Optional Retirement Plans
Optional retirement plans through Fidelity, TIAA-CREF, American Century and VALIC are available to faculty and administrators at time of hire. These plans are defined contribution plans. Employees are vested immediately. Your retirement benefit depends on the value of the plan and your selected method of withdrawal at the time of your retirement.
The University contributes 9.24% of your gross salary and you contribute 5% of your gross salary to either of these plans. Choosing one or more of these optional plans give you flexibility to invest your retirement funds in fixed income securities, bonds, equities or a combination of these. Plan documents are available in the Human Resources Department.