University of Maryland Retirement Plan

106 employees reported this benefit
4.3
16 Ratings

Employer Summary

Employer Verified Available to US-based employees (Change location)

Employee Comments

Showing 1–10 of 16
Aug 30, 2020
Current Professor in Hyattsville, Maryland

TIAA CREF and state pension plan. You can also set up a supplemental contribution of your own with Fidelity

Jan 2, 2020
Current Employee

If you are full time salary employee they will contribute to your 401k

Jul 12, 2018
Former Employee

There are a few retirement plan options depending on your status as a Nonexempt or exempt employee.

Jun 16, 2018
Current Program Coordinator in Washington, District of Columbia

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

Jun 10, 2018
Current Administrator in College Park, Maryland

Given the way retirement packages are going, this is definitely a benefit.

Jan 16, 2018
Former Staff RN in Baltimore, Maryland

it was ok for me

Oct 13, 2017
Current Employee

They have a retirement plan that you can contribute part of your pay check to that goes towards your retirement

Sep 8, 2017
Former Employee

I like this, this helped significantly on saving for retirement.

Apr 28, 2017
Current Assistant Research Scientist in College Park, Maryland

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.

Aug 27, 2015
Former Employee

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.

Viewing 1-10 of 16