Optional Retirement Savings

Tax Sheltered Annuities 403(b)

The 403(b) plan is an optional retirement savings program that allows deferral of State and Federal taxes on up to 100% of gross salary to a maximum of $16,500 in 2010 through salary reduction. If you are age 50 or over, you may also contribute up to an additional $5,500 in 2010, for a total of $22,000. There is no University matching.

The University's 403(b) plan has three providers to choose from:

Fidelity
TIAA-CREF
VALIC

The 403(B) Program is administered by the Treasurer's Office.

Please call (774) 455-7586 or click here for more information about the 403(B) Retirement Plans, and how to open an account.

457 State Deferred Compensation Program (SMART Plan)

The SMART Plan is an optional retirement savings program that allows deferral of State and Federal taxes on up to 100% of gross salary to a maximum of $16,500 in 2009 through payroll deduction. If you are age 50 or over, you may also contribute up to an additional $5,500 in 2009, for a total of $22,000. The SMART Plan has a "Special Catch-up" provision which may allow you to contribute even more; certain restrictions apply. There is no University matching. Employees have a choice of investment options, including mutual funds. The plan is administered by Great-West Retirement Services. Employees must contact a representative from the SMART Plan to open an account.

Please call (877) 457-1900 or visit the SMART Plan website.

Click here for more information about the 457 Retirement Plan.

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Human Resources