|Voluntary 403(b) Retirement Plan
Note: The University makes no contribution to this Plan.
Participation in the Voluntary 403(b) Retirement Plan through Fidelity Investments and Teachers Insurance & Annuity Association (TIAA) - College Retirement Equities Fund (CREF) is available to all regular full and part-time employees. This plan is designed for individuals who wish to make additional tax-deferred contributions to their retirement savings. Participation in the Voluntary Plan does not require a minimum contribution as does the standard University 403(b) Retirement Plan for faculty and professional staff. The University makes no contribution to the Voluntary Retirement Program.
Individuals may not tax defer more than the IRS limits. Please see the 403(b) Retirement Plan Annual Contribution Limits for further information. Employees interested in making a change to their current contributions must complete a new salary reduction agreement and an application if opening a new contract. The earliest a change or new withholding can be effective is the first of the month following the date of a newly signed agreement.
Eligible employees may participate concurrently in both Fidelity Investments and TIAA-CREF. There are various income options at retirement, including lifetime annuity income, fixed period annuities, deferred income, systematic withdrawals, lump sum withdrawals, and interest-only payments.
Please see the retirement plan vendors' interactive websites: Fidelity Investments and TIAA-CREF. Through a secure logon, employees can make allocation changes, change beneficiaries, and have access to retirement planning tools.
For more information:
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