Grow your retirement savings with CU's voluntary plans.

Want to put more money aside for your retirement? CU’s three voluntary retirement savings plans are a great way to supplement your basic retirement plan. You can enroll or adjust your contributions at any time, fees are low and each plan gives you the flexibility to choose your own investments or have specialists do it for you.

Note: You can enroll in any of the voluntary plans regardless of whether your mandatory retirement plan administrator is TIAA or PERA. You make all plan contributions and assume investment risks and rewards.

Voluntary Retirement Plan Guide

2020 contribution limits

CU Voluntary Retirement Plans
  CU 403(b)

PERA 401(k)


PERA 457
(pre-tax dollars) Roth Option (post-tax dollars)
Contribubtion limit $19,500   $19,500
Additional catch-up
contributions for ages 50+
$6,500 $6,500
Bonus catch up N/A If you’ve under contributed, you may be able to contribute up to twice the normal limit ($39,000) for three consecutive years before normal retirement age.
Aggregate limits

CU voluntary retirement plans combined contribution limit between the 403(b) and 401(k): $19,500
Combined contribution limit for age 50+ between these three plans: $26,000

Any combination of contributions made to the 403(b) pretax option, 403(b) Roth option or 401(k) cannot exceed these limits.

The PERA 457 has no aggregation limits with the 401(a), 401(k) or 403(b) plans.
Notes     If you’re enrolled in the CU 401(a) Mandatory Retirement Plan, you can’t contribute more than $56,000 a year to the CU 401(a) and the PERA 401(k).

This excludes the $6,000
catch up contribution.
 

Compare plans

  University of Colorado PERA
403(b)
 
403(b) ROTH
(after tax)
401(k)
 
457
 
Qualifying distributions Attain age 59 ½

Retirement

Severance of employment

Disability

Financial hardship
5-taxable-year period has passed

Attain age 59 ½

Retirement

Severance of employment

Disability

Financial hardship
Attain age 59 ½

Retirement

Severance of employment

Disability

Financial hardship
Attain age 70 ½

Retirement

Severance of employment

Disability

Financial hardship
Early withdrawal penalties Before age 59 ½ Before age 59 ½ Before age 59 ½ NO withdrawal penalties before age 59 ½
Plan loan provisions Limited* Limited* Limited** Limited**
Special catch-up contributions (as defined by the plan) None None None Limited***
 

*See plan document or contact a TIAA representative for further plan details.
www.tiaa.org/cu

 

**See plan information or contact PERA for further plan details.
PERA 401(k) plan information
PERA 457 plan information
www.copera.org

***PERA 457 additional catch-up information: For three consecutive years before Normal Retirement Age and if the participant has under contributed in prior years, the participant may be able to contribute up to twice the available contribution limit ($38,000) per PERA’s approval.

 

Choose a voluntary plan to learn more

CU 403(b) Voluntary Retirement Plan

PERA 401(k) Voluntary Retirement Plan

PERA 457 Voluntary Plan