UVA_HRRetirement
Open Enrollment is now closed. You can make changes to your benefits if you have a "qualified life event." Learn more on the UVA HR Life Changes webpages.
All retirement planning sessions with TIAA, Fidelity, Voya and VRS are available through the signup links below. You can choose to meet virtually or in-person.
To learn how to make the most of your appointment, watch this video developed by TIAA.
UVA's retirement plans help ensure you have enough income to live comfortably after you retire. Depending on your employment status, you have the option to enroll in the Virginia Retirement System (VRS), Optional Retirement Plan (ORP), or Medical Center Retirement Program (MCRP). Through these programs, you also get benefits like life insurance, disability coverage, long-term care benefits, and survivor benefits.
What to Know
A 403(b) is a retirement savings plan available for employees in certain tax-exempt organizations. As a UVA employee, you can contribute through payroll deduction on either a pre-tax or post-tax (Roth) basis.
A 457 plan is a retirement savings plan that is available to employees of state and local governments. The 457 is offered by the Virginia Retirement System through Voya Financial. You can contribute through payroll deduction on either a pre-tax or post-tax (Roth) basis.
Contribution Limits for Supplemental Savings Plans 403(b) and 457 for 2026 may change, but will be announced in November. 403(b) and 457 Annual Contribution Limits for 2025:
- Age 49 and under: $23,500
- Age 50+ catch-up: Additional $7,500 (maximum contribution of $31,000)
- Super catch-up ages 60 to 63: Additional $11,250 (maximum contribution of $34,750)
- You can take advantage of this additional catch-up contribution if you attain age 60, but are not older than age 63, by the end of the calendar year.
- After the calendar year in which you have reached age 63, the standard Age 50+ Catch-Up limit will apply, meaning that those participants who are age 64 and older in a calendar year can only contribute up to the Age 50+ Catch-Up contribution amount.
Supplemental savings plans 403(b) and 457 allow you to invest additional money pre- or post-tax, and can be added or modified throughout the year. They are also available to most employees who may not have a retirement plan through VRS, ORP, or MCRP. Learn more and read detailed instructions on enrolling in a 403(b) plan on the 403(b)/457 webpage.
Cash Match: If you participate in the ORP, MCRP, or VRS plan, you are eligible for a cash match from UVA when you enroll in a 403(b) or 457 savings plan.
- VRS and ORP participants: Get a cash match from UVA of up to 50%, to a monthly maximum of $40 (ex.: save $80 / month to receive a maximum $40 match).
- MCRP participants: Get a cash match of up to 50%, to a monthly maximum of 2% of pay (ex.: contribute 4% of your salary to receive a maximum UVA cash match of 2%).
- Visit the VRS, ORP, or MCRP retirement pages to learn how you may be eligible to receive a cash match from UVA.
Open Enrollment is a great time to check in with your current retirement provider to review current holdings and retirement readiness, and to grow your knowledge about retirement options.