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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:
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%. Effective July 1, 2020, your salary deferral election will increase 1% annually on the anniversary of your hire date to a maximum of 15%. You may elect to change or cease contributions at any time.

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

$26,000 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. To receive credit for service at another eligible institution, you may complete the retirement service credit waiver in HRMS (Main Menu>Self Service>Benefits>Retirement Service Credit). Please remember to submit your service credit waiver within 90 days of your hire date so that we may process contributions retroactively.

University Direct Contribution Formula

The University Direct Contribution is 6.2% of your Base Salary, up to the breakpoint, then 10.5% of base salary in excess of the breakpoint, up to the IRS limit. For plan year July 1, 2020 - June 30, 2021, there is a temporary modification to the retirement contribution formula. The University will contribute 6.2% of your base salary up to $100,000.

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.

The IRS prohibits the termination of employment by an individual with the intent to be rehired in order to access funds in the Retirement Program of the University or members of its controlled group.

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To enroll, change investments, change your beneficiaries, and to view your account, visit or call 1-800-410-6497.

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.