only use their Aetna medical ID card.

22. Status of 2012 Services Commitments
Improved Emeriti Service Center: 9am – 5:30pm ET EMERITI
Dedicated Emeriti representatives
Improved warm transfers
Enhanced reimbursement benefit options:
Manual claims can be submitted via direct mail, fax, or uploaded to participant benefits dashboard, starting in January
New debit card option in development for 2013
Online participant dashboard:
At-a-glance summary of Health Account activity, insurance plan information, and reimbursement benefit transactions.
Quarterly statements:
Investment statement from TIAA-CREF
Health insurance and reimbursement benefit statement from Savitz
Enhanced menu of investment funds and institutional Microsites:
Proprietary and non-proprietary fund choices
Microsites in development for 2013
Improved suite of life-stage communications for participants:
Retired participants
Participants nearing retirement
Younger active participants – in development for 2013
Improved ACH savings opportunity from personal bank accounts:
Recurring and periodic lump sum savings option – in development for 2013

23. Emeriti Program Fees
Your employer may cover all or some portion of the service fees. Check with your institution’s benefit administrator if you are uncertain.
Monthly Participant Fees
Fees
Actives
Retirees*
Emeriti
$5.00
TIAA-CREF
$ .67
Savitz
$1.00
$6.00
No extra processing fees for QMEs. Active fee is unchanged.
Investment management fees are variable by selected mutual funds (see prospectuses)
*Also applies to vested terminated employees

24. Emeriti Retirement Health Solutions provided this information and is responsible for its content.
Emeriti, TIAA-CREF, Savitz, Aetna Life Insurance Company, and HealthPartners are independent corporations and are not legally affiliated.
The retirement healthcare program is offered by the employer. Teachers Insurance and Annuity Association (TIAA) will provide services to the plan and make available investment options. TIAA-CREF Trust Company, FSB provides investment management and trust services.
Emeriti Retirement Health Solutions is not an insurance company, insurance broker or insurance provider.
Summary Plan Description (SPD)
This presentation is intended to provide you with a brief summary of some of the details of your Employer’s Emeriti Plan and the Emeriti Program. For a full summary of the terms of your Employer’s Emeriti Plan you must consult the SPD, which will be provided to you upon enrollment or upon request.

25. Investment Adviser Status
Emeriti Retirement Health Solutions is a registered investment adviser for purposes of selecting the range of investment options for the Emeriti Program, selecting the investment manager for employer and voluntary employee contributions, and providing these and other impersonal educational materials to plan participants. Emeriti does not provide advice to participants about their individual investment selections.
The participation interests in the voluntary employee contribution VEBA trusts associated with the Emeriti plans (the “Interests”) may be treated as securities under various state securities laws. The offering of these Interests is subject to compliance with any applicable state law. For residents of Georgia, the Interests are being offered in reliance on paragraph 13 of Code Section of the Georgia Securities Act of 1973, as amended (the “Georgia Act”). The Interests may not be sold or transferred except in a transaction which is exempt under the Georgia Act or pursuant to an effective registration under the Georgia Act.

26. Addendum

27. Four Components of Part D Benefit
Coverage Gap
Catastrophic Coverage
Deductible
Initial Coverage Period
You pay 97.5% of brand drugs
You pay 79% of generic drugs
You pay first $325 as deductible
You pay 25% of drug costs
You pay 5%
You reach the Coverage Gap at $2,970 in total Part D covered drug expenditures (includes plan deductible, your costs and plan costs in the Initial Coverage Period).
You reach Catastrophic Coverage at $4,750 in true out-of-pocket costs.