Michigan Tech's retirement plan helps provide faculty and staff with the opportunity to accumulate a source of retirement income in addition to income from Social Security and personal savings. The money you contribute to the retirement plan belongs to you and is immediately vested.
Any regular employee in a position with an FTE of .50 or greater may participate in the university's matching retirement plan.
- Matching Plan: Defined Contribution Plan 403(b) Michigan Tech matches up to 7.5% employee contributions.
- Supplemental Plan: Deferred Compensation Plan 457(b) and Tax-Deferred Annuity Plan 403(b) is available to all employees who may want to allocate a percentage of eligible earnings or a flat dollar amount; funded entirely by the employee.
- Supplemental Retirement Account Enrollment/Change Form
- Supplemental 403(b) and 457(b) Comparison Chart
- TIAA-CREF How to Enroll Online
- Michigan Tech's TIAA-CREF Site
- FIDELITY Website
- Fidelity 403(b) Matching
- Fidelity 403(b) Supplemental
- Fidelity 457(b) Supplemental
- MPSERS Website
- Social Security Administration Website
Retiree Information (Former Employees)
Effective June 15, 2009, to be considered a retiree under Michigan Tech, an employee must be at least 60 years of age and their years of service + age must be equal to or greater than 80.
Retiree Health Insurance Premiums
Investment Oversight Committee
Michigan Technological University's Retirement Plan Oversight Committee chooses and monitors plan investment options. It is the intent of the Committee to provide a range of investment options that will enable participants to invest according to varying risk tolerance and savings time horizons.
As announced in the March 19, 2013 edition of Tech Today, the plan investment options for both TIAA-CREF and Fidelity Investments will be modified to help simplify the management of the investment options available while still providing employees ample choice and diversification.
To help employees understand what these changes mean, the Benefits Office will be sponsoring open forums for both vendors. TIAA-CREF will present on May 13th in the Memorial Union Peninsula Room at 9:00 a.m. and 3:00 p.m.
Fidelity Investments will present on Monday, April 8 in the Memorial Union Peninsula room at 10:00 a.m. and 2:00 p.m.
In addition, the Benefits Office has set time slots for one-on-one consultations with both vendors.
TIAA-CREF – you may sign up for a time by calling 866-843-5640:
- Tuesday, April 30, 9:00 a.m. – 4:00 p.m. (MUB Alumni Lounge B)
- Wednesday, May 1, 9:00 a.m. – 4:00 p.m. (MUB Alumni Lounge B)
- Monday, May 13, 12:30 a.m. – 5:30 p.m. pm (MUB Datolite Room)
- Tuesday, May 14, 8:30 a.m. – 11:30 a.m. (MUB Alumni Lounge B)
Fidelity Investments - you may sign up for a time by visiting www.fidelity.com/atwork/reservations:
- Tuesday, May 14, 9:00am – 3:00pm (MUB Conference Room 106A)