1. Kenyon College
THE EMERITI PROGRAM the sustainable solution to retiree health benefits
Delivered through record keeping arrangements with TIAA-CREF and Savitz
Supported by Aetna’s fully insured group health plans
This presentation is copyrighted © exclusively by Emeriti

2. An Integrated Partnership Emeriti 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

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 Benefits
Tax-advantaged Retiree Health Account
Tax-free Reimbursement Benefit
Flexible Group Health Insurance Options
Ongoing Education and Information 4

5. Delivery Model Emeriti Core Benefits
Emeriti Insurance Options
VEBA Trusts Employer Trust Employee Trust
Grantor Trust*
TIAA-CREF proprietary mutual funds
Selected non-proprietary mutual funds
Medical Plans
Rx Plans
Dental Plan
Eligible out-of-pocket medical expenses
Emeriti Trust Structure
Emeriti Health Accounts
Emeriti Reimbursement Benefit
Employer contributions to the Grantor Trust can be used for workforce management and transition strategies.
Grantor Trust funds are restricted to fully insured products.

6. CORE PLUS – Kenyon has not elected any Actively Managed Equity Funds
Emeriti Investment Options in 2014
TIAA-CREF Actively Managed Lifecycle Funds - Retirement Class
TIAA-CREF Money Market Fund
CORE - Required
CORE PLUS – Kenyon has not elected any
Fixed Income
Balanced
Actively Managed Equity Funds
PTTAX
PIMCO Total Return
OAKBX
Oakmark Equity & Income
TIKRX
TIAA Inflation-Linked Bond
TRSCX
TIAA Social Choice
Index Funds
VTSSX
Vanguard Total Stock Market Index Fund Signal
VTSGX Vanguard Total International Stock Signal
RFNEX
American Funds Fundamental Investors R4
REREX
American Funds EuroPacific Growth R4
Within the Emeriti program, employees can select among Freedom Funds.
These investment options provide of mix of investments that are based on the time to retirement.
Like TIAA- CREF, St. Olaf’s retirement provider, these programs automatically change allocations as participant age.
Many of our participants don’t feel confident enough to manage allocations and are happy to let the retirement company do it for them.

7. Emeriti Health Accounts
Tax Treatment
Source
Trust**
Emeriti Plan
Contributions
Earnings
Payout
Employer
Employer VEBA
Required
Pre-tax
Tax-free
Employee Voluntary*
Employee VEBA
Strongly Encouraged
After-tax
Tax free
Grantor Trust
Optional
* Employee Voluntary contributions can be funded in a variety of ways.
** Services provided by TIAA-CREF Trust Company as directed trustee.
NOTE: By comparison to Emeriti’s 501(c) 9 welfare plan, distributions from 403(b) retirement plans are taxable and do not confer guaranteed access to health care benefits.

8. Special Contributions to the Grantor Trust
Available exclusively to pay for fully insured benefits
PAYER
CONTRIBUTION
EARNINGS
PAYOUT
EMPLOYER ONLY
Pre-tax
Tax-free
Workforce Management Flexibilities
Eligibility and contribution amounts at discretion of institution*
Retirement Incentives
Retention Opportunities
Recruitment Strategies
Special Transition Contributions
NOTE: These special employer contributions may be made in any amount, to any individual within classes eligible for VEBA.

9. Emeriti Reimbursement Benefit
Tax-Free Reimbursement of Out-of-Pocket Medical Expenses
Pre-65 and COBRA premiums
Supplemental insurance cost shares
Medicare premiums and cost shares
Vision, dental, hearing care
Over-the-counter drugs (prescription required)
Long-term care insurance or related nursing or in-home health care services
Other post-65 insurance premiums (if Emeriti group coverage is not elected by the participant)
Two reimbursement methods:
Rx Debit Card
Manual Claims Processing
Residual balance stays in the participant’s account at year end and has the opportunity to grow tax free for future use.
NOTE: A wide range of health care expenses apply for tax-free reimbursement as long as they satisfy the requirements of Section 213(d) of the IRS Code.

10. Who Can Use the Reimbursement Benefit
Available for You & Your Dependents
Participant’s dependents include:
Spouse (pre- or post-65)
Same sex and opposite sex domestic partner (pre- or post-65)
Dependent children (before majority)
Permanently disabled children
Dependent relatives
Consult your summary plan description for details

11. Reimbursement Benefits at Work
For expenses incurred after termination
Manually submit claims to Savitz:
Mail
Fax
Upload through Participant Benefits Dashboard (MyEmeritiBenefits.org)
Rx Debit Card Available to Institution; currently not elected.
NO ACH contributions available to participants in the first half of Must move existing funds into Money Market for Reimbursement Benefit.
Reimbursement Benefits will be paid from participant’s balance in the Money Market Fund.
Participants may transfer lump-sum amounts or set-up monthly systematic transfers in amounts of $100 or more.

12. Emeriti Post-65 Group Health Insurance
Post-65 Plans Build on the Foundation of Medicare
Portable, nationwide access
Annual choice among plans
Catastrophic protection
Guaranteed issue group health insurance coverage
Prescription (Part D approved) drug coverage
Foreign urgent or emergency care*
Preventive care*
Pre-65 coverage options available
*Depending on plan chosen.

13. Emeriti Insurance Choices for 2014
Five Group Medical Plans*
One Medicare coordination plan
Two Medicare supplemental plans (availability based on state approval)
Two Medicare Advantage PPO (Extended Service Area (ESA) available for geographical areas outside Aetna’s network)
Three Rx Plans**
Rx High Plan – continuing coverage in coverage gap
Rx Mid Plan – generic coverage only in coverage gap
Rx Low Plan – no coverage in coverage gap
One Dental Plan*
One dental plan
* Availability based on state approval.
** The Rx Mid-High Plan is a grandfathered plan and is closed to new entrants.
PLEASE NOTE: Emeriti will offer Aetna Group Medicare Supplement Insurance (GMS) Plans to retirees living in Florida.

14. How Do You Access Medicare and Emeriti Health Insurance
After enrollment in Medicare Parts A & B
After age 65
When you retire
NOTE: Consult your Summary Plan Description for details.

15. Who Can Use Emeriti Health Insurance
Available for Participant & Dependents
Participant’s dependents include:
Spouse (pre- or post-65)
Same sex and opposite sex domestic partner (pre- or post-65) plan*
Dependent children (before majority)
Permanently disabled children**
As of 1/1/2014 Post-65 retiree and their dependents may enroll in different plans
NOTE: The employer’s plan establishes specific rules for vesting in the Emeriti account balance and retirement eligibility for the Emeriti insurance.
*Independent domestic partners pay for insurance outside of the Health Account.
**Determination of permanent disability also confers access to post-65 insurance for these individuals. Disability must occur before majority.

16. How are Insurance Premiums Paid?
Paid through Emeriti Health Account if participant has sufficient funds, as follows:
Grantor Trust
Employer VEBA
Employee VEBA
ACH
If no Health Account funds, payment is made from ACH withdrawals after institutional premium subsidy, if applicable

17. Emeriti Plan Design: Kenyon College Provisions
Definition of eligible participant and dependents
All benefit eligible employees age 21 and older eligible to make voluntary contributions
Vesting (access to employer contributions)
10 years of service at time of termination
Definition of retirement eligibility (access to Emeriti group insurance)
Age 59 1/2 with 10 years of service at time of termination

18. Emeriti Plan Design Employer funding levels
Annual contribution in the amount of $955 into VEBA Trust
Leaves of Absence (no contributions for those on unpaid leaves of absence)

19. Emeriti Plan Design Employee contribution options
Permitted by institution
Starting age for employer funding
Age 35
Employer funding period
Employer contributions continue for 25 years or upon death, termination or retirement, whichever comes first

20. Emeriti Plan Design
Forfeitures (upon termination without vesting or upon death of last surviving eligible dependent)
Attributable to employer dollars, offset future employer plan costs
Monthly Program Fees:
Emeriti’s $5 monthly fee taken from accounts for active employees
Savitz $1.00 monthly fee for active employees and $6.00 for retirees and terminated taken from accounts
TIAA-CREF $0.67 monthly fee for active employees and retirees/terminated employees taken from accounts
The monthly Emeriti fees for active employees, retired, terminated, disabled, and deceased employees
are swept from participant accounts the last week of each month.

21. Participant Communications
Emeriti Website EmeritiHealth.org
Emeriti Workshops Scheduled annually on campus
Emeriti Enrollment Kits Mailed to residence
Emeriti Life Stage Communications Various Media
Emeriti Service Center EMERITI ( )
Emeriti Benefits Dashboard At-a-glance benefits web site
MyEmeritiBenefits.org
Quarterly Statements:
Print or electronic options
TIAA-CREF Investment Microsite Plan level fund information

22. Contacts Emeriti  TIAA-CREF  Christina Fendley Jim Dawson
(845)
New Windsor, NY 
Assistant Director, Implementation and Communications
TIAA-CREF
Jim Dawson
Client Services Consultant I Institutional Client Services
Denver, Colorado 
Emeriti Tutorial

23. Emeriti Tutorial
Emeriti Program TIAA-CREF Remittance Process for Kenyon College
For Plan Sponsor Use Only

24. Understanding status codes and money sources
Employee Status Codes and Descriptions:
N - Active status of eligible participant without a contribution
0 - Participant Voluntary Contributions (to Employee VEBA)
1 - Employer Contribution (to Employer VEBA or to Grantor Trust)
V– Terminated – eligible for Reimbursement Benefit only (with EE assets, and ER contributions, if vested)
4 – Retired – met eligibility for Emeriti Health Insurance
6 - Death
F – Surviving (Eligible Dependent)
5 - Disabled
L - Leave of Absence
3 - Military Leave
Please Note: Each participant will have only one status code reported on the file; files with new status codes will override any prior status code that were submitted
Money Source Coding and Descriptions:
VEBA TRUSTS
Source F - Employer
Source K – Employee After Tax Contribution
Source D - ER- Insurance Subsidy
GRANTOR TRUST
Emeriti Tutorial

25. TIAA-CREF Plan Administrator Website
Getting Access for New Plan Administrators
You can register new plan administrators for Secure Access to the TIAA-CREF Plan Administrator website where important
tasks can be completed in an environment that is secure, fast and easy to use.
To add a new plan administrator –within TIAA-CREF Plan Focus Website.
Section One – Confirming users
Go to the “Plans” section of the website. Then, click “Add New Site User” under “Site Access.”
Section Two- Making Changes
Enter the new user’s name and address and select their user type, either Plan Administrator or Auditor. Then, click “Next” to
continue.
Section Three – Adding new users
Add new user’s personal information
* Please refer to TIAA-CREF- Plan Focus – User Access Guide Sheet and Point lead contact for quick review process.
Through Secure Access, you will be able to:
Run online reports for your Emeriti VEBA Trust and Grantor Trust plans
View your employees' accumulations, allocations and contributions within your Emeriti plan(s)
Send secure s to TIAA-CREF about your Emeriti plan(s)
Please note: hire dates, termination dates, participant enrollment and vesting may not be updated through the Plan Administrator Site for your Emeriti Plan.

26. Where to apply changes:
Updating data
Defining changes:
New hire
Termination – may be eligible for Reimbursement Benefit, but not eligible for Emeriti insurance
Retired – met institution’s retirement criteria for Emeriti Health Insurance; automatically eligible for Reimbursement Benefit
Leave of absence
Military leave
Deceased
Where to apply changes:
Remittance File.
When to apply changes:
Apply to your next file remittance (bi-weekly)
Emeriti Tutorial

27. Making contribution remittances
How to remit and fund contributions:
Submit Employer VEBA contributions for actives and identify the distinct source codes
When to remit contributions:
Currently bi-weekly
Good Order Letter process:
File is scrubbed w/in TIAA; individual processor informs plan sponsor that data is In Good Order (IGO), and gives institution the go ahead to remit funds.
Emeriti Tutorial

28. Where to apply termination and retirement status codes:
Applying termination retirement status codes and dates
Where to apply termination and retirement status codes:
REMITTANCE FILE
Where to apply termination and retirement dates:
REMITTANCE FILE
Emeriti Tutorial

29. Where to get forfeiture information:
Processing forfeitures
Where to get forfeiture information:
TIAA-CREF sends out a forfeiture report at the beginning of each month
Plan Sponsor can generate a report on the TIAA-CREF plan administrator website
How to apply forfeiture to institution’s plan:
Send Jim Dawson or and provide forfeiture direction
When to apply forfeitures:
Coordinate with future remittance
Emeriti Tutorial

30. Types of reports available for Emeriti Plan:
Obtaining reports for Emeriti Plan on TIAA-CREF website
Types of reports available for Emeriti Plan:
Source Plan balance (individual balance report also available)
Distributions
Contributions
Non-premium transaction report (fees)
Forfeitures
How to obtain reports:
Under reporting section of the TIAA-CREF Plan Focus website:
Emeriti Tutorial

31. Contacts Emeriti  TIAA-CREF  Christina Fendley Jim Dawson
(845) , NY 
Assistant Director, Implementation and Communications
TIAA-CREF
Jim Dawson
Client Services Consultant I Institutional Client Services
, CO 
Emeriti Tutorial

32. Disclosures
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 Tutorial