Benefits Plans - Retirement Savings Plans


U-M Retirement Savings Plan Options

Eligible Compensation and Limits

Enrollment and Changes

Investment Companies

Fund Choices


Cash Withdrawals, Rollovers, Transfers, and Loans

Retirement Income

IRS and Tax Matters

Life Events

Your Money Matters

More Information

About the U-M Retirement Savings Plans

The University of Michigan offers a two-for-one match of your retirement plan contributions after you complete a 12-month waiting period. Your retirement contributions are vested immediately. In addition to your Basic Retirement Plan contributions, you can establish a Supplemental Retirement Account, offering you even more income available to you upon retirement.

See Eligible Compensation for examples of compensation that are eligible to be deferred under the University of Michigan Retirement Savings Plan.


  • Quarterly Statements
    TIAA-CREF and Fidelity Investments are in the process of sending quarterly statements. Please keep in mind the amounts reported in your quarterly statements are one month off from when the deductions were taken from your paychecks, because TIAA-CREF and Fidelity report when your deductions were received by TIAA-CREF and Fidelity, not when deductions are taken from your paychecks. Learn more about quarterly statements.

  • Rollover Assets Eligible for Cash Withdrawal
    Effective immediately, individuals may elect a cash withdrawal of assets they have rolled into the Basic Retirement Plan while actively employed.  University approval for the distribution of rollover assets is not required.

    Rollover assets are amounts individuals have rolled into the Basic Retirement Plan from an IRA or a retirement plan through another employer.  This is typically done to consolidate retirement accumulations into a single account.

    Previously, rollover assets that went into the Basic Retirement Plan were not eligible for a withdrawal until termination of employment from the university.  This change does not allow individuals to cash out the staff member contribution nor the U-M contribution made to the Basic Retirement Plan while actively employed.

    As an alternative, assets from an IRA or another retirement plan may also be rolled into the 403(b) SRA and/or 457(b) Deferred Compensation Plan.  These two plans allow for a withdrawal of rollover assets at any time and also offer the option to take a loan.


Click the links below to download the retirement savings plan booklet and to view enrollment deadlines, or click the links at the top of the page for more information about the plan.

Resources & Tools

Ask the Experts

While the Benefits Office is happy to assist you, TIAA-CREF and Fidelity staff are standing by to answer your questions about their retirement funds and your options, and to help you update your address or beneficiary information.

Please Note
TIAA-CREF and Fidelity Investments are the only financial investment companies officially associated with the University of Michigan. No other financial investment company or individual financial planner has permission to use the university’s name or logo.

Have a Question?

Contact TIAA-CREF and Fidelity Investments for these inquiries and services:

  • Questions/help choosing a fund
  • Account and income information
  • Brochures and booklets on services and financial planning
  • Change of address
  • Change your Personal Identification Number (PIN)
  • Divorce, Qualified Domestic Relations Order (QDRO)
  • Forms for cash withdrawal, rollovers, transfers, income options
  • Income and payment methods (lifetime annuity, cash out, interest)
  • Schedule individual counseling; register for workshops
  • Tax questions (withdrawal penalty, minimum distribution, federal withholding)
  • Transferring between funds and between TIAA-CREF and Fidelity
  • Verify or change beneficiary



Next: Waiting Period for University Contributions

The University of Michigan in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents. Although the university has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. Nothing in these materials gives any individual the right to continued benefits beyond the time the university modifies, amends, or terminates the benefit. Anyone seeking or accepting any of the benefits provided will be deemed to have accepted the terms of the benefits programs and the university's right to modify, amend or terminate them.