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Retirement 

Preparing for a successful retirement is one of the biggest financial responsibilities you’ll face. USU’s retirement plans provide a strong foundation.   Retirement plan options include TIAA, Fidelity, and Utah Retirement Systems (URS).

The plan you participate in may depend on when you were hired:

A. If you were hired on or after October 1, 2015 and have never participated in URS with Utah State University, you may choose TIAA, Fidelity Investments, or both as your retirement program. New hires to the University who have prior membership in URS with Utah State University must elect to enroll in the applicable URS plan.

B. If you were hired into a non-exempt position before October 1, 2015, you are enrolled in one of the URS plans as follows:

  • Tier 1 Plan - Employees hired into eligible positions on or before June 30, 2011.
  • Tier 2 Plan- Employees hired into eligible positions and first enrolled in a URS plan on or after July 1, 2011 through September 30, 2015.
  • Tier 1 Public Safety Plan - University Department of Public Safety police officers hired into eligible positions on or before June 30, 2011.
  • Tier 2 Public Safety Plan - University Department of Public Safety police officers hired into eligible positions and first enrolled in a URS plan on or after July 1, 2011.
C.If you were hired into an exempt position before October 1, 2015, you are enrolled in TIAA or Fidelity Investments. However, if you had prior membership in URS, you may have chosen to have the University continue contributing to URS on your behalf.

Employer Contibutions to Retirement


For all employees new to Utah State University, 14.2% of your annual gross earnings will be deposited into a 401(a) retirement account. You may choose TIAA or Fidelity Investments or both, as your retirement program. You designate how this contribution is invested among the investment options by completing the 401(a) Investment Provider Change Form online or Paper Form

Online Enrollment with TIAA
Online Enrollment with Fidelity

Employees who were previously in Utah Retirement Systems (URS) with Utah State University must remain in URS and need to complete this form within 30 days of hire.

Online Enrollment with URS

Saving for your future


In addition to the employer contribution to your retirement, you will be automatically enrolled in a 403(b) supplemental retirement Life-Cycle Fund with TIAA. The auto enroll will be set up to contribute 3% of your income pre-tax.

If you want to opt out of this benefit you may do so by filling out the opt-out form, and returning it to the Human Resources office. 

If you would like to adjust this contribution please see section below about supplemental retirement contributions.

All employees with benefits may make supplemental retirement contributions.

Changes can be made monthly, and must be turned in by the 15th of the month prior to the start of the contribution.  Your contribution will occur through payroll deduction on both the pre-tax and post-tax options. The 2018 maximum contribution is $18,500 per supplemental retirement plan, if under age 50. If over age 50, the maximum contribution is $24,500.  

Learn more about 403b and 457 retirement plans

Retirement Forms and Options

Retirement Enrollment

TIAA

Visit the TIAA website where you can update your personal information, beneficiaries and retirement investments/allocations. To contribute more to your retirement please turn in a Supplemental Retirement form found above.

USU TIAA Microsite: Information and Research

Customer Service: (800) 842-2252

Retirement Counseling is available at USU

TIAA Representative:
Ryan Peterson: 801-883-5115
email: rdpeterson@tiaa.org

To schedule an appointment: call (800) 732-8353 or visit www.tiaa.org/schedule.



Fidelity

Visit the Fidelity website where you can update your personal information, beneficiaries and retirement investments/allocations. To contribute more to your retirement please turn in a Supplemental Retirement form found above.

USU Fidelity Microsite: Information, Research, Schedule an Appointment With a Fidelity Representative

Customer Service: (800) 343-0860 

Retirement Counseling is available at USU

Fidelity Representative:

Teo Ngatuvai: (800) 642-7131
email: TEO.Ngatuvai@fmr.com




Utah Retirement Systems

Visit the Utah Retirement Systemens website where you can update your personal information, beneficiaries and retirement investments/allocations. To contribute more to your retirement please turn in a Supplemental Retirement form found above.

Customer Service:  (800) 365-8772

Watch the video of a URS presentation:
Tier 1
Tier 2

Retirement Counseling is available at USU

URS Representative:
Matt Brady: 801-366-7334
email: matt.brady@urs.org

To Schedule an appointment:
visit www.urs.org/general/Counseling.

Learn more about USU's optional Retirement Healthcare Savings Plan

Getting Close To Retirement

Early and Phased Retirement

 

To be eligible for Early Retirement the employee's age and years of service in a benefited position must equal 75. There is a 5-year option or a 6-year option. In the 5-year option, employee's must be at least age 57.  The retirement incentive payment for the 5-year option is 20% of Base salary (salary at end of service).  The early retirement agreement will last for 5- years or until full social security age, whichever comes first. In the 6-year option, employee's must be at least age 56.  The retirement incentive payment for the 6-year option is 16.67% % of base salary (salary at end of service).  The early retirement agreement will last for 6-years or until full social security age, whichever comes first. Early Retirees may continue to participate in USU's medical and dental insurances.  The medical insurance ends when a retiree becomes age 65 or at the end of the early retirement agreement, whichever comes first.  The early retiree may participate in USU’s dental insurance for the life of the early retirement agreement. The retiree will pay their applicable share of the medical and dental premiums. 

To be eligible for Phased Retirement, the employee must be at least 55 years old and have 5 years of continuous benefited service at USU.  The minimum FTE an employee may reduce to and continue to receive benefits is 50% FTE. Phased retirement employees will be entitled to benefits, for the duration of the agreement, at the same level attained prior to the effective date of the agreement. Annual and sick leave will be earned on a pro-rata basis according to the percent of time in the phased retirement agreement.

Participation in either the Early or Phased Retirement program is a privilege subject to department approval. For more information, please contact the HR Solutions Center: (435) 797-0122.

Early Retirement Video Presentation
Early Retirement PowerPoint Presentation

Regular Retirement

To retire from USU, write a letter of retirement to your department. Contact  your retirement company (TIAA, Fidelity or Utah Retirement Systems) and discuss the process they may need from you prior to your retirement. Please visit the Employee Exit Process Website.

 Retirement Checklist

View retirement checklist form

Retirement Benefits

Upon retirement all USU benefits do not end. USU Benefits at retirement to learn more.

Retirement Beneficiary

If you would like information regarding your retirement beneficiary, you will need to contact that vendor directly by calling them or logging into their website.  Retirement customer service numbers and website links are listed above.

Emeritus Faculty

As retirees, emeritus faculty members are valued members of our campus community. USU offers continued benefits, support, and services to these faculty members.

Emeriti Association
www.usu.edu/alumni/alumni_resources/emeriti_council

Medicare

Confused about Medicare options? Contact OneExchange for a personalized assessment.
For more information, you may go to: www.medicare.oneexchange.com or call (866) 322-2824.