Living Comfortably in Retirement

Retirement

UPDATE -

All retirement planning sessions with TIAA, Fidelity, Mission Square (formerly ICMA) and VRS are now held as virtual meetings.  Appointments are available through the signup links below..

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.

Saving for Retirement

Supplemental savings plans 403(b) and 457 allow you to invest additional money pre-tax or after-tax. They are also available to some employees who may not have a retirement plan through VRS, ORP, or MCRP.

Listen to the Retirement Podcast on VRS, ORP, and UVA's 403b Transcript of Retirement Podcast

Choosing a Plan

There are two main factors that determine which retirement plans you are eligible for: your employment type (stated in your offer letter), and your hire date. Your choice is important, as it is permanent and affects coverage for disability, accidental death and dismemberment (AD&D), and life insurance. You have 60 days from your date of hire to select a retirement plan, otherwise you will be enrolled in VRS. View the ORP and VRS Side-by-Side Comparison under "Resources" on the right-hand column of this page.

  • Virginia Retirement System (VRS)

    You are eligible to enroll in VRS if you are: - University Staff - Faculty - Classified Staff - Research Associates - Research Scientists Medical Center Team members who previously participated in the VRS Plan 1 or Plan 2 may choose VRS over MCRP by filling out a VRS-65 form.

    Learn More

  • Optional Retirement Plan (ORP)

    You have the option to enroll in either VRS or ORP if you are: - University Staff Managerial & Professional - University Staff Executive - Faculty - Research Associates - Research Scientists Your choice between VRS and ORP is permanent, affecting coverage for disability, accidental death and dismemberment (AD&D), and life insurance. You have 60 days from your date of hire to select a retirement plan - otherwise you will be enrolled automatically in VRS.

    Learn More

  • Medical Center Retirement Program (MCRP)

    This program is available to Medical Center employees only.

    Learn More

  • 403(b) and 457 Supplemental Savings Plans

    If you are eligible for one of the retirement plans above, you may also have a supplemental savings plan. Housestaff, temps, and wage employees may also enroll in a supplemental savings plan.

    Learn More

Please contact the HR Solution Center at 434.243.3344 for additional information.

P.O. Box 400127, 2420 Old Ivy Road
Charlottesville, VA 22904-4127
434.243.3344 AskHR@virginia.edu
English Dutch French German Italian Portuguese Russian Spanish

Interested in Working at UVA?

View Careers
Privacy Policy Non-Discrimination and Safety Notices
© 2022 by the Rector and Visitors of the University of Virginia