Retirement for Faculty and Staff
This page is provided as a source of information concerning retirement benefits. All of the information has been reviewed for accuracy; however, policies and laws change. Therefore, should any part of this information conflict with any policy or law, the actual policy or law shall govern.
TABLE OF CONTENTS
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Mandatory Retirement Programs
TRSThe Teacher Retirement System of Texas (TRS) is a defined benefit retirement plan governed by Internal Revenue Code Section 401(a). All eligible employees of The University of Texas System are automatically enrolled in TRS on their first day of employment. Employee and employer contributions go into a large trust fund that is managed by knowledgeable professionals. Retirement benefits are based on legislatively determined formulas. You are vested after five years of service with a right to a retirement benefit. There are also disability and death and survivor benefits available to TRS members.
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ORPThe Optional Retirement Program (ORP) may be chosen by certain employees in lieu of TRS based on the job they perform. This program is a defined contribution plan governed by Internal Revenue Code Section 403(b). Benefits are based on the performance of the investments selected and are controlled by the employee. You are vested after one year and one day of participation with a right to both employee and employer contributions. This program provides a greater degree of portability than TRS. |
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An overview of TRS & ORP [PDF] |
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Voluntary Supplemental Retirement Plans
UT Saver DCP |
UT Saver TSA |
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UT System offers two voluntary retirement savings programs, the UTSaver TSA (403(b)) and the UTSaver DCP (457(b)). These programs allow you to tax-defer additional income for retirement, through pre-tax contributions. The programs do not include an employer contribution. Participants reduce their taxable income by making pre-tax contributions from their paycheck to invest in a fixed or variable annuities or mutual funds with an authorized company. As investments grow, the earnings are tax-deferred until the money is withdrawn; presumably at retirement when income tax rates are generally lower.
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Comparison of the UTSaver DCP and UTSaver TSA [PDF] |
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Manange your Accounts
UT Retirement Manager |
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UT System Retirement programs - Approved Providers
| Company Name / Web Address | Contact Name / E-Mail | Telephone / Fax |
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ING Financial Advisors, LLC |
Ty Edwards Dave Poppe |
Phone: Fax: Phone: Mobile: Fax: |
(210) 732-4868 (210) 732-2866 (210) 979-8277 (210) 573-5879 (210) 979-8295
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| Fidelity Investments www.fidelity.com/ut |
Sean Conti
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Phone: |
(800) 753-9127 |
Lincoln National Life Insurance Company
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Roland Tarry |
Phone: |
(512) 916-9890 |
| Metropolitan Life Insurance Company www.metlife.csplans.com |
Jens Busch jbusch@MetLife.com |
Phone: Fax: |
(512) 542-9321 (512) 970-8340
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TIAA-CREF |
Mike Benton Anthony Grannum |
Phone:
Phone: |
(866) 842-2952 (512) 241-3695 (866) 842-2952
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| AIG VALIC Variable Annuity Life Insurance Company www.aigvalic.com/utexasorp |
Darlene Rau deborah_rau@aigvalic.com |
Phone:
Mobile: |
(800) 892-5558
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