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Learn about your health coverage options as a retiree of the University of Arkansas System.
Visit Fidelity's COVID-19 participant hub or TIAA's website for helpful resources on COVID-19 and what it means for your Retirement Plan.
The 403(b)/457(b) Retirement Plan is a defined contribution retirement plan. An employer, its employees—or both—make regularly scheduled contributions to an account set up in each participating employee’s name. Each account’s value depends on the amounts the employer and/or employee contributes, and investment gains or losses on those contributions.
Plan highlights:
You can invest the money in your Retirement Plan through TIAA or Fidelity. If you need help with your retirement plan investment options or you need personalized financial advice, schedule an appointment with a TIAA or Fidelity representative.
Keep the money in your account if you leave the University. Or, transfer the vested portion (the money you own) to another tax-qualified retirement savings plan. The vested portion is always yours.
If you elect to contribute more than 5% of your regular salary (pre-tax or after-tax Roth), the University will match your contribution, dollar-for-dollar, up to 10% of your regular salary.
There are two types of contributions you can make to your 403(b):
Note: You can only participate in the 457(b) Plan after you have reached the 403(b) Plan contribution limits before the end of each calendar year. To make a 457(b) contribution, contact your campus Human Resources.
There are two types of contributions you can make to your 403(b):
Note: You can only participate in the 457(b) Plan after you have reached the 403(b) Plan contribution limits before the end of each calendar year. To make a 457(b) contribution, contact your campus Human Resources.
There are two types of contributions you can make to your 403(b):
Note: You can only participate in the 457(b) Plan after you have reached the 403(b) Plan contribution limits before the end of each calendar year. To make a 457(b) contribution, contact your campus Human Resources.
There are two types of contributions you can make to your 403(b):
Note: You can only participate in the 457(b) Plan after you have reached the 403(b) Plan contribution limits before the end of each calendar year. To make a 457(b) contribution, contact your campus Human Resources.
There are two types of contributions you can make to your 403(b):
Note: You can only participate in the 457(b) Plan after you have reached the 403(b) Plan contribution limits before the end of each calendar year. To make a 457(b) contribution, contact your campus Human Resources.
There are two types of contributions you can make to your 403(b):
Note: You can only participate in the 457(b) Plan after you have reached the 403(b) Plan contribution limits before the end of each calendar year. To make a 457(b) contribution, contact your campus Human Resources.
In 2021, you can contribute up to the IRS annual limit of $19,500 to your 403(b). If you will be age 50 or older in 2021, you can contribute an additional $6,500 in catch-up contributions in 2021.
If you reach the 2021 403(b) contribution limits, you can contribute up to $19,500 (or up to $26,000, if you’re 50 years old or older) to the 457(b) in 2021.
The Retirement Buckets visual walks you through your account options, how much you can contribute to each account, and the difference between required and voluntary contributions.
The Retirement Buckets visual walks you through your account options, how much you can contribute to each account, and the difference between required and voluntary contributions.
The Retirement Buckets visual walks you through your account options, how much you can contribute to each account, and the difference between required and voluntary contributions.
You are vested automatically in your own contributions. This means you can take them with you if you leave the University for any reason.
You become vested in the University contributions if you:
If you are not vested when you leave University employment and return to the University after 30 or more days, your vesting period starts over. If you are vested when you leave University employment and then return as an employee at the same or another University of Arkansas campus, you will still be vested. Once you are vested in the University retirement plan, you are always vested.
After you have chosen the retirement plan vendor to use (TIAA or Fidelity), you must set-up your retirement plan account directly with the vendor.
You can participate with one retirement plan vendor at a time. Retirement income planning tools are available on the TIAA and Fidelity websites if you need assistance.
Contact your campus Human Resources for the form required to:
Note: When enrolling for the first time, you must complete an application with TIAA or Fidelity.
Changes to your 403(b) will be effective in the month you make them, as long as they are made before the applicable payroll processing date. You can also make a change at a designated future date.
Changes to your 457(b) will be effective the first day of the month following the date Human Resources receives your completed form. Contact your campus Human Resources for a copy of the form.
When you set up your retirement plan, you must elect a beneficiary—someone who will receive the money in your account if you die. It’s important that you review your beneficiaries at least annually to ensure the correct person will receive your benefit. To elect or change your beneficiary:
You must set-up and/or update your beneficiaries on the 403(b) plan and the 457(b) plan if you participate in both plans.
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Note: When enrolling for the first time, you must complete an application with TIAA or Fidelity.
Changes to your 403(b) will be effective in the month you make them, as long as they are made before the applicable payroll processing date.
Changes to your 457(b) will be effective the first day of the following month, since these changes must be made prospectively. You will be notified by your retirement plan vendor that you must complete a new application when your first 457(b) contribution is made (if you have not already completed this step).
To change your elections, follow the steps outlined in the Manage Benefits Job Aid.
Contact TIAA or Fidelity to schedule a free retirement planning session. Learn how to maximize your retirement savings, options for saving outside of your University 403(b) and 457(b), and steps you can take to prepare for retirement. All online sessions and webinars are posted to Documents. Check with your campus Human Resources to find the dates of any upcoming events on your campus.
The University no longer participates in the Arkansas Public Employees Retirement System (APERS) or the Arkansas Teachers Retirement System (ARTRS). If you were employed by the University and were a participant in either plan before the University stopped participating, you were allowed to continue participating.
If you transfer from one University of Arkansas campus to another and were participating in APERS at your prior campus, you can elect to participate in APERS at your new campus. Note: A transfer is defined as a break in service of 30 days or less. You cannot remain in ARTRS if you transfer campuses.
If you are a non-benefits-eligible University employee or enrolled with APERS or ARTRS, you can voluntarily participate in the 403(b) Retirement Plan. The University will not contribute to your account. Contributions can be pre-tax or after-tax. You can participate through TIAA or Fidelity.
Contact your campus Human Resources for a form to elect contributions or make changes to your account(s). When enrolling for the first time, you must complete an application with TIAA or Fidelity.
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