Established under the Internal Revenue Code, Pitt provides faculty and staff an opportunity to elect from two pension plans, the Defined Contribution Program, and the Noncontributory Defined Benefit Pension Plan. An option to make supplemental pre-tax and Roth 403(b) after-tax contributions without a University matching contribution is also available.
Defined Contribution Program
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. Learn more »
You may also consider the Roth 403(b) options.
Noncontributory Defined Benefit Pension Plan
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 »