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.

Plan Features

  • If you were hired on or after September 30, 2002, the employer contribution is 4% and 100% vested after 24 months of continuous service

  • If you were hired prior to September 30, 2002, the employer contribution is 8% and 100% vested after 12 month 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.

Important notice if receiving retirement annuity:

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 a regular retirement program. An individual who is receiving a retirement annuity from an account to which any Commonwealth of Virginia agency contributed should contact UHR Benefits.

Medical Center Retirement Program Resources

Vendor
Website
Customer Service Schedule an Appointment Complete Investment Elections &
fund performances
TIAA-CREF 1.800.842.2733 Meet a Representative Plans & Investments
Fidelity 1.800.343.0860 Meet a Representative Plans & Investments