Supplemental Retirement & Savings Plan Overview
In addition to the Boston University Retirement Plan, you may also accumulate funds for your future retirement or other financial needs through the Boston University Supplemental Retirement & Savings Plan. Your contributions to the plan are made through payroll deduction and may be invested in any of the following investment vehicles: Teachers Insurance and Annuity Association (TIAA), the College Retirement Equities Fund (CREF), or any of the mutual funds managed by Fidelity Investments (Fidelity).
The contributions you make to the plan may at your election be used to increase the retirement income you receive under the University’s Retirement Plan and will add to the financial security you can build with Social Security and your personal assets.
You have the choice to pay no income tax on the money you contribute to the plan until withdrawal. In addition, investment earnings accumulate tax-free until withdrawal. Alternatively, your contributions to the plan may be made as Roth contributions on an after-tax basis to Fidelity Investments only. If you make Roth contributions, your investment earnings will accumulate tax-free and will be considered tax-free at the time of withdrawal as long as your withdrawal is qualified.
If you wish, you can view and print a copy of the entire Supplemental Retirement & Savings Plan description To see how certain life events may affect your Supplemental Retirement & Savings Plan benefits, visit Changes in Your Work & Family.