Retirement Plans

UHA 401(a) Retirement Plan

This retirement plan is 100% employer contributions and is based on an employee’s UHA annual base compensation and completed years of service.  Contributions are capped at a salary of $275,000.  There is a two-year vesting period for this plan.  Eligibility begins the first day of the month following employment.

Years of vesting UHA Contribution
0-4 years 6%
5-9 years 7%
10-14 years 8%
15+ Years 10%

 

WVU 401(a) Retirement Plan

Employees are required to contribute 6% of their WVU salary.  They will receive a 6% employer matching contribution.  Contributions are capped at a salary of $275,000.  Vesting begins immediately.

Supplemental Retirement Plans

403(b) Retirement Savings Plan

All UHA and WVU both offer faculty members a 403(b) retirement plan. Contributions to this plan are employee only and can be pre or post tax.  The annual limit for 2018 is $18,500 and employees who are age 50 or over can contribute an additional $6,000 into the 403(b) catch-up option.  Eligibility to participate begins immediately.  It is recommended that faculty participate in the 403(b) plan either through UHA or WVU.

457(b) Retirement Plan

WVU offers faculty members the option to contribute to a 457(b) plan.  Contributions to this plan are employee only. There is a separate maximum limit of $18,500 for the 4579(b) plan as well as an additional $6,000 into the 457(b) catch-up option.  Therefore a faculty member can utilize UHA’s 403(b) plan and WVU’s 457(b) plan to fully maximize their retirement contributions.