Retirement Benefits

Preparing for a successful retirement is one of the biggest financial responsibilities you’ll face. USU’s retirement plans provide a strong foundation. Retirement plan options include TIAA, Fidelity, and Utah Retirement Systems (URS).

Employer-Funded Retirement Plans

401(a) TIAA / Fidelity

For new employees or rehired employees who were not previously enrolled in URS while they were working for USU, the university will contribute 14.2% of your annual gross earnings into a retirement account called a 401(a) plan. This is an employer contribution only plan, so all funds contributed come from the University. You may choose either TIAA or Fidelity, or a combination of both as your 401(a) plan administrator. Be sure to register online with TIAA/Fidelity to manage investments and set up the account. Vesting for the 401(a) is 100% on day one. Vesting is your ownership in your retirement plan. While many employers require you to work a set number of years for them before you own all your funds, USU gives you a 100% ownership on day one.

401(a) Summary Plan Description

Utah Retirement Systems (URS)

For employees who have been rehired by USU, if you were enrolled in the URS retirement plan during your previous employment period with the university, you must remain in URS as a rehire. If you had prior URS membership with another organization, you may choose either URS or the 401(a) option.

For employees enrolled in URS prior to July 2011, you are considered Tier 1. For employees enrolled after July 2011, you are considered Tier 2.

Employer Contributions to Retirement

For all employees new to Utah State University, 14.2% of your annual gross earnings will be deposited into a 401(a) retirement account. You may choose TIAA or Fidelity Investments or both, as your retirement program.

You designate how this contribution is invested among the investment options by completing the 401(a) Investment Provider Change Form.
Online FormPrintable Form

Saving for your future

In addition to the employer contribution to your retirement, you will be automatically enrolled in a 403(b) supplemental retirement Life-Cycle Fund with TIAA. The auto enroll will be set up to contribute 3% of your income pre-tax. 

If you want to opt out of this benefit you may do so by filling out the opt-out form, and returning it to the Human Resources office. 

If you would like to adjust this contribution please see section below about supplemental retirement contributions.

Employee-Funded Retirement Plans

Employees may wish to supplement the University’s contribution to their retirement, with a contribution of their own into an employee-funded retirement plan.

University offers several options of employee-funded retirement plans, which are 403(b), Roth 403(b), 457(b), and/or Roth 457(b). The University makes generous contributions into either a 401(a) or Utah Retirement System plan, which our employer-funded retirement plans (does not require a contribution from the employee) and because of this, the university does not make a matching contribution into any of the employee-funded retirement plans. Matching contributions refer to a retirement plan design, where an employer will match the contribution that an employee contributes into their retirement plan.

Changes can be made monthly, and must be turned in by the 15th of the month prior to the start of the contribution. Your contribution will occur through payroll deduction on either a pre-tax or post-tax basis, based on the plan elected. The 2019 maximum contribution is $19,000 per supplemental retirement plan, if under age 50. If over age 50, the maximum contribution is $25,000.

Learn more about 403b and 457 retirement plans

Retirement Forms and Options

Employee Pre-Tax Retirement Contribution 401k and 403b
OnlinePrintable

Employee Pre-Tax Retirement Contribution 457b
OnlinePrintable

Employee Post-Tax Retirement Contribution Roth 403b
OnlinePrintable

Employee Post-Tax Retirement Contribution Roth 457b
Printable

TIAA

Visit the TIAA website to update your personal information, beneficiaries and retirement investments/allocations. To contribute more to your retirement please turn in a supplemental retirement form.

TIAA website

Enroll online with TIAA
Customer Service: (800) 842-2252

TIAA Representative:
Ryan Peterson
(801) 883-5115
rdpeterson@tiaa.org

To schedule an appointment:
(800) 732-8353
www.tiaa.org/schedule

USU TIAA website
Schedule an appointment with a TIAA representative, research up-to-date information including fees, plans and options without a login.

Fidelity

Visit the Fidelity website to update your personal information, beneficiaries and retirement investments/allocations. To contribute more to your retirement please turn in a supplemental retirement form.

Fidelity website

Enroll online with Fidelity
Customer Service: (800) 343-0860

Fidelity Representative:
Teo Ngatuvai
(800) 642-7131
teo.ngatuvai@frm.com

To schedule an appointment:
www.fidelity.com/atwork/reservation 

USU Fidelity website
Schedule an appointment with a Fidelity representative, research up-to-date information including fees, plans and options without a login.

Utah Retirement Systems

Visit the Utah Retirement Systems website to update your personal information, beneficiaries and retirement investments/allocations. To contribute more to your retirement please turn in a supplemental retirement form.

URS website

Customer Service: (800) 365-8772

Watch the URS presentations
Tier 1
Tier 2

URS Representative:
Matt Brady
(801) 366-7334
matt.brady@urs.org

To schedule an appointment:
www.urs.org/general/counseling 

Getting Close to Retirement

Early and Phased Retirement

To be eligible for Early Retirement the employee's age and years of service in a benefited position must equal 75. There is a 5-year option or a 6-year option. In the 5-year option, employee's must be at least age 57.  The retirement incentive payment for the 5-year option is 20% of Base salary (salary at end of service).  The early retirement agreement will last for 5- years or until full social security age, whichever comes first. In the 6-year option, employee's must be at least age 56.  The retirement incentive payment for the 6-year option is 16.67% % of base salary (salary at end of service).  The early retirement agreement will last for 6-years or until full social security age, whichever comes first. Early Retirees may continue to participate in USU's medical and dental insurances.  The medical insurance ends when a retiree becomes age 65 or at the end of the early retirement agreement, whichever comes first.  The early retiree may participate in USU’s dental insurance for the life of the early retirement agreement. The retiree will pay their applicable share of the medical and dental premiums.

To be eligible for Phased Retirement, the employee must be at least 55 years old and have 5 years of continuous benefited service at USU.  The minimum FTE an employee may reduce to and continue to receive benefits is 50% FTE. Phased retirement employees will be entitled to benefits, for the duration of the agreement, at the same level attained prior to the effective date of the agreement. Annual and sick leave will be earned on a pro-rated basis according to the percent of time in the phased retirement agreement.

Participation in either the Early or Phased Retirement program is a privilege subject to department approval. For more information, please contact the HR Solutions Center: (435) 797-0122.

Regular Retirement

To retire from USU, write a letter of retirement to your department. Contact  your retirement company (TIAA, Fidelity or Utah Retirement Systems) and discuss the process they may need from you prior to your retirement. Please visit the Employee Exit Process Website.

Retirement Checklist

View retirement checklist form

Retirement Benefits

Upon retirement all USU benefits do not end. USU Benefits at retirement to learn more.

Retirement Beneficiary

If you would like information regarding your retirement beneficiary, you will need to contact that vendor directly by calling them or logging into their website.  Retirement customer service numbers and website links are listed above.

Emeritus Faculty

As retirees, emeritus faculty members are valued members of our campus community. USU offers continued benefits, support, and services to these faculty members.

Emeritus Faculty Benefits, Policies, and Procedures
Apply for Emeritus Faculty Status

Emeriti Association

Available to faculty and staff retirees, the Emeriti Association has events and benefits.

Emeriti Association Homepage
Emeriti Association Flyer
Join the Emeriti Association

Medicare

Medicare Resources