The 403(b) Retirement Plan is UVM’s main retirement savings option. You can set aside money from your paycheck on a pre-tax or Roth (after-tax) basis, and your savings grow tax-advantaged until retirement.

Contribution limits are set each year by the IRS.

Employer Match

• UVM matches eligible employee contributions at 10% of pay.
• The match begins after a 2- or 3-year waiting period, depending on your position.
• If you’ve worked at another eligible employer, you may qualify to have this waiting period waived.
• Details about eligibility, waiting periods, and waivers are outlined in employee handbooks and union contracts.

Why choose the 403(b)?

• Employer match means more money toward your retirement.
• Flexible contribution amounts—you can increase or decrease at any time.
• Wide range of investment options through TIAA and Fidelity.

The 457(b) Plan gives employees another way to save for retirement beyond the 403(b). It’s a tax-advantaged deferred compensation plan that allows you to set aside additional funds for your future.

You can contribute a portion of your pay on a pre-tax or Roth (after-tax) basis. Your contributions and any investment earnings grow tax-advantaged until you withdraw them at retirement.

Key Features

• Designed for employees who want to save more toward retirement, in addition to the 403(b).
• Separate IRS contribution limits from the 403(b), which means you can contribute to both plans.
• Employees age 50 and older may be eligible for catch-up contributions, allowing additional savings beyond the standard annual limit.
• Investment options available through TIAA, Fidelity, or both.

Contribution limits are set each year by the IRS.

Complete details in the 457(b) Compensation Plan (PDF)

The Retirement Health Savings Plan (RHSP) helps you cover qualified healthcare expenses during retirement in a tax-advantaged way.

UVM makes automatic, tax-free contributions to this plan for benefits-eligible faculty and staff hired on or after January 1, 2012. You don’t need to contribute your own money to receive these employer contributions, though you may make additional contributions if you choose.

Key Features

• Automatic UVM contributions for eligible employees—no action required.
• UVM contributions are vested after 15 years of service.
• Tax-free growth and withdrawals when used for qualified healthcare expenses in retirement (age 65+).
• Managed through TIAA.

This plan offers an important way to prepare for healthcare costs later in life while reducing your tax burden.

Retirement Health Savings Plan - Overview (PDF)

Retirement Health Savings Plan - Summary Plan Description (PDF)

Hired before 2012 and still interested? All active benefits-eligible faculty and staff, regardless of hire date, may establish a Retiree Health Savings Plan and make voluntary contributions to the plan. If interested, complete the Retiree Health Savings Plan Election Form (PDF).