Your financial story begins with one thing: you. From the first chapter to the last chapter, your financial strategy, including planning for retirement, guides the choices you make every day.
Get ready for a more efficient investment menu as part of the University's Retirement Savings Plan. Updates and additions will be made to the Plan effective March 16, 2018. In addition to many current and well-established funds, you may benefit from new options and resources tailored to help you plan for all the chapters of your life.
|What's Staying the Same?|
The basic design of the Plan, including eligibility, vesting, and contribution rates, will not change. The University matching contribution percentages will remain the same.
Streamlined investment menu with lower fees for certain choices
The Retirement Savings Plan will offer a streamlined investment menu that provides a mix of investment options to help you create a portfolio based on your financial goals and preferences. Some options will no longer be available in the core menu, and new selections will be added.
The University Retirement Oversight Committee, along with an independent financial advisor, Cammack Retirement Group, will continue to monitor this investment menu. In addition, these changes will allow the Retirement Savings Plan to reduce investment fees for certain options in the investment menu. More information about the streamlined investment menu can be found in the Streamlined Investment Menu Guide.
New self-directed brokerage account available February 14, 2018
The Retirement Savings Plan will make available a self-directed brokerage account, which provides access to more than 7,000 mutual fund investments for experienced investors and those who desire more investment choices.
If you currently invest in certain TIAA or Vanguard mutual funds that will no longer be offered in the new investment menu, you may be able to retain most of those investments by opening a brokerage account before the menu is updated on March 16, 2018. In general, fees apply to the brokerage account; however, you will pay no trading fees for transactions made in the brokerage account through June 15, 2018. Learn more.
New 457(b) plan offers the opportunity to save more*
The University of Pittsburgh will offer a 457(b) plan option for curently employed faculty and staff**. With the 457(b) plan, additional contributions may be deducted from your pay either pre-tax or after-tax as Roth. These contributions are made in addition to the 401(a) and 403(b) contributions. The 457(b) plan offers added flexibility in how you save. Learn more.
*Note: 457(b) plan provisions may be affected by tax reform.
**Note: MHSF employees are not eligible for the 457(b) plan.
Create Your Tailored Investment Strategy
The investment menu for the Retirement Savings Plan includes three tiers that offer a variety of investments from several mutual fund families. Create your tailored investment strategy based on your comfort level with investing. Choose one of the tiers below to learn more and get started.
Let Us Help You Write Your Own Financial Story
No matter what chapter you find yourself in life, you can always begin, change, and improve your story. Enroll in the University's Retirement Savings Plan, review your choices, or make changes to your selections, and get the storybook ending you deserve.
Get assistance with understanding how to tailor your investment strategy, or consider a refresher on all of your options. There are a number of ways in the coming months to learn about the changes being made to the investment menu. In-person, online, as a group, or one-on-one: TIAA can help.
|Information Sessions||Additional Resources|