Retirement Services strives to ensure employees are aware of and utilize the resources and tools available as they deal with financial planning and retirement concerns. This includes educating new employees about their retirement plan choices and facilitating the retirement process as employees near the end of their career. As the employer, UF Benefits is the liaison between employees and the State of Florida’s Division of Retirement for the Florida Retirement System Pension Plan, the Florida Retirement System Investment Plan, and the State University System Optional Retirement Program.
Additionally, we administer plans to provide employees opportunities to maximize their retirement savings, including the UF 403(b) Plan, the UF Health Center 403(b) Plan, the FICA Alternative Plan, and the Special Pay Plan.
State Retirement Plans
Eligible employees will participate in one of three retirement plans administered by the State of Florida: Florida Retirement System Pension Plan, Florida Retirement System Investment Plan and the State University System Optional Retirement Program.
Health Center 403(b) Plan (AEF Retirement Plan)
Some Clinical Faculty at the Health Science Center are designated by their college or department to participate in the AEF retirement plan in addition to the State University System Optional Retirement Program.
Voluntary Savings Plans
Faculty, TEAMS, USPS, and OPS employees (including Housestaff/Residents, Graduate Assistants, Post Docs, and Adjunct Faculty) may participate in voluntary savings plans via payroll deductions. The University offers both 403(b) and Deferred Compensation (457) plans.
Retirement Plan Limits
The IRS sets limits on the amount of money that can be contributed to your retirement plan(s).
Special Pay Plan
Faculty, TEAMS, and USPS employees who receive vacation and/or sick leave cashouts of $5,000 or more participate in this plan.
FLARE (Financial Literacy And Retirement Education)
FLARE is a resource to assist in financial and retirement planning needs. The goal of FLARE is to provide the information you need to make educated decisions regarding personal finances and alleviate one more stressor in your daily life.