In this section, you will find all the information you need to make an informed decision about your employee retirement options. Bring your completed retirement forms and all specified information with you on your first day of orientation. Please complete all forms in black ink.
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. All employees are eligible to participate in an SRA.
Mandatory Retirement Plan Enrollment Information
Enrollment in a retirement plan is mandatory for all regular employees and 12-month collegiate faculty. For information about the programs that are available to you, select your employment status below. (Please refer to your appointment letter for employee status information.)
Exempt employees may enroll in either the Modified Employees Pension System or the Optional Retirement Plan (ORP) offered through one of two providers: Fidelity Investments or TIAA. You will be required to complete this election within your first week of employment. Elections are made online in UMGC Workday.
Modified Employees Pension System
Optional Retirement Plan
12-month faculty may choose either the Teacher Pension System or the Optional Retirement Plan (ORP) offered through one of two providers: Fidelity Investments or TIAA. You will be required to complete this election within your first week of employment. Elections are made online in UMGC Workday.
Teacher Pension System
Optional Retirement Plan
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.
To enroll in an SRA plan, visit Engage for information and forms. Once your account is established, you will be placed in an age-appropriate Life Cycle Fund. The vendor will then mail you a welcome packet with contract information and instructions on reallocating your funds.