Voluntary Retirement Programs
403(b) Plan
UAB offers a voluntary 403(b) plan for eligible employee. Please review the Benefit Eligibility Chart for a complete listing of eligible employment categories.
The 403(b) plan is a voluntary, defined-contribution, tax-deferred as well as Roth after-tax plan governed by the Internal Revenue Code 403(b). TIAA is the administrator for the voluntary retirement program. Vesting in the 403(b) plan is immediate. UAB matches the individual’s contributions up to 5 percent of gross monthly pay not to exceed the IRS 401(a) annual compensation limit. Eligibility for matching is limited to full-time regular exempt employees.
457(b) Plan
UAB also offers a voluntary, defined-contribution, tax-deferred as well as Roth after-tax plan governed by Internal Revenue Code 457(b). Similar to the 403(b) plan, the 457(b) plan offers the same expanded investment options, convenient payroll deductions, pre-tax as well as Roth after-tax contributions, and tax-deferred growth through TIAA. There are no UAB matching contributions under this plan.
Retirement Provider
TIAA is the provider for UAB’s voluntary retirement programs and offers a choice as to the distribution of the total deposit to be placed in a variety of investment options to include fixed annuities, variable annuities and mutual funds.
TIAA Enrollment Instructions (PDF)
If you have additional questions or need further assistance use the link to connect with the Benefits Office.