Supplemental Retirement & Savings Plan
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.
You are eligible to participate in this plan if you are an employee of Boston University (other than a leased employee or an employee who is a bona fide student who is enrolled in and regularly attending classes).
If eligible, you may begin participating in the plan on the next payroll following the receipt of your application.
Your contributions to the plan are made through payroll deduction and may be invested with one of the following investment account administrators: Teachers Insurance and Annuity Association (TIAA), the College Retirement Equities Fund (CREF), or the mutual funds administered through 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 can choose 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, through 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, see Life & Career Events.