Retirement Plan

Full-Time Administrative Staff & Faculty

In an effort to provide employees with a convenient method of tax savings, financial planning and multiple investment options, the University of Bridgeport provides two Tax Deferred 403(b) programs. The plans are TIAA-CREF and AIG-VALIC.

The participating employee becomes immediately 100% vested in all contributed funds, including those deposited by the University.

Specific details are contained in the Summary Plan Document and Summary Plan Description. More detail information on both plans is available in the Human Resources Department.

Retirement Annuity (RA)

All administrative staff (full-time and regular part-time) and full-time faculty may choose to participate by contributing 3% of annual base salary. The University agrees to contribute a certain percentage of the base annual salary into the Retirement Annuity program. The percentage that the University will contribute to administrative staff (full-time and regular part-time) and full-time faculty will be determined each fiscal year based on budgetary constraints. In order to receive the University's percent contribution maximum, the employee must contribute three percent (3%).

Supplemental/Voluntary Retirement Annuity (SRA)

A qualified administrative staff (full-time and regular part-time) and full-time faculty member may contribute a voluntary specific amount or percentage to a supplemental retirement account with the carrier subject to limitations in Section 402(g), 403(b), and 415 of the IRS Code.

Note: All regular full-time and regular part-time administrative employees who work 1,000 hours or more per year are eligible to participate. All full-time Faculty are eligible to participate.