{"id":189,"date":"2023-08-29T15:04:26","date_gmt":"2023-08-29T19:04:26","guid":{"rendered":"https:\/\/web.uri.edu\/hr\/?page_id=189"},"modified":"2025-12-23T16:09:53","modified_gmt":"2025-12-23T21:09:53","slug":"retirement","status":"publish","type":"page","link":"https:\/\/web.uri.edu\/hr\/benefits\/retirement\/","title":{"rendered":"Retirement"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Retirement Savings Plans<\/h2>\n\n\n\n<p>URI has two types of retirement plans based upon your job title classification:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Employees who are non-classified, faculty, or professional staff working at least 20 hours\/week may be eligible for the RIOPC 403(b)<\/li>\n\n\n\n<li>Classified employees working at least 20hours or more will be enrolled in the ERSRI state hybrid pension plan.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">RI Office of Post Secondary Commissioner (RIOPC) Joint Alternate Retirement Plans:<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"403b\"><strong>403(b) Retirement Choice Defined Contribution Plan<\/strong><\/h3>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/web.uri.edu\/hr\/benefits\/retirement\/eligibility-guidelines\/\" data-type=\"page\" data-id=\"2829\">Eligibility Guidelines and Contribution Forms<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/web.uri.edu\/hr\/benefits\/retirement\/plan-sponsor-tiaa\/\" data-type=\"page\" data-id=\"2831\">Retirement Plan Carrier<\/a> &#8211; TIAA CREF<\/li>\n\n\n\n<li><a href=\"https:\/\/web.uri.edu\/hr\/benefits\/retirement\/ri-office-of-postsecondary-commissioner-cope-medical-retirement-plan\/\" data-type=\"page\" data-id=\"2980\">RIOPC COPE Medical Retirement Plan<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/web.uri.edu\/hr\/benefits\/retirement\/applying-for-social-security\/\" data-type=\"page\" data-id=\"2837\">Social Security&nbsp;Administration Benefit<\/a><\/li>\n\n\n\n<li><a href=\"http:\/\/www.medicare.gov\/\">Medicare.gov<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/web.uri.edu\/provost\/forms-policies\/phased-retirement\/\">Phased Retirement Option for Tenured Faculty<\/a><\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><section class=\"cl-wrapper cl-boxout-wrapper\"><div class=\"cl-boxout  \"><h1>Thinking about Retirement?<\/h1>\n\n<p>Contact <a href=\"mailto:benefits@etal.uri.edu\">benefits@etal.uri.edu<\/a> to discuss your eligibility.<\/p>\n\n<\/div><\/section><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Elective Deferral Contribution Limit<\/h3>\n\n\n\n<p>The IRS has announced adjustments in the 403(b) and 457(b) elective deferral contribution limit for 2024. The limit is $23,000. The catch-up contribution limit for people age 50 and over is $7,500.<\/p>\n\n\n\n<p>If you would like to make a change to your 403(b) or 457(b) elective deferral contribution, please contact 401.874.2533.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"ERSRI\">Employee Retirement System of Rhode Island (ERSRI)<\/h3>\n\n\n\n<p>Eligible Classified Employees are enrolled in the hybrid ERSRI retirement&nbsp; where you contribute 5% of your biweekly salary to a 401(a) and 3.75% of your biweekly salary to the state pension.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.ersri.org\/members\/tiaa-defined-contribution-plan\" target=\"_blank\" rel=\"noreferrer noopener\">Rhode to Retirement New Hire Information for TIAA 401(a) plan<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.tiaa.org\/public\/support\/forms\/beneficiaries\" target=\"_blank\" rel=\"noreferrer noopener\">Rhode to Retirement Update Beneficiaries for TIAA 401(a) plan<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.ersri.org\/\">ERSRI Employee Retirement System of RI web site<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.ersri.org\/members\/faq\">ERSRI Pension plan FAQs<\/a><\/li>\n<\/ul>\n\n\n\n<p>For additional information regarding your pension plan login to your <a href=\"https:\/\/www.ersri.org\/members\/how-to-log-in\">ERSRI Retirement Account.<\/a> Use your Projection Tool to determine when you are eligible for State Retirement.&nbsp;<\/p>\n\n\n\n<p>Are you transferring from a Classified to a Non-Classified Position?<br><a href=\"https:\/\/web.uri.edu\/wp-content\/uploads\/sites\/2155\/ERS-VS-403b-comparison-2013.pdf\">Comparison Chart for ERSRI Pension Hybrid Plan vs. 403(b) Retirement Annuity<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Other Retirement Plan Options<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/employeebenefits.ri.gov\/benefit-programs\/active-employees\/supplemental-benefits\/deferred-compensation-plan\" data-type=\"link\" data-id=\"https:\/\/employeebenefits.ri.gov\/benefit-programs\/active-employees\/supplemental-benefits\/deferred-compensation-plan\">Deferred Compensation 457(b)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/web.uri.edu\/hr\/benefits\/retirement\/farp\/\" data-type=\"page\" data-id=\"2935\">FICA Alternative Retirement Plan (FARP)<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Retirement Savings Plans URI has two types of retirement plans based upon your job title classification: RI Office of Post Secondary Commissioner (RIOPC) Joint Alternate Retirement Plans: 403(b) Retirement Choice Defined Contribution Plan Elective Deferral Contribution Limit The IRS has announced adjustments in the 403(b) and 457(b) elective deferral contribution limit for 2024. The limit [&hellip;]<\/p>\n","protected":false},"author":581,"featured_media":0,"parent":71,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-189","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/web.uri.edu\/hr\/wp-json\/wp\/v2\/pages\/189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/web.uri.edu\/hr\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/web.uri.edu\/hr\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/web.uri.edu\/hr\/wp-json\/wp\/v2\/users\/581"}],"replies":[{"embeddable":true,"href":"https:\/\/web.uri.edu\/hr\/wp-json\/wp\/v2\/comments?post=189"}],"version-history":[{"count":4,"href":"https:\/\/web.uri.edu\/hr\/wp-json\/wp\/v2\/pages\/189\/revisions"}],"predecessor-version":[{"id":3564,"href":"https:\/\/web.uri.edu\/hr\/wp-json\/wp\/v2\/pages\/189\/revisions\/3564"}],"up":[{"embeddable":true,"href":"https:\/\/web.uri.edu\/hr\/wp-json\/wp\/v2\/pages\/71"}],"wp:attachment":[{"href":"https:\/\/web.uri.edu\/hr\/wp-json\/wp\/v2\/media?parent=189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}