Tax Deferred Savings Program

The University of Virginia offers optional savings programs that allow employees to tax-defer income and invest for the future. The 403(b) plans are available through TIAA-CREF and Fidelity Investments and the Commonwealth Deferred Compensation 457(b) plan is offered through ING. Both plans are open to all employees who can contribute the monthly minimum of $20. The maximum amount that can be contributed on a tax-deferred basis in 2011 is $16,500 with an additional age catch-up of $5,500. The IRS contribution limits have changed for 2012. The maximum contribution is $17,000. If you are 50 years or older you may defer 22,500 in 2012. Employees who have been employed with the University for at least 15 consecutive years may be eligible for an additional catch-up of up to $3,000. Employees may participate in both the 403(b) and Commonwealth 457(b) and can contribute the maximum to both.

Note: Due to the Fall 2011 retirement program enhancement and investment line up changes, Vanguard funds will be available within the Fidelity platform beginning the week of October 23, 2011.

Cash Match

The University of Virginia offers an employer-paid match to employee contributions to tax-deferred savings programs. To be eligible, employees must be participating in the Virginia Retirement System, the Optional Retirement Plan or the Medical Center Retirement Plan.

For Medical Center employees hired on or after September 30, 2002 employee contributions will be matched at 50 percent up to 4 percent of salary, not to exceed a 2% employer match contribution. For Medical Center employees hired prior to September 30, 2002 who participate in the Medical Center Retirement Plan or any Medical Center employees who participate in the Virginia Retirement System regardless of their date of hire, employee contributions will be matched at 50 percent up to a maximum of $40.00 per month.

1. Complete Tax Deferred Savings Program Authorization Form

2. Enroll in 403(b) Plan
   TIAA-CREF 403(b)
   Fidelity 403(b)
   

3. Enroll in 401(a) Cash Match
   TIAA-CREF 401(a)
   Fidelity 401(a)
   

How to Enroll in the Commonwealth 457 Plan

1. Complete the 457 Plan Enrollment Form and send to UHR. Do not send directly to ING.

2. Enroll in 401(a) Cash Match
   TIAA-CREF 401(a)
   Fidelity 401(a)
   

How to Change Account Once Opened

Once an account has been opened, all fund changes must be made through the vendor. Deferral amounts are changed through UVa by completing a Tax Deferred Savings Program Authorization Form for TIAA-CREF or Fidelity. Deferral amounts for the 457 plan can be changed using a 457 Payroll Change Form.

---

Tax Deferred Savings Program Summary Information

Vendor Website	Customer Service	Schedule an Appointment	Fund Performance
TIAA-CREF	1.800.842.2733	Meet a Representative	403(b)  401(a)
Fidelity	1.800.343.0860	Meet a Representative	403(b)   401(a)
ING	1.877.327.5261	Call ING	457(b)

TDSP Payroll Change - Tax Deferred Savings Program Authorization Form

457 Payroll Change - 457 Payroll Change Form

457 Deferred Compensation Plan - Forms

457 Deferred Compensation Plan Calendar - Regional Meetings and Webinars

403(b) Plan Document

Medical Center Cash Match Plan Document

TDSP Universal Availability Notice

---