Retirement Plans

Faculty Resources
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State Retirement and AEF Retirement Plan

State University System Optional Retirement Program (ORP)

A defined contribution plan where participants decide how to allocate the money in their account among available investment funds. College of Medicine faculty are required to participate in the ORP.

  • Contribution Rates
    • Employer: 5.14% of biweekly earnings (Note: Employers also pay Admin fee/UAL to State of Florida. Therefore, the employer rate you see on your paychecks will be higher than the amount deposited into your account.)
    • Mandatory Employee: 3.00% of biweekly earnings
    • Voluntary Employee: Up to 5.14% of biweekly earnings

Health Center 403(b) Plan (AEF Retirement Plan)

Clinical faculty only participate in the AEF retirement plan in addition to the State University System Optional Retirement Program (ORP).

  • Contribution Rates
    • Employer: 5.14% of biweekly earnings
    • Mandatory Employee: 3.00% of biweekly earnings
    • Voluntary Employee contributions are not permitted to this plan

Voluntary Savings Plans

Effective January 2021, Fidelity Investments (“Fidelity”) will become the new service provider for recordkeeping and plan services for the University of Florida 403(b) voluntary retirement plans. This means accounts at MetLife, TIAA, VALIC, and Voya will transfer to Fidelity. In addition, you will have access to Fidelity’s online planning tools, videos, website, mobile app and more, to help you manage your account. Additional transition details will be provided by the UF in November. Learn more

403(b) Plans 

Retirement savings plans, similar to the 401(k) plans that are offered to employees at public schools and certain 501c(3) tax-exempt organizations. Intended to supplement retirement income from a state plan or act as a stand-alone plan. Both the tax-deferred and after-tax plans offer annuity and mutual fund investment products. Learn More

457 Deferred Compensation Plan

Retirement savings plan that allows employees to defer receiving a portion of earnings until retirement. Intended to supplement retirement income from a state plan or act as a stand-alone plan. Learn More

Retirement Plan Limits

The IRS sets limits on the amount of money that can be contributed to your retirement plan(s). UF Benefits performs the vital task of ensuring regulatory compliance allowing current and future employees to enjoy the benefits of these plans. Learn More