Medical Center Retirement Plan (MCRP)

The Medical Center’s Optional Retirement Plan is a “defined contribution” plan with retirement benefits based on tax-deferred accumulations. Accumulations are employer-provided contributions plus investment returns over the course of the participant’s working years. Investment options are available through Fidelity Investments or TIAA-CREF. A change in retirement plan vendor may only be made three times per year; however, investment options within a vendor may be changed at any time by contacting the vendor directly.

Medical Center Retirement Plan (MCRP) Plan Summary
Effective September 30, 2002Members Hired Prior to September 30, 2002Members Hired After September 30, 2002
MCRP Contribution Rates8 percent employer contribution4 percent employer contribution
Vesting100% after 12 months of continuous service100% after 24 months of continuous service

Full-time employees of the Medical Center who were members of the VRS Plan 1 or Plan 2 prior may be eligible to select enrollment in either the VRS or the MCRP. For more information about VRS, please see VRS Retirement Program. To contact VRS call toll free 1.888.827.3847 or visit their website.

Please Note: An individual may not receive a retirement annuity from the Virginia Retirement System (VRS) or one of the Optional Retirement Plans while the University of Virginia is making contributions to an Optional Retirement Plan authorized by the Code of Virginia. An individual who is receiving a retirement annuity from an account to which any Commonwealth of Virginia agency contributed should contact the UHR Benefits Division.


How to Enroll:


Medical Center Retirement Program Resources

TIAA-CREF
1.800.842.2733

Fidelity
1.800.343.0860