In addition to your primary (required) retirement benefits, you may need to save additional money to have the standard of living you want in retirement. The voluntary UC Retirement Savings Program offers a convenient, tax-advantaged way to save for retirement.
The program includes:
- 403(b) Plan — Pretax and new Roth contributions
- 457(b) Plan — Pretax and new Roth contributions
- Defined Contribution Plan — consists of the Pretax Account for mandatory contributions and the After-Tax Account for voluntary contributions and the taxable portion of rollovers from other employer plans.
You might be surprised by how much the IRS will let you contribute to the UC 403(b) and 457(b) in 2024. You can save up to $23,000 in any combination of pretax or Roth contributions to the 403(b) Plan, plus another $23,000 in pretax or Roth contributions to the 457(b) Plan. That's a total of $46,000.
Plus, if you are age 50 or older, you can contribute an additional $7,500, which means you can save a total of $30,500 in pretax or Roth contributions to each plan. That's a total of $61,000.
UC is the administrator of the Retirement Savings Program and Fidelity Retirement Services provides the record keeping and account services for the Program. See the
- Account information
- Beneficiaries
- Changing or canceling contributions
- Distributions
- Enrolling
- 403(b) loans
- Performance information
- Rollovers
- Transferring funds
Notice: Former employees, including former student employees, who contributed to the Defined Contribution Plan (DC Plan) and 403(b) Plan prior to July 1, 2005, may claim their funds by contacting the Retirement Administration Service Center. Read more about claiming retirement savings funds.
