Retirement Plan Selection

Resources for Newly Hired Exempt Staff and Faculty

Welcome to UMBC!

Upon appointment, you must become a member of either the State Retirement and Pension System’s retirement plan or the Optional Retirement Plan. State Law requires a Retirement Selection PRIOR to your first day of employment.

Steps for New Hire Retirement Selection:

  1. Review the short video below
  2. Please review the Retirement Plan Comparison Chart and “Additional Resources” below
  3. Submit your Retirement Selection Form (DocuSign) by your departments deadline
  4. You should make this selection as soon as possible to avoid any delay in the receipt of your paycheck. 

*Your Retirement Selection is irrevocable.  If you have questions about plan differences contact hrbenefits@umbc.edu

 

Video Link

Additional Resources

Retirement Benefits Overview

Choosing a Retirement Program Book

Pension Plan/ORP Comparison Chart

TIAA Financial

Fidelity Investments

Retirement Plan Selection Form

Opening a Supplemental Retirement