The Supplemental Retirement Annuity Plan (SRA) enables you to make contributions to a retirement account on a pre-tax basis to Fidelity Investments or TIAA-CREF. The funds in your account, including any earnings on your investments, will not be taxed until distributed. Access to these funds is limited except as provided by law. For IRS Retirement Plan Limits, please click here.
If you are a participant in either the Employees’ Retirement Plan or the Faculty Retirement Plan, you may enroll in the SRA.
For step by step instructions on enrolling in the SRA, please click here.
If you need assistance with choosing your investments, you can speak with a Fidelity or TIAA-CREF representative by phone, or schedule a one-on-one appointment. They know all about your UM retirement plan, and are available to help you.
If you contribute to the 403(b) Supplemental Retirement Plan, you may withdraw the money you have contributed to the account at any time after separation from service or once you attain age 59 ½ . Options include:
Withdrawal options from your Voluntary Savings Supplemental Retirement Plan include:
• Rollover the distribution amount to a personal Individual Retirement Account (IRA). This option enables you to defer paying taxes until you begin withdrawing the funds from your IRA , OR
• Keep the lump sum distribution. (Funds you withdraw are subject to federal tax withholding and a 10% penalty if you are under 59 ½ years of age.)
• Monthly lifetime annuity.
Claim Your Benefit:
To withdraw the funds from your 403(b) Voluntary Savings Supplemental Retirement Plan:
1. Call the investment provider in which you have retirement assets and request a 403(b) distribution form.
2. Complete and submit the distribution form to HR-Benefits for approval of the withdrawal. You may submit the completed form:
• via fax at 305-284-4568
• via U.S. mail at HR-Benefits, P.O. Box 248106, Coral Gables, FL 33124-2902
Please allow 15 business days for distribution process and approval.