UHA Offers Several Retirement Plan Options
401(a) Corporate Retirement Plan
- 100% funded by UHA.
- Contributions begin the first day of the month following date of benefit eligible employment
- Vesting in the plan is after 2 years of benefit eligible employment
- Contributions are based on service and base pay rates
- TIAA is our retirement vendor
|Years of Service||% of UHA Contribution|
|15 years or more||10%|
403 b Supplemental Retirement Plan and 403(b) Roth Retirement Plan
- You can contribute up to IRS MAC* annually on a pre-tax basis. Pre-tax contribution are not subject to federal income tax (but is subject to Social Security taxes) and results in a deduction from your taxable income for that plan year.
- If you are age 50 or over, you can contribute an additional IRS CUC* per year.
- You are immediately vested in any of your contributions.
- Retirement is the only benefit that you can start, stop, or change at any time during the year.
Total contributions between the 403(b) Supplemental Retirement Plan and the 403(b) Roth Retirement Plan cannot exceed the MAC or CUC shown listed below.
- Mac for 2017: $18,000
- CUC for 2017: $6,000
Visit the TIAA – CREF website at: www.tiaa.org/uha.
Call TIAA at 800-842-2252
This hypothetical example is based on monthly contributions of $416.66 for Steve and Maria, made at the beginning of the month to a tax-deferred workplace savings plan and a 7% annual rate of return compounded monthly. Your own plan account may earn more or less than this example, and income taxes will be due when you withdraw from your account. Investing in this manner does not ensure a profit or guarantee against loss in declining markets.
For detailed information regarding your benefit coverage, please visit the HR website on connect.