Treasurer's Office

University of Massachusetts' 403(b) Plan

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University of Massachusetts 403(b) Elective Deferral Savings Plan

The University's supplemental retirement plan, frequently referred to as a Tax-Deferred Annuity (TDA) plan or a Tax Sheltered Annuity (TSA) plan, is a defined contribution retirement plan that operates under Section 403(b) of the Internal Revenue Code. The Internal Revenue Service (IRS) on July 26, 2007 issued new 403(b) regulations. The new regulations amend the original regulations that were issued in 1964.  The new regulations generally became effective on January 1, 2009.

For a summary of the University 403(b) plan provisions, effective January 1, 2009, please click on the following link: 403(b) Key Provisions.  The University's 403(b) Plan provides a unique savings opportunity to University of Massachusetts employees. Your contributions to the plan are made through payroll deduction, making regular savings easy for you. There is no contribution from the University. The payroll system reduces your pay by the amount of your contribution before it applies Federal and Massachusetts state income taxes to your check.

Your contribution is sent directly to the plan carrier (also referred to as "plan provider"), which you select from among the University's approved providers, where it will be invested according to your instructions. Your plan carrier will maintain an account that you own. You will direct how the carrier manages your investments.

The three approved providers for the University's 403(b) Plan are as follows:
 


UMass

 www.plan.fidelity.com/umass

Plan ID: 50266

 UMass

 www.tiaa-cref.org/mass403b

 Access Code: UMASS403b

 

www.valic.com/umass

Access Code: 6933201


 

For more information about the University's 403(b) Retirement Plan, visit these links:

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