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.
For 2023, employees may contribute up to $22,500 annually ($30,000 if age 50 or older at any time in the calendar year) in pretax dollars to both the 403(b) and the 457(b) plans.
New Roth contribution option added on Aug. 1, 2023
A Roth contribution is an after-tax contribution to the UC 403(b) Plan or UC 457(b) Plan that gives you the opportunity for tax-free income in retirement. This is because qualified Roth distributions (including earnings) can be withdrawn free of federal income tax if certain guidelines are met. See information about the Roth option on myUCretirement.com to learn more.
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.