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TIAA CREF and state pension plan. You can also set up a supplemental contribution of your own with Fidelity
If you are full time salary employee they will contribute to your 401k
There are a few retirement plan options depending on your status as a Nonexempt or exempt employee.
Pension or retirement savings account. The pension is hot garbage that only a moron would use, but the retirement plan is great. Employees can't contribute, but the University offers an automatic match of 7% of your salary
Given the way retirement packages are going, this is definitely a benefit.
it was ok for me
They have a retirement plan that you can contribute part of your pay check to that goes towards your retirement
I like this, this helped significantly on saving for retirement.
Can choose between a pension (which I regret not choosing) or a defined contribution plan. Once you choose the defined contribution plan, you cannot change to pension. If you select pension, you have 1 year to switch to defined contribution. Defined contribution is 7.25% of your salary; it is not a match, you get it whether you contribute or not. Two means to contribute , a 403b and a 457b, so if you have enough money, you can max out 2 retirement accounts.
You can save the maximum amount towards your 401K and UMD will contribute towards this too. I think it is 3.75% or something similar. You have a choice of TIAKraft and another financial - investment fore retirement. Both are good.
