All eligible employees can enroll in the 401(k) plan. This is a defined contribution plan that allows pretax contributions, which lowers taxable income. Participants save on taxes now and pay taxes only on distributions in retirement.

Plan Features 
Plan Administrator PERA/Empower
Who can participate? All CU faculty and staff.
How much can you contribute?

Minimum: N/A
Catch-up contributions:
2023 Combined limits:
When are you vested? Contributions to this account will be 100% vested immediately.
When can you take money out? Qualifying distributions
  • Attain age 59 ½
  • Retirement
  • Severance of employment
  • Disability
  • Financial hardship
  • Under the CARES act, eligible members can withdraw funds. Learn more.
Loans: Members can borrow from their account balances and pay back the loan with interest. Two types of loans are available: general and residential. Learn more
Investment choices You will have access to the PERAdvantage line of investments, which can accommodate whether you are comfortable making your own investment decisions or prefer a more hands-off approach. Target Date Funds are available based on your expected retirent date.

See PERA's voluntary plan website and related investment  lineup.
What are the fees? The administrative fee is a flat rate of $1 per month. Participants also pay a 0.03% total asset-based fee. Learn more.