Retirement Plans

Woman at table considering retirement plan options

The University of Arizona offers multiple plans to help employees create a financially secure retirement.

Mandatory Retirement Plans

Most University employees who work at least 20 hours a week (.50 FTE) for 20 or more weeks within a fiscal year must participate in the ASRS or ORP retirement program.* Employees have 30 days from their date of hire/eligibility date to make a selection. This selection is irrevocable. Any employees who do not choose this 30-day window will default irrevocably into the ASRS.

Regardless of your retirement plan, you may schedule complimentary, virtual, or on-campus appointments with ABOR-approved investment providers, Fidelity Investments, or TIAA. You can also meet with CAPTRUST, an unbiased fiduciary, for help choosing a plan.

*Exemptions include UAPD, postdoctoral research associates, and nonresident aliens.  UAPD public safety officers participate in the State of Arizona Public Safety Personnel Retirement System (PSPRS). The employer makes a matching contribution, and full vesting occurs after 10 years of participation in the program.

Mandatory Plan Choices

Arizona State Retirement System (ASRS)

ASRS is a defined benefit plan. More about ASRS

Required contribution rate12.29% in FY 24 (pre-tax)

University match? Yes

Additional contributions? No

Waiting period: 27 weeks before contributions begin for new members

Investment choices: Managed by State of Arizona

Retirement benefit: Guaranteed monthly pension for life. The amount is based on years of service and average monthly salary. Learn more about how the pension is calculated.

Loans/Hardship withdrawals: None

Enter this Enrollment Code: 69V00040

Optional Retirement Plan (ORP)

ORP is a defined contribution plan. More about ORP

Required contribution rate: Fixed at 7% (pre-tax)

University match? Yes

Additional contributions? No

Waiting period: None. Contributions begin the pay period after enrollment

Investment choices: Managed by employee

Retirement benefit: The amount that accrues in the employee’s account. This depends on the market performance of chosen investments.

Loans/Hardship withdrawals: None

Enroll in the ORP both through UAccess AND with an investment company (Fidelity or TIAA). Chosen companies may be switched once a year with the investment company change form.

Fidelity Investments, Plan ID: 67444 
TIAA, Access Code: AZQ192

Compensation/Contribution Limits for Mandatory Plans

ASRS/PSPRS Annual Compensation Limits  ORP Annual Contribution Limits 
Contributions are suspended once an employee has earned the following amount in one year: Employee and employer can each contribute up to the following amounts:
Fiscal year If hired & enrolled by June 30, 1996 If hired & enrolled after June 30, 1996 Calendar year If hired & enrolled by June 30, 1996 If hired & enrolled after June 30, 1996
FY24 $490,000 $330,000 2023  $33,000 $23,100
FY25 $505,000 $345,000 2024  $34,500 $24,150

Supplemental Retirement Plans

All University employees, including those who are not eligible for the ASRS or ORP, can participate in these voluntary supplemental retirement plans to save more for retirement. Employees may enroll in either or both the Arizona University System 403(b) Plan or the State of Arizona 457(b) Plan.

Supplemental Plan Choices

403(B) Plan

The 403(b) is a retirement account where you choose from a mix of investment options. Withdrawals are permitted upon separation or after age 59½. 403(B) Guide 

Investment providers: Fidelity Investments or TIAA.  

Minimum contribution: $5/pay period

Rollovers into the plan: Allowed

Loans/Hardship withdrawals: Allowed

  Traditional 403(b) Roth 403(b)
Contributions: Tax free Post-tax
Withdrawals: Pre-tax Taxable Tax free

Plan ID: 55468
Enroll online using the button below or contact the Fidelity or TIAA representatives.

457(b) Deferred Compensation Plan

The 457(b) is a deferred compensation plan similar to a retirement account, but you may withdraw funds without penalty upon separation from service, regardless of your age. 457(B) Guide

Investment provider: Nationwide

Minimum contribution: $10/pay period

Rollovers into the plan: Allowed

Loans/Hardship withdrawals: Allowed

  Traditional 457(b) Roth 457(b)
Contributions: Pre-tax Post-tax
Withdrawals: Taxable Tax-free

Enroll online using the button below or call 800-796-9753.

Maximum Deferral Amount (MDA) Limited for 403(b) and 457(b)

MDA Calendar or plan year
  2023 2024
Annual MDA under age 50 $22,500 $23,000
Annual MDA if turning 50+ in plan year $30,000 $30,500
Catch-up contributions (age 50+) Contact your investment provider Contact your investment provider

Plan documents

Do you need more assistance? 

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