All retirement services are now handled by Retirement Administration Service Center (RASC). Please contact RASC by email or phone (800) 888-8267 to discuss any retirement questions you may have.
The University of California Retirement System (UCRS) consists of a combination of programs for retirement income, including the UC Retirement Plan (pension plan) and Retirement Savings programs that include the Defined Contribution Plan, the 457 Plan and the 403(b) Plan.
The Retirement Handbook provides basic information about retiring from the University of California.
Visit our Steps to Retirement page if you are thinking about retiring in the next few years.
UNIVERSITY OF CALIFORNIA RETIREMENT PLAN (UCRP)
One of the most generous benefits of UC employment is the University of California Retirement Plan (UCRP) . UCRP provides retirement income for eligible employees and their eligible survivors or beneficiaries. Benefits are determined not by contributions to the Plan, but by defined formulas that vary according to the type of benefits payable. Please visit the UCRP page for more information.
RETIREMENT SAVINGS PROGRAMS
DEFINED CONTRIBUTION PLAN (DCP) – Pre-tax:
Faculty and staff not in UCRP contribute to the Defined Contribution Plan (DCP) on a pre-tax basis. Contributions to the DCP Pre-tax account are mandatory for those faculty and staff not earning service credit in UCRP. No vesting is required. DCP Pre-tax contributions belong to the employee but may not be withdrawn until an employee separates from the University of California. The employer does not contribute to this plan.
DEFINED CONTRIBUTION PLAN (DCP) – After-tax:
There is also an After-tax DCP account to which an employee may voluntarily choose to contribute. To sign up for the After-tax DCP, an employee must go the Fidelity Investments web site.
THE 457 PLAN
The 457 Plan is a tax-deferred voluntary retirement savings plan to which the employee may choose to contribute. Participation in the 457 Plan can begin at any time. Contributions may be invested in a variety of ways that you choose. The employer does not match your contribution. To sign up for the 457 Plan, you must go to the Fidelity Investments web site.
THE 403(b) PLAN
The 403(b) Plan is a tax-deferred voluntary retirement savings plan to which the employee may choose to contribute. Participation in the 403(b) plan can begin at any time. There are a variety of investments choices. Contributions may be invested in a variety of ways that you choose. The employer does not match funds. The 403(b) Plan has a loan feature where an employee may borrow funds from their account and then pay back their account. Interest charged for the loan also goes into the employee’s own account. To sign up for the 403(b) Plan, you must go to the Fidelity Investments web site.
Employees may contribute up to $18,000 annually ($24,000 if age 50 or older at any time in the calendar year) in pretax dollars to both the 403(b) and the 457(b) plans.
While UC is the administrator of the Retirement Savings Program, Fidelity Retirement Services provides the record keeping and account services for the Program. Visit their web site or call 1-866-682-7787 for questions about:
- Account Information
- Changing or canceling contributions to 403(b) or 457(b) plans
- Enrolling in 403(b) or 457(b) plans
- 403(b) loans
- Investment Performance Information
- Transferring Funds
FIDELITY INVESTMENTS WORKSHOPS AT UC MERCED
UC sponsors retirement education workshops conducted by Fidelity Retirement Services to help employees learn about investing for retirement and the steps they can take to help ensure retirement readiness. Learn more about the UC Financial Education Classes on UC’s Focus on Your Future website.