Voluntary Retirement Plans - 403(b), 457(b) and 401(a)
Get moving…toward the retirement of your dreams. Your core retirement plan provides a great foundation for your retirement savings. However, even with this plan and social security, most people find that they want to have additional savings to ensure a comfortable retirement. The Voluntary Retirement Plans allow you to save for retirement and reduce your tax bill at the same time. Make the most of this benefit by being an active participant in planning, saving and investing for your future retirement.
UM offers three Voluntary Retirement Plans - 403(b), 457(b) and 401(a). The plans are administered by Fidelity Investments and each includes investment options offered from a variety of mutual fund families across three tiers: Tier 1 -Target Date Funds; Tier 2 - a core lineup of carefully selected investments options including TIAA-CREF annuities (only available in the 403(b)); and Tier 3 - a self-directed brokerage account. Review the Investment Options section of the Getting Started Guide for more information on each of the funds offered.
As part of your Voluntary Retirement Plans, you have access to leading-edge online retirement planning tools, an easy process for enrollment, and access to no cost, confidential consultations with a retirement representative. Review the Getting Started Guide for information.
Visit www.netbenefits.com/umretirement to get moving towards the retirement of your dreams. You may also call 1-800-343-0860 for assistance.
The resources below are intended to help answer many commonly asked questions.
- Schedule a one-on-one consultation
- Voluntary Retirement Plans SPD - 403(b), 457(b), and 401(a)
- Supplemental Retirement Plan (401a) Information
- 2013 Dollar Limits for 403b and 457b Voluntary Retirement Plans
- Universal Availability Notice - applies to 403(b)
- 415 Limit Testing
- Investment Protection FAQs
- UM Voluntary Retirement Plans FAQs
Reviewed March 30, 2015.