Benefits Plans - Retirement Savings Plans
- Find out if I am eligible
- Enroll
- Contribute the maximum
- Learn about IRS contribution limits
- Get forms
- Take a cash withdrawal
- Take a loan
- Re-enroll
- Cancel my SRA
- Cancel my Basic Plan enrollment
- Rollover to an IRA
- Transfer between TIAA-CREF and Fidelity
- Rollover money from a previous employer
into the U-M Plan - Reconcile my quarterly statements
- Choose a financial planner
- Change my beneficiary
- Change my address
- Change investment funds
About the U-M Retirement Savings Plans
The University of Michigan offers a two-for-one match of your retirement plan contributions — if you contribute 5% of your eligible gross salary, the university will contribute an amount equal to 10% of your eligible gross salary 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.
Announcements
- IRS Announces Retirement Plan Limits for 2012
The Internal Revenue Service (IRS) has announced the limits for contributing to 403(b) and 457(b) plans for 2012. The limit on 403(b) and 457(b) elective deferrals will increase to $17,000 for each plan, while the limit for individuals age 50 and older increases to $22,500 for each plan. For more information, including answers to frequently asked questions, please see Changing Your SRA/457(b) for 2012.
- TIAA-CREF presents questions and answers about stock market volatility on their website with updates as events unfold. Click here to view the FAQs.
- Fidelity Investments announces share class changes for two funds, effective July 5, 2011.
Links
Click the links below to download the retirement savings plan booklet and forms and to view enrollment deadlines, or click the links at the top of the page for more information about the plan.
- Retirement Savings Plan Booklet (PDF)
- Retirement Savings Plan Forms
- 2012 Retirement Savings Plan enrollment deadlines
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
TIAA-CREF
730
Third Avenue
New York, NY 10017
To schedule a departmental meeting or presentation, find out about TIAA-CREF financial education seminars or schedule on-site financial counseling, contact us at our local office:
TIAA-CREF Local Office:
333 Maynard St., Suite 500
Ann Arbor, MI 48104
(734) 332-3500
To schedule a personalized individual counseling appointment: call 800-732-8353.
Monday - Friday 8:00 am to 8:00 p.m. Eastern Time.
Telephone Counseling Center: call call 800-842-2252
Monday - Friday, 8:00 a.m. to 10:00 p.m.,
Saturday 9:00 a.m. to 6:00 p.m., Eastern time
To manage your account online, go to: http://www.tiaa-cref.org/umich
For more information about investment options with TIAA-CREF, you can view TIAA-CREF Financial Education Seminars on the Web.
Fidelity Investments Tax-Exempt Service Company
82 Devonshire Street
Boston, MA 02109
- Retirement
Services Specialists: call 800-343-0860
Monday - Friday, 8:00 a.m. to midnight, Eastern time - Internet Access: https://www.mysavingsatwork.com/atwork/um.htm
- To RSVP for U-M workshops or to schedule an individual counseling session, call 800-642-7131 or visit www.fidelity.com/atwork/reservations
- For information on seminars at the Ann Arbor Fidelity branch office visit: http://personal.fidelity.com/gen/centers/eMI.shtml
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.