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March 5, 2018

Retirement Program and Upcoming 403b
Match Rate Change Information

The updated University of Delaware Retirement Program has been available since Jan. 8. Remember to check out the plan's enhanced services, and expanded education, tools and resources online.

Schedule an advice session and become more familiar with the streamlined investment lineup.

Easier to plan and invest

Visit your account and look at the new features to see how they can help you create the future you want:

  • Consider your contributions. You will be able to make changes faster with the new online salary deferral feature that replaces the manual paper form processing.
    • Remember, for full-time faculty and exempt staff (not participating in the State Employees’ Pension Plan) the University match is changing July 1, 2018. You can increase your contribution to 5% today, or future-date it for July 1, 2018. To change or view your current contribution amount, login to your account, and select My Account–Actions-Change your contribution.
    • Take full advantage of the increased contribution limits for 2018. If you were contributing a flat dollar amount, you may need to update your salary deferral amount to keep you on track for your savings goal. For 2018, the annual maximum on employee elective deferrals is $18,500. Employees who are age 50 or over can also make catch-up contributions of $6,000.
  • Review your beneficiary designation and confirm your information is correct. As part of the transition, new accounts were created in January and many of them have the default designation of “Estate.” Go online today to make sure your beneficiary information is up to date. When you login to your account, you will select My Account–Profile–Add/edit beneficiaries.
  • Learn more about the 457(b) plan to understand all your contribution options and additional ways to save for retirement.

Help is available

You are eligible to receive Retirement Program investment advice—on the phone, online or in person— at no additional cost to you. Call 800-732-8353, weekdays, from 8 a.m. to 8 p.m. (ET) or go online to schedule a one-on-one consultation with a TIAA financial consultant to get answers to your questions or develop an action plan to pursue your retirement goals.

Human Resources

This message has been approved by Darcell Griffith, interim chief human resources officer