Supplemental Retirement & Savings Plan
As part of the BU Retirement Savings Program, you may 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 Supplemental Retirement and Savings Plan are made through payroll deduction and may be invested in any of the following investment vehicles: Vanguard Target Retirement Funds, Core Mutual Funds, and Core Annuities. In addition, a brokerage account is available (see “Investment Choices” for details). Contributions are made through Fidelity Investments (Fidelity) and the Teachers Insurance and Annuity Association (TIAA).
The contributions you make to the Supplemental Retirement and Savings Plan may be matched by the University under the Boston University Retirement Plan (subject to certain eligibility requirements and limitations) 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 Supplemental Retirement and Savings 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 after-tax 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.