How the Plans Work

The University of Miami offers you powerful, tax-deferred opportunities to save for your future. Take a few minutes to learn about key retirement savings plan features so you can get the most from this benefit.

Get to Know the Basics

The University’s Retirement Plans are 403(b) plans, and they hold your contributions as well as any core and matching contributions you may be eligible to earn.

Your Contributions

You can contribute a percentage of your eligible pay to the 403(b) Plan, in any combination of pre-tax and Roth contributions. The pre-tax option allows you to defer paying taxes on your contributions until you withdraw the money. With Roth contributions, you pay taxes now, then contribute to the plan. At retirement, you won’t pay any taxes on those contributions or any potential investment growth for a qualified withdrawal.* The total of your combined pre-tax and Roth contributions is limited to $23,000 in 2024 – or $30,500 if you are age 50 or older. You also have the option to contribute additional money (up to $69,000 in combined contributions from you and the University of Miami) on an after-tax basis if you want to save even more than the IRS contribution limit.

Employer Contributions

Once you become eligible, you may receive two types of employer contributions: core contributions and matching contributions.

You may receive core contributions each year and these will be credited to the University of Miami Retirement Plan. Eligibility and contribution amounts vary by plan, so check your plan details to learn more.

When you make contributions to your 403(b) Plan, you may also receive matching contributions from the University of Miami. Your matching contributions will be credited to the 403(b) Plan. Check your plan details to learn more.

*A distribution from a Roth 403(b) is tax free and penalty free, provided the five-year aging requirement has been satisfied and one of the following conditions is met: age 59½, disability, or death.

Adjust Your Contributions

Enroll in a Retirement Plan

Don’t wait for annual enrollment! Elect a deferral percentage today and you’ll initiate automatic contributions from your paycheck (beginning the next pay period or as soon as administratively possible).

Enroll Now

The Roth Option

You can optimize your retirement savings with the option to make Roth or traditional pre-tax contributions.

Explore the Roth Option

Watch a Short Video on Roth

Roth FAQs

Increase Your Contributions Automatically

Simplify your contributions by setting up an automatic increase to your contribution through the Annual Increase Program.

Learn More

Fee Disclosures

Learn more about fee disclosures below.

RSP Fee Disclosure

RSP II Fee Disclosure

RSP III Fee Disclosure

SRA Fee Disclosure

Faculty Plan Fee Disclosure

Investment Options

To meet the different investing styles of our employees, we offer a range of options for “do it yourself” investors who want to pick their own funds, and for people who want a professional to manage their investments for them. Think about what type of investor you are, then review plan-specific information to help you make the right savings moves.

Click the button below to learn more about your investment options.

See Investment Options