The UAB Benefits Office has received multiple reports of fraudulent calls and emails from companies claiming to be authorized to discuss UAB retirement reports or offering retirement counseling to UAB employees in an attempt to gain information about UAB employees’ retirement accounts. Please be aware, representatives of the UAB Benefits Office and UAB’s retirement providers are the only entities authorized to discuss UAB retirement accounts. If you are contacted by other vendors claiming to be authorized, do not give out your personal information. Visit the HR Update page to learn more.
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Mandatory UAB Retirement Program
Teachers' Retirement 401(a)The Teachers' Retirement System (TRS) plan is a 401(a) plan and mandatory for certain employment categories. Please review the Benefit Eligibility Chart for a complete listing of eligible employment categories.
TRS is a defined benefit plan. Eligible employees who were a member of TRS prior to Jan. 1, 2013, (Tier 1) must contribute 7.5% monthly tax sheltered contributions up to the annual earnable compensation maximum. Eligible employees who were a member of TRS Jan. 1, 2013, or later (Tier 2) must contribute 6.2% monthly tax sheltered contributions up to the annual earnable compensation maximum. The salary cap only applies to employees hired on or after July 1, 1996.
TRS provides Tier 1 members retirement income at age 60 with 10 years or more of participating TRS service, or at any age with 25 years of participating TRS service. Tier 2 members are provided retirement income beginning at age 62 with 10 years or more of participating service. Should you terminate your service before qualifying for retirement benefits, contact the UAB Benefits Department for counseling and/or to apply for a refund of your accumulated contributions.
Retirement Provider: TRS -
Voluntary UAB Retirement Program — UAB
403(b) PlanUAB offers a voluntary 403(b) plan for eligible employee. Please review the Benefit Eligibility Chart for a complete listing of eligible employment categories.
The 403(b) plan is a voluntary, defined-contribution, tax-deferred as well as Roth after-tax plan governed by the Internal Revenue Code 403(b). TIAA is the administrator for the voluntary retirement program. Vesting in the 403(b) plan is immediate. UAB matches the individual’s contributions up to 5 percent of gross monthly pay not to exceed the IRS 401(a) annual compensation limit. Eligibility for matching is limited to full-time regular exempt employees.
457(b) PlanUAB also offers a voluntary, defined-contribution, tax-deferred as well as Roth after-tax plan governed by Internal Revenue Code 457(b). Similar to the 403(b) plan, the 457(b) plan offers the same expanded investment options, convenient payroll deductions, pre-tax as well as Roth after-tax contributions, and tax-deferred growth through TIAA. There are no UAB matching contributions under this plan.
Retirement Provider: TIAATIAA is the provider for UAB’s voluntary retirement programs and offers a choice as to the distribution of the total deposit to be placed in a variety of investment options to include fixed annuities, variable annuities and mutual funds.
- Provider Information
- TIAA Enrollment Instructions for UAB (PDF)
- TIAA Retirement Counseling: Schedule a one-on-one session with a TIAA representative who can help you answer questions about your retirement plans, see how investments are performing and if you are on track to meet retirement goals. Visit tiaa.org/schedulenow or call TIAA at 1-800-842-2003 to make an appointment. There is no additional cost to you for this service.
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Voluntary UAB Retirement Program — UAB Hospital Mgmt LLC
Voluntary 403(b) PlanUAB offers a voluntary 403(b) retirement plan for eligible employees. Please review the Benefit Eligibility Chart for a complete listing of eligible employment categories.
The 403(b) plan is a voluntary, defined-contribution, tax-deferred as well as Roth after-tax plan governed by the Internal Revenue Code 403(b). TIAA is the administrator for the voluntary retirement program. Employees are vested after three years of employment with the LLC. The Hospital matches the individual’s contributions up to 5 percent of gross monthly pay not to exceed the IRS 401(a) annual compensation limit. Eligibility for matching is for all full-time and part-time regular, twelve hour shift and weekend staff employees.
Retirement Provider: TIAATIAA is the provider for UAB’s voluntary retirement programs and offers a choice as to the distribution of the total deposit to be placed in a variety of investment options to include fixed annuities, variable annuities and mutual funds.
- Provider Information
- TIAA Enrollment Instructions for UAB Hospital Mgmt LLC (PDF)
- TIAA Retirement Counseling: Schedule a one-on-one session with a TIAA representative who can help you answer questions about your retirement plans, see how investments are performing and if you are on track to meet retirement goals. Visit tiaa.org/schedulenow or call TIAA at 1-800-842-2003 to make an appointment. There is no additional cost to you for this service.