Established under the Internal Revenue Code, Pitt manages two pension plans, the Defined Contribution Program, and the Noncontributory Defined Benefit Pension Plan.
Defined Contribution Program
This plan serves as the only option for newly hired faculty and staff at the University. Union employees should check their collective bargaining agreement for eligibility. If no election is made, eligible new hires, who are not eligible for the Noncontributory Plan, will be auto-enrolled into this plan with a 3% contribution rate. Defined under IRS code 403(b) and 401(a), the Retirement Benefit to be received under the Plan depends upon factors such as the amount of funds contributed, the investment returns on the funds contributed to over time, and the distribution or withdrawal option selected at the time of retirement. Employee contributions made between 3% and 8% of their base salary are matched by the University of Pittsburgh. Learn more »
Noncontributory Defined Benefit Pension Plan
This plan is only available to current participants. Union employees should check their collective bargaining agreement for eligibility. The retirement benefit to be received under this Plan is determined by a set formula, which takes into account salary and years of participation in the plan and age at retirement (University Funded Trust at Mellon Bank). Learn more »
An option to make supplemental pre-tax and Roth 403(b) after-tax contributions without a University matching contribution is also available to employees at the University.
View this site that describes the benefits for eligible pre and post 65 retirees. Learn More »
Pitt offers health insurance options for all types of students, fellows and postdocs. Learn More »