Retirement Savings

The University Retirement Savings Plan serves faculty and staff as they save for retirement and consists of plans established under the Internal Revenue Code, which refers to the tax law in the United States. Pitt's plans are outlined below with links to more information about each plan, including eligibility, summary of the plans, and enrollment guidelines.

Currently retired from Pitt? Visit our Retirement page.

Retirement Savings for Current Employees

Newly hired employees are offered a Defined Contribution Plan through 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 Defined Benefit Plan (see below), will be auto-enrolled into this plan with a 3% contribution rate.

Defined under IRS codes 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 rate of return on investments, and the distribution 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. The University also offers an optional 457(b) plan for additional retirement savings.

More information is available on the Defined Contribution page.

Noncontributory Defined Benefit Plan

The Noncontributory Defined Benefit Plan has been phased out and is no longer offered to new participants. Only currently participating members of this plan can continue to receive benefits. Union employees should check their collective bargaining agreement for eligibility.

The retirement benefit to be received under this Plan is funded by the University through a trust at Mellon Bank, and is determined by a set formula which takes into account salary and years of participation in the plan and age at retirement. Guidelines and a summary of the Plan are available on the Noncontributory Defined Benefit Plan page.

Beneficiary Rules

Beneficiary rules cover important plan rules based on spousal rights.

Universal Availability

The University of Pittsburgh provides all employees with the opportunity to save for retirement through supplemental pre-tax and Roth 403(b) after-tax contributions without a University matching contribution. Whether you want to enroll in the plan, or you are already enrolled but wish to change the amount of your deferral, you can accomplish your goal by filling out a “403(b) Salary Reduction Agreement” through the online enrollment system. More information about this opportunity can be found by reviewing the availability notice (PDF).

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Retirement FAQ

Vesting refers to your right as the employee to receive the retirement benefit from the University, regardless of whether or not you remain employed at the University of Pittsburgh. In other words, vesting is referring to how long you have to be participating in a Pitt retirement plan in order to keep your University benefit.

The Vesting Period under the Defined Contribution Program (Contributory Program) is approximately three years with a 1,000 or more hours worked each calendar year. An individual is credited with 190 hours each month regardless of percent of effort and must be contributing to accrue vesting. Anything that you contribute in this program is yours to keep whether or not you remain working here at the University. The Vesting period under the Noncontributory Defined Benefit Pension Program is five years with 1,000 or more hours of participation in each calendar year.

If you’re vested in the contributory program, the University match increases from 100% to 150%, you can move the University match out of TIAA into Vanguard if you would like to, and the University’s portion becomes portable should you decide to leave Pitt.

One-on-one sessions with a representative from TIAA can be scheduled directly with the investment company. The company holds individual one-on-one sessions on campus, as well as offering telephone counseling sessions.

No, you can change the amount that is being deducted from your paycheck on a monthly basis.

Please note: Due to IRS regulations as well as University policies, the online elections are ALWAYS due to be on record the month prior to when you want to make the change. For example, if you would like to make a change for June 1, the change must be on record by May 31. You will see the change reflected in your June 30 paycheck. You can change the funds that you are invested in on a daily basis directly with TIAA.

An Online System through the University Portal is available to you seven days a week, 24 hours a day.

For your contribution election to be effective for any given month, you must enter the election prior to the start of the pay period for that month.

Log into the University Portal, at my.pitt.edu
Click on the “My Resources” tab
Select “Human Resources” from the drop-down list
Select “Retirement Savings Plan Access” located on the right side of the screen
Select orange “Manage Elections” button

If you need assistance to log into the portal, call the Technology Help Desk at 412-624-HELP (4357).

If you need assistance to make your election, contact the Retirement Plan Call Center at 800-682-9139.

You will do this on the “Retirement Savings Plan Access” page under the “My Account” section. If you need assistance to make your election, contact the Retirement Plan Call Center at 800-682-9139.

If you select the "Maximum" in the TIAA portal, this means you wish to contribute the current 402(g) limit (Retirement Savings for Current Employees) to your retirement savings account(s). If you select the Maximum, the University systems will calculate how much you have contributed to your accounts year to date and divide the total against your remaining payrolls.