Core and voluntary plans

Retirement options based on your benefits eligibility and hire status:

Benefit-eligible employees - Eligible for one of three core retirement plans. See plan descriptions below to determine your core plan. In addition, you may choose to participate in the University’s voluntary plans. See below for more information
Non-benefit-eligible employee - Some retirement plans are accessible to all faculty and staff, no matter their eligibility for other benefits

Looking for plan providers or health care providers?
Visit our plan contacts page for more information.

Defined Contribution (DC) Plan
Defined Contribution Plan
*If you are ...*	*Your core plan is ...*	*Your voluntary plan options are ...*
Active, benefit-eligible employee first hired on or after 10/1/2019 A returning, benefit-eligible employee who was rehired on or after 10/1/2019	The Defined Contribution Plan, consisting of: A defined contribution	403(b) 457(b) Supplemental Retirement Plan (SRP) 401(a)

Plan Design
Employee automatic deferral rate	8% (can be changed by the employee at any time)
Vesting period	3 years
Employer match	100% match ($1 for $1 match)
Total employer contribution at max match	Up to 8% of pay
Total employee + employer contribution at max match	8% + 8% = 16%
Suggested total savings rate	15%

Forms and guides

Hybrid Plan
Hybrid Plan (previously called Employee Retirement Investment Plan, or ERIP)
*If you are ...*	*Your core plan is ...*	*Your voluntary plan options are ...*
Active, benefit-eligible employee first hired on or after 10/1/2012 but before 10/1/2019 Returning, benefit-eligible employee hired on or after 10/1/2012 but before 10/1/2019, who was not vested upon termination Returning, benefit-eligible employee hired on or after 10/1/2012 but before 10/1/2019, who was vested upon termination and took a full retirement plan distribution	The Hybrid Plan, consisting of: A defined benefit portion (also known as a pension) A defined contribution portion	403(b) 457(b) Supplemental Retirement Plan (SRP) 401(a)

Forms and guides

Defined Benefit (DB) Plan
Defined Benefit (DB) Plan (previously called the Retirement, Disability, and Death Benefit Plan, or RDD)
If you are ...	Your core plan is ...	Your voluntary plan options are ...
Active benefit-eligible employee hired prior to 10/1/2012 Returning benefit-eligible employee who was hired on or after 10/1/2012 but before 10/1/2019 who was vested in the DB plan upon termination and did not take a retirement plan distribution	The Defined Benefit Plan, consisting of: A defined benefit portion (also known as a pension)	403(b) 457(b) Supplemental Retirement Plan (SRP) 401(a)

Forms and guides

Voluntary Retirement Plans (VRP)
Voluntary Retirement Plans
All faculty and staff, regardless of benefit eligibility, are able to participate in University-sponsored VRPs:	403(b) 457(b)
In addition, benefit-eligible employees, only, may participate in the Supplemental Retirement Plan:	Supplemental Retirement Plan (SRP) 401(a)

Forms and guides

Reviewed 2021-10-08

Notice of Nondiscrimination

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