Find out about retirement options for contingent II employees.
In this section, you will find all of the information you need to make an informed decision about your employee retirement options. Please Note: Contingent II employees are not eligible for enrollment in State of Maryland Pension or Optional Retirement Programs.
Retirement Benefits Overview
UMGC retirement plans are based upon exemption status and employment classification, and for certain segments of our workforce, programs and participation are mandatory under state law. In addition to these state-mandated programs, UMGC offers supplemental retirement annuity (SRA) plans through several providers. These plans are open to all employees.
Supplemental Retirement Annuity Information—All Employees
All employees are eligible to participate in any of the supplemental retirement annuity (SRA) plans offered by the following providers: Fidelity Investments, TIAA and Maryland Supplemental Retirement Plans (MSRP) - Nationwide. Participation in an SRA is voluntary, and you may enroll at any time. The plans offered are: 403(b), 457(b), 401(k), and Roth plans.
Contributions to your SRA are deducted from your salary on a pre- or post-tax basis depending upon your choice of plans, and may be changed at any time during the year.
Once your employee account is established you will have access to the SRA plan links via UMGC’s internal platform, The Source. You will be able to enroll in an SRA plan within two weeks of receiving your first paycheck.
Questions?
Bring all questions regarding benefits and retirement enrollment with you on your first day.