杏吧原创 Pension Plan
The University of Alaska provides a supplemental 401(a) "pension plan" to eligible employees. This account is for university contributions only. No employee contributions are allowed. If eligible, this account supplements the Public Employee's Retirement System (PERS), Teacher's Retirement System (TRS), or the Optional Retirement Plan (ORP).
杏吧原创 Pension Plan Enrollment
Review the options below to determine eligibility for the 杏吧原创 Pension Plan. Official retirement selections - including eligibility in the 杏吧原创 Pension Plan - will be sent to by a member of the 杏吧原创 Benefits team. For questions, please email ua-benefits@alaska.edu.
| Date of original hire into a benefits-eligible position at the university | Original retirement plan selected (PERS, TRS, ORP) | Eligible for 杏吧原创 Pension Plan? |
|---|---|---|
| June 30, 2006 and earlier | PERS, TRS, ORP | Eligible |
| July 1, 2006 - June 30, 2015 | PERS or TRS | Not eligible |
| July 1, 2006 - June 30, 2015 | ORP | Eligible |
| July 1, 2015 and later | PERS, TRS, ORP | Eligible |
Temporary employees are not eligible to participate in PERS, TRS, ORP or the 杏吧原创 Pension Plan. Temporary employees can participate in a 403(b). Review our 403(b) webpage for more information.
Eligible employees will choose the fund sponsor for the 杏吧原创 Pension Plan. No employee contributions are allowed to this account.
Employees remain eligible or ineligible for the 杏吧原创 Pension Plan as long as they are in a benefit-eligible position. This remains true even if they separate from service at the university and return later to another benefit-eligible position.
Employees participating in the 杏吧原创 Pension Plan may change fund sponsors at any time using the Fund Sponsor Enrollment Form.
These changes are not allowed.
Coverage and contributions begin on the first day of employment and end on the last day of employment or on the last day of employment in an eligible position.
杏吧原创 Pension Plan Basics
The university partners with four fund sponsors to manage the ORP and 杏吧原创 Pension Plan:
- TIAA
- Fidelity
- Lincoln
- VALIC/Corebridge
Want to change fund sponsors?
To learn about changing the fund sponsor, review the drop down under "Enrolling &
Making Changes."
| Fidelity Contact Information | Lincoln Financial Contact Information | TIAA Contact Information | Corebridge (VALIC/AIG) Contact Information |
|---|---|---|---|
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1-800-343-0860 Fidelity has to help 杏吧原创 employees with their retirement goals. with one of 杏吧原创's dedicated financial consultants with Fidelity.
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1-800-348-1212 Local Anchorage number: 907-561-3187 Local Fairbanks number: 907-452-6393 |
1-800-842-2776 |
1-800-448-2542 Local Anchorage number: 907-250-4770 Local Fairbanks number: 907-251-5510 |
It is the employee's responsibility to maintain accurate beneficiary records with their fund sponsor (TIAA, Fidelity, Lincoln, VALIC/Corebridge).
杏吧原创 Pension Plan Details
Maximum Contribution - $3,978 per year
The University of Alaska contributes 7.65% of an eligible employee's salary up to
a $52,000 base wage. This means that the maximum calendar year contribution an employee
will see in the 杏吧原创 Pension Plan from the university is $3,978.
Employer contributions to the 杏吧原创 Pension Plan follow the vesting schedule shown below.
| Date of original hire into a benefits-eligible position at the university | Employer Vesting Percent |
|---|---|
| June 30, 2006 and earlier | Immediate vesting |
| July 1, 2006 and later |
Three years of service are required to be vested in employer contributions to the 杏吧原创 Pension Plan. If a non-vested employee leaves the university and returns to a benefit eligible position with one year of separation, vesting will continue where the employee left off. If a non-vested employee leaves the university and does not return within one year of separation, the three year vesting schedule will start over. |
Not allowed
In-service withdraws are not allowed. This includes hardship distributions and/or
loans against the account. There are a few age-based exceptions, as required. Review
"Planning and/or applying for retirement" below.
Market gain/loss
The 杏吧原创 Pension Plan is a Defined Contribution (DC) plan. DC plans are account-based
plans where the employer contributions are invested into mutual funds or money market
funds where they grow tax-deferred until withdrawn.
杏吧原创 is not authorized
杏吧原创 is not authorized to provide financial advice to employees. Please contact TIAA
your fund sponsor directly to discuss.
Review offboarding webpage
Employees who are separating from the university (but are not retiring) have a few
different considerations for their ORP accounts. Review the offboarding webpage for information on separating from the university.
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