Even if you were not in an eligible class, you will automatically become a participant on the date you complete a year of service. The University will make monthly contributions to participants Basic Retirement Plan. Contributions are based on your age, covered salary and the Social Security wage base. To participate, you must complete forms indicating your investment choices and your beneficiaries. Vesting Being vested means that you have a right to the value of your Basic Retirement Plan contributions and earnings when you leave the University.
More details concerning vesting are available.
Payments You may elect to receive your Basic Plan accumulations in a variety of ways. You choose what is most appropriate for you and your family members. Voluntary Retirement Plan Employees are immediately eligible to sign up for the Voluntary Retirement Plan. Utilization of the Voluntary Plan offers you a critical opportunity to build your retirement nest egg. Key to the growth of your accounts is the tax-deferred treatment of your contributions, as well as the investment allocations you choose.