Supplemental Retirement Plans

All employees are eligible to participate in any of the Supplemental Retirement Plans (SRA) available through the University of Maryland. We offer a 403(b), 401(k), and a 457(b) plan.

There are three vendor choices: the Maryland Supplemental Retirement Plan (administered by Nationwide), Fidelity Investments, and TIAA CREF. Enrollment packets are available at the University Human Resources Office of Employee Benefits or from departmental Benefits Coordinators. Participation in the SRA is voluntary.

Contributions made to the SRA are deducted from your salary on a pre-tax basis. You may change the contribution amount, if needed, anytime during the year. The maximum allowable contribution for 2008 is $15,500 if you are under 50 years of age. If you are age 50 or older you may contribute an additional $5,000 annually for a total maximum of $20,500. Please contact the UHR-Office of Employee Benefits at (301) 405-5654 and ask for a Benefits Services Counselor for additional information regarding maximizing your contribution.

In addition to the basic limits, you may qualify to increase contributions through a "Catch-Up" Provision.

For 403(b) plans, you may qualify for the "Catch-Up" Provision if have worked for the University for 15 years.

For 457(b) plans, the "Catch-Up" Provision becomes effective during last three years prior to attaining normal retirement age.

The Pension Protection Act of 2006 changed the way the "Catch-Up" provision is calculated and applied. If you meet the qualifications above and you want to determine if the "Catch-Up" provision would apply to you, please contact your vendor and request a Maximum Exclusion Allowance (MEA) calculation.