KBOR Mandatory Retirement Plan

These are important details regarding this plan.


All unclassified employees working half time or more in a benefits-eligible position in the University System governed by the Kansas Board of Regents are required to participate in the Regents Mandatory Retirement Plan after completing one year of service. New employees may, under certain circumstances, be qualified to participate immediately.


As a participant in this defined contribution plan, you contribute a 5.5% of your annual gross salary through salary reductions. Your employer contributes 8.5% of your annual gross salary. These amounts are remitted to your selected Investment Provider each pay period.


Your employer offers you a variety of investment choices from an array of asset classes. You can see a list of the investment choices under this plan on the Investment Choices page.


Expenses vary from investment to investment. To learn about expenses associated with an investment, see a list of the investment choices under this plan on the Investment Choices page, and read the Fact Sheet or the prospectus for that investment.


When it's time to decide how to take income from your KBOR Mandatory Retirement Plan, you have a variety of options*:

Please note: You cannot access your funds while you are employed with a KBOR state university only individuals who execute phased retirement agreements are permitted to access a portion of the accumulated funds in their Regents Mandatory Retirement Plan.

  • 59½ in Service 

    You generally can withdraw funds, attributable to elective deferrals, from your account while still employed once you have reached age 59½. The amount you can withdraw is subject to your plan's rules. Talk to your benefits office for details.
  • 90-24 Transfer
    You can directly transfer your 403(b) funds from one approved financial provider to another under your employer's retirement plan, or to another 403(b) annuity contract or mutual fund under another plan, as your plan and contract permit. This transfer is not considered a taxable distribution.
  • Disability

    As permitted by your plan, you can withdraw elective deferrals and earnings from your retirement plan while employed by your institution but not working due to a disability. To qualify you must be totally and permanently disabled, and the deferrals and earnings must have been credited to your plan on or after January 1, 1989. Disability withdrawals are not subject to the 10% IRS penalty on withdrawals prior to age 59 1/2. 
  • Fixed Period

    You can choose to receive income for a set period of two to 30 years, depending on the terms of our contract and your plan's rules (and not to exceed your life expectancy). Payments stop at the end of the period, during which you will have received all your principal and earnings. 
  • Hardship Distribution

    If your plan permits, you can withdraw your elective deferrals (but not earnings) due to financial hardship while still employed. Generally, you must show an immediate, significant need that cannot be met with other resources, including loans from your retirement plan. 
  • Interest Only

    You can receive the current interest earned on your TIAA Traditional Account in monthly payments. Your principal remains intact while you receive the interest. (Note: These payments are generally available to individuals between ages 55 and 70 1/2 when minimum distributions are required.) 
  • Lifetime Retirement Income

    • One-life annuity

      Provides income for as long as you live.
    • Two-life annuity

      Provides lifetime income for you and an annuity partner (your spouse or someone else you name) for as long as either of you live.
    • One- or two-life annuity with guaranteed period

      guarantees income for up to 20 years, as long as the period you choose does not exceed your life expectancy. It ensures that income continues to go to your beneficiaries if you (one-life annuity) or both you and your annuity partner (two-life annuity) die before the end of the guaranteed period for the remainder of the guaranteed period.
  • Limited Periodic Option

    If your're over age 55, you can withdraw as cash up to 7% of your holdings in the CREF and TIAA Real Estate accounts (currently available only in plans funded with TIAA-CREF group retirement annuity [GRA] contracts that don't allow CREF cash).
  • Lump Sum

    You can withdraw all or part of your account in a single cash payment, depending on your plan rules and the terms of your contracts. (Your right to a lump-sum distribution from your TIAA Traditional Account may be restricted under those terms).
  • Minimum Distribution Option

    Generally, you must begin taking minimum withdrawals from your account by April 1 following the year in which you turn age 70 ½ or retire, whichever is later. This can help you defer the minimum required distribution while keeping you in compliance with federal regulations..
  • Rollover

    If you have had an IRS-defined "triggering event," and your plan allows withdrawals, you can roll over your accumulations to another retirement plan that will accept them or to an Individual Retirement Account (IRA). Direct rollovers -- from one account to another -- are nontaxable and not reported as income to the federal government. Your plan's rules specify when you are eligible for a distribution.
  • Retirement Transition Benefit

    If your contract allows, you can withdraw, in cash, up to 10% of your accumulation at the beginning of a conversion to lifetime annuity income. The amount you withdraw will reduce your lifetime annuity income accordingly. 
  • Single-Sum Death Benefit

    A set amount your beneficiary(ies) will receive from your retirement account if you die before taking income.
  • Small-Sum Distribution

    If your plan doesn't otherwise allow cash distributions, upon separation from service you can withdraw your entire retirement savings if your TIAA Traditional Account value does not exceed $2,000 and your overall account balance is below a limit set by your employer's plan (typically $4,000). If your plan does allow cash distributions, upon separation you may be able to withdraw your TIAA Traditional accumulation if the value does not exceed $2,000. 
  • Systematic Withdrawals

    If your plan allows, you can choose to receive regular income payments (minimum $100) on a semimonthly, monthly, quarterly, semiannual or annual basis. You can increase, decrease or suspend the payments at any time. (Note: These withdrawals are not available from TIAA Traditional Account balances.) 
  • TPA to Cash

    If your plan allows, you can withdraw your TIAA Traditional Account accumulation through a Transfer Payout Annuity (TPA) in 10 approximately equal annual payments. A lump-sum payment, subject to a surrender fee, may be available depending on your plan rules and the terms of your contract.

* The availability of certain distributions may depend on the type of contract underlying your plan. Also, if you're married, your right to choose an option may be subject to your spouses right to survivor benefits. Your KBOR Mandatory Retirement Plan is designed to provide you with income throughout your retirement. Leaving money in your account may allow the funds to grow on a tax-deferred basis. The KBOR Mandatory Retirement Plan allows you to receive a cash withdrawal. This may be restricted by the terms of your TIAA-CREF contracts Taxes and penalties may apply.


Retirement plan contributions are usually made with before-tax dollars, so federal income taxes are deferred until you begin taking withdrawals later on. The Kansas Department of Revenue has ruled that income derived from any approved Kansas board of regent’s 403(b) plan is exempt from Kansas State income tax.

If you are a legal resident of Kansas, the state requires you to complete an Income Tax Withholding Election Form for all distributions that you receive from TIAA-CREF. If you do not return the withholding form, the state tax default rate will apply.

Payments that are directly rolled over to an IRA or another retirement plan are not subject to state income tax withholding. Therefore, if your payments are being rolled over, no further action is required.

For cash payments ONLY, please keep in mind:

  1. There may be penalties for not paying enough state income tax during the year either through withholding or estimated tax payments.
  2. State tax withholding rates are subject to change.


This plan does not offer a loan feature.

1 The availability of certain distributions may depend on the type of contract underlying your plan. Also, if you're married, your right to choose an option may be subject to your spouse's right to survivor benefits. Talk to TIAA-CREF for details.