UA Retirement Plan
The University of Arkansas Retirement Plan or “UARP” is a 403(b) and 457(b) defined contribution plan. That means your benefits are based on contributions made to the plan by you and UAMS, plus the growth or interest earnings of those contributions. This is the retirement savings plan for UAMS employees and employees at other University of Arkansas campuses. Employees can elect TIAA and/or Fidelity as their fund sponsor.
Note to APERS members: UA employees who had the option to elect the APERS retirement plan in the past, when they were hired, may remain in that plan. However, APERS is closed to new employees. If a UA employee who is enrolled in APERS leaves UA employment and subsequently returns to UA employment, they will be enrolled in the UARP.
All employees can contribute
Anyone who receives a paycheck at UAMS can make personal contributions to the UARP. However, the University match only applies to regular benefits-eligible staff and faculty. Employees ineligible for the match include temporary employees, employees working less than half-time, residents, and student employees; these employees can make contributions on an unmatched basis via Tax Deferred Annuities.
NEW: Effective July 2016, employees will be required to contribute a minimum of 1%. This percentage will increase by 1% each year until the mandatory employee contribution reaches 5% in July 2020. Also, the number of years one must work to become vested changes from 1 year to 2 years.
Feb 5 letter to employees
Mar 22 letter to employees
Retirement benefit scenarios (see how your personal contributions can impact your retirement benefit down the road)
Effect of 1% deduction from your paycheck
Once you select a fund sponsor – TIAA and/or Fidelity – UAMS automatically contributes a base amount equal to 5% of your salary. You are encouraged to contribute to your account as well. Your combined required and voluntary contributions over 5% are matched by UAMS up to 10%. Because the plan is a combo 403(b) and 457(b) plan, you can generally contribute up to two times the applicable IRS limit on tax-deferred contributions.
Employees employed through 6-30-2016 are vested after 12 continuous months of employment and participation in the plan. Employees hired 7-1-2016 or later will vest after 24 months. Vested means you are the owner of the monies contributed by the University.
Additional Retirement Information
How to reach your retirement contribution goal in 2016; new for 2017
Tips to help you:
- Maximize the UAMS match
- Contribute all you can on a tax-deferred basis (use the 2016 Excel calculation to help you; new 2017 calculation)
- Contribute all you can, tax-deferred and after-tax
- Contribute until the UAMS match maximum is reached, then stop
Retirement forms can be found on the Benefits Forms page.
If faxing, send to 501-686-5386. Keep the original and fax confirmation.
Benefit plan information on these web pages is in a summary format and is not intended to replace actual plan documents. UAMS reserves the right to amend or terminate all or any part of any benefit plan.