Retirement Savings

The retirement plan gives you the opportunity to save money for your retirement. Eligible employees over age 21 may begin making contributions on their date of hire.

How much can I save? Direct Link

  • You can save up to the annual IRS maximum. For 2023 it is: $22,500.
  • If you are 50 years or older you may contribute an additional $7,500 IRS catch-up contribution for a combined total of $30,000.
  • The money you contribute is always 100% vested.

What are my account options? Direct Link

  • Traditional 403(b) plan – your contributions are made before taxes are taken out.
  • Roth 403(b) – your contributions are made after taxes are taken out.

Is there a match? Direct Link

  • Yes. The employer match is 50% of the first 6% of your contribution and is deposited into your account quarterly. You will be vested as outlined in the table below. To be eligible for the match, you must work at least 175 hours per quarter. If that 175 hour mark is not met, employees will not receive the match for that quarter.

Vesting Schedule Direct Link

Employer Contributions are subject to a vesting schedule:

Years of ServiceVesting %
Less than 1 year0%
1 year25%
2 years50%
3 years75%
4 years100%

How is my money invested? Direct Link

  • You have a list of funds to choose from if you wish to direct your investments.
  • If you do not choose your investment option(s), contributions will be automatically deposited in the plan’s investment default.
  • For detailed information about your investment options, please contact Empower at or call by phone at 855-756-4738.

Loans & Hardship Withdrawals Direct Link

  • Loans and Hardship withdrawals may be taken from your account while still employed with the university.
  • Contact Empower for information and requirements for either option.

Rollover Contributions Direct Link

  • If you have an outside qualified retirement plan or account (401(k), 403(b), 457(b) or IRA), you may be able to transfer your balance into our plan.
  • Contact Empower at 855-756-4738 to learn more.

Retirement Education Direct Link

Review the 3 Decisions to Make When Enrolling in your 403(b) powerpoint to learn more about the UAGC 403(b) plan.