Planning for retirement is an important part of financial wellness. The USD 403(b) Plan, administered by TIAA or Fidelity, offers a variety of investment options so you can start saving now.
To help you prepare for retirement USD allows all temporary, seasonal, and regular employees to contribute to the retirement plan. Employees can make voluntary salary deferral elections on 1/1/2025, or when they become eligible, whichever is later.
For employees who meet the eligibility requirements, USD contributes 10% of your eligible wages to your elected vendor (TIAA or Fidelity) each year. Review the current Summary Plan Description (SPD) for eligibility requirements.
You may also choose to contribute your voluntary salary deferrals on a pre-tax and/or Roth after-tax basis, up to the annual IRS maximums (see maximums below). Employer contributions are treated as pre-tax.
If you do not actively elect an investment provider, the default provider is TIAA. Employees may elect a provider online through the USD Retirement@Work site available on the MySanDiego portal Employee Resources tab under “Benefits Quick Links.” The T. Rowe Price target date fund is the Qualified Default Investment Alternative (QDIA) for participants who do not actively elect investment options for their retirement funds through TIAA and/or Fidelity. However, employees may choose their own investment lineup within the plan at any time.
Looking for some guidance? Representatives from TIAA and Fidelity are available for one-on-one counseling appointments.
Log in to USD Retirement@Work from the MySanDiego portal Employee Resources tab.
With Retirement@Work, you can:
Make sure to also register with your provider at www.tiaa.org or www.netbenefits.com/atwork to be able to make these changes:
USD partners with Transitions Benefit Group to deliver Medicare assistance to employees and their families. This service is available at no cost to you, and dedicated consultants are ready to assist with the following topics:
Visit www.transitionsrbg.com or call 800-936-1405 to get started.
USD offers eligible faculty, administrative, and staff members an opportunity to participate in our voluntary phased retirement program. This program allows participants to continue working at a mutually agreed upon work and salary reduction schedule while gradually phasing into retirement over a period of years. During this time, you are still eligible for retirement and other applicable employee benefits. The policy may be reviewed and modified, without affecting already existing contracts, at any time by request of the President.
Employees who retired from USD on or after January 1, 1988, with at least 10 years of service in a medical benefits-eligible position, may qualify for reimbursement of a portion of Medicare supplemental premiums, provided they are 65 or older, enrolled in Medicare, and not receiving employer-paid medical or dental coverage elsewhere. Additionally, employees who retire before age 65, but are at least 59 1/2 at the time of retirement, may become eligible for this reimbursement once they reach 65. For more information, please review Policy 3.11.4.
