| Benefits for UMass Faculty and Staff
Non-Benefited
Faculty & Staff
Required
Are required to contribute to the 457 deferred compensation retirement
plan ("OBRA".)
ING (formerly Aetna) is a Third Party Administrator (TPA) for the Plan.
About the plan:
http://www6.ingretirementplans.com/SponsorExtranet/Mass/
How
do I change my beneficiary?
When
can I / how do I withdraw my funds?
Additional
Retirement Savings Plans
OBRA / 457
You may choose to contribute additional earnings toward retirement above & beyond your required retirement contributions.
How: Your
Plan Highlights - FAQ
403(b)
The University's Tax-Deferred Annuity (TDA) Plan provides a unique savings
opportunity that is available to University of Massachusetts employees.
The Plan operates under Section 403(b) of the Internal Revenue Code.
Your contributions to the plan are made through payroll reduction, making
regular savings easy for you. The payroll system reduces your pay by
the amount of your contribution before it applies federal income taxes
to your check. There is no contribution from the University.
Your contribution is sent directly to the plan carrier of your choice
where it will be invested according to your instructions. Your plan
carrier will maintain an account that you own. You will direct how the
carrier manages your investments.
For questions and
forms related to the 403(b) program: Treasurer's
website
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