|
University of Massachusetts > Treasurer's Office > 403b Plan
The University's Voluntary 403(b) 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 and will generally be effective on January 1, 2009.
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 reduction, 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:
 Retirement
Online Enrollment now available at the new UMASS AIG Retirement Microsite. To visit the new website, check your account or enroll online click the following link:
Access Code: 23300
Online Enrollment now available at the new UMASS Fidelity Investments Microsite. To visit the new website, check your account or enroll online click the following link:
Plan ID: 50266
Online Enrollment now available at the new UMASS TIAA CREF Microsite. To visit the new website, check your account or enroll online click the following link:
Access Code: UMASS403b
**In addition, 19 new TIAA-CREF investment options (mutual funds) are now available to University participants, including TIAA-CREF's Lifecycle Funds. The complete list of investment options can be found on the microsite.
For additional information on the University's 403(b) Enhancements click here. 
For more information about the University's 403(b) Retirement Plan, visit these links:
To open and print a copy of the salary reduction form, visit:
UMASS Salary Reduction Form
University 403(b) One on One Financial Counseling Sessions
Upcoming University 403(b) One on One Financial Counseling Sessions
The PDF files on this page require the free Adobe Acrobat Reader.
|
This is an