Medical Center Retirement Program (MCRP)

MCRP is available to salaried employees, - not including Housestaff. If you are Housestaff, you still receive disability and life insurance coverage.

If you are a Medical Center employee who previously participated in VRS Plan 1 or Plan 2, you may be eligible to choose between MCRP and the Virginia Retirement System (VRS). If you choose VRS, you must fill out a VRS-65 form and return it to UVA HR.

• For new hires only, navigate to Workday>Inbox and follow the instructions for your new hire enrollment action
• Select specific investments from TIAA or Fidelity (make a specific fund choice, or you will be placed into the default investment plan)

• UVA contributes 4% of your annual compensation.
• You are 50% vested right away, and 100% vested after 24 months of continuous service.

Save more with a supplemental plan

• If you wish to contribute your own funds towards retirement with the opportunity for a cash match from UVA, you can open a supplemental 403(b) or 457 in addition to your MCRP.
• If you open a 403(b) or 457, UVA will match 50% up to a maximum of 2% of your salary, so contributing 4% of your salary gets the maximum UVA cash match of 2%. You are eligible for one cash match only.

• UVA contributes 8% of your annual compensation.
• You are 100% vested after 12 months of continuous service.

Save more with a supplemental plan

• If you wish to contribute your own funds towards retirement with the opportunity for a cash match from UVA, you can open a supplemental 403(b) or 457 in addition to your MCRP.

• UVA will match 50% up to a maximum of $40 per month when you set up a 403(b) or 457 retirement savings plan. You are eligible for one cash match only.

You may not receive a retirement annuity while UVA is making contributions to your account. If you are receiving a retirement annuity from any Commonwealth of Virginia agency, please contact UVA HR.

Please note that the Flex Credit benefit will no longer be provided effective January 1, 2023. View details in these FAQs.