The University of Toledo is committed to offering retirement programs that help build long-term financial savings. As part of this commitment, we are offering an additional 457(b) Deferred Compensation Plan through TIAA. The ODC 457(b) plan continues to be available as well.
Offering both 403(b) and 457(b) voluntary retirement plans provides the opportunity to double the elective contributions that can be set aside annually towards retirement.
You are eligible to contribute up to the annual IRS limits in both the 403(b) and 457(b) plans at UToledo. Your plan contributions also can be made as either Pre-tax, Roth or a combination of each within both plans.
“For those who have the ARP with TIAA for their primary retirement plan, it allows you to have the same vendor for that 401(a), 403(b) and this new 457(b),” said Mark Bercheni, senior director for total rewards. “TIAA is the only vendor to have elected to implement the 457(b) with us at this time.”
To enroll in the 457(b), visit our HR retirement website, then click on the yellow 457 tab. Open the “user guide for retirement@work” hyperlink and follow the enrollment steps to choose your contribution amount, investment funds and assign beneficiaries.
HR recommends that you contact a personal financial advisor to consult on your financial wellness. Vendor representative contact information is listed on the HR retirement website.
