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403(b) Retirement Program

The University Retirement Program, through its 403(b) Plan, helps you meet your retirement goals in two ways:

  • By providing a base of financial security through the Direct Contribution that the University makes on your behalf, and
  • By making it possible for you to save additional amounts on a tax-advantaged basis (Voluntary Contributions).

403(b) Retirement Program Overview

Eligibility for Voluntary Contributions

University of Rochester employees
(except students whose employment is incidental to their education at the University)

You can enroll or make changes at any time (no service requirement)

Automatic Enrollment:
Effective July 1, 2017, newly hired or rehired, regular full-time and regular part-time faculty and staff members will automatically be enrolled to make Voluntary Contributions*. Automatic contributions will be made from your pre-tax eligible compensation each pay period at 3%. You can choose to contribute more, less or to not contribute at all at any time. You may opt out within 60 days of becoming eligible to participate in the Plan and no contributions will be deducted from your paycheck.

Voluntary Contributions

Pre-Tax 403(b) - Tax-deferred Voluntary Contributions are deducted from your gross wages before amounts are taken out for income taxes and deductions.

Roth After-Tax 403(b) - With the Roth after-tax option, your contribution is taken out of your paycheck after your income is taxed.

Voluntary Contribution Limits

$18,500
$24,500 for those age 50 or older by December 31

Eligibility for University Direct Contribution

Regular full-time and regular part-time faculty or staff members with two years of service (see Service Requirement section).

Time-As-Reported (TAR) staff are eligible if the two-year service requirement is satisfied. TAR staff also must work a minimum of 1,000 hours per Plan Year to receive the University’s Direct Contribution.

Note: Some positions are ineligible for the University Direct Contribution – see Eligibility Chart for details.

Service Requirement for University Direct Contribution

Two years of service
A year of service means a 12-month period starting with the date you commence employment and any anniversary date thereof during which you complete 1,000 or more hours of service.
Note: Service completed at some institutions will count toward the two-year service requirement. Additional Information.

University Direct Contribution Formula

Effective July 1, 2017: 6.2% of base salary, up to the breakpoint ($55,623), plus 10.5% of base salary in excess of the breakpoint, up to the IRS limit ($270,000). Additional Information.

Investment Options

Faculty/staff decide how contributions are invested among a selection of professionally managed funds. For investment option details, visit TIAA.

*Some positions are ineligible for Automatic Enrollment in Voluntary Contribution and the University Direct Contribution – see Eligibility Chart for details.

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To enroll, change investments, change your beneficiaries, and to view your account, visit tiaa.org/Rochester or call 800-410-6297.


Investment Menu - View a variety of investment strategies that are available to you, consisting of a wide range of mutual funds from well-known financial providers.