You may begin participating a Voluntary Savings Plan at anytime, and immediately upon employment. These plans enable you to make contributions to a retirement account on a pre-tax basis to any of the following University approved companies. 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. In 2011, the contribution limit is $16,500 if under age 50 or $22,000 if age 50 or over.

If you were hired on or after June 1, 2007 or you are a participant in the Retirement Savings Plan, you will enroll in the RSP Voluntary Savings Account (UNIV. OF MIAMI RSP). If you are a participant in either the Employees’ Retirement Plan or the Faculty Retirement Plan, you will enroll in the Supplemental Retirement Annuity Program (UNIVERSITY OF MIAMI SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM). The enrollment process is the same for both plans.

For step by step instructions on enrolling in voluntary savings, 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.

Fidelity
1-800-642-7131

TIAA-CREF
1-800-732-8353

For more information, please contact HR-Benefits Administration at 305-284-3004.