Employees can enroll in the CU 403(b) and choose whether to contribute funds before or after tax.
- The pretax option lowers your taxable income now. You'll pay taxes on your distributions in retirement.
- The 403(b) now offers a ROTH option. Consider the ROTH option if you want to contribute after tax, allowing for tax-free growth and tax-free distributions in retirement.
- Not sure which option is right for you? Consider scheduling a no-cost personal consultation with a TIAA financial consultant.
|Plan Features||403(b) pretax||403(b) ROTH
|Who can participate?||All CU faculty and staff|
|How much can you contribute?
|Catch-up contributions: $6,500|
|When are you vested?||Contributions to this account will be 100% vested immediately.|
|When can you take money out?|
|Loans: Contact TIAA to learn about eligibility
Under the CARES act, expanded loan provisions are available for eligible employees. Learn more.
||Target date funds: Take a hands-off approach where you invest in a target-date fund based on when you'd like to retire.|
|Core investment menu: From 18 funds on the 403(b) plan menu, you will be able to construct a well-diversified portfolio.|
|Self-directed brokerage: Seek and invest funds outside the 403(b) plan's core investment lineup.
Please note: Brokerage account holders are subject to fees.
|See investment lineup|
|What are the fees?||The administrative fee is 0.057% of your total balance for the services being provided.|