Retirement Programs

UAB Hospital Management, LLC Retirement Program (information located at the bottom of this page.)

UAB Retirement Program

Mandatory

Teachers Retirement 401(a)
The Teacher's Retirement plan is a 401(a) plan and mandatory for certain employment categories.

Please review the Benefit Eligibility Table for a complete listing of eligible employment categories.

The Teacher’s Retirement plan is a defined benefit plan. Eligible employees who were a member of Teacher's Retirement prior to January 1, 2013 (Tier 1) must contribute 7.50% monthly tax sheltered contributions up to $250,000 annual earnable compensation maximum. Eligible employees who were a member of Teacher's Retirement January 1, 2013 or later (Tier 2) must contribute 6% monthly tax sheltered contributions up to $250,000 annual earnable compensation maximum. The salary cap only applies to employees hired on or after July 1, 1996.

Teacher's Retirement provides Tier 1 members retirement income at age 60 with 10 years or more of participating Teacher's Retirement service, or at any age with 25 years of participating Teacher's Retirement 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 Benefits Office for counseling and/or to apply for a refund of your accumulated contributions.

You may also review the TRS Member Handbook (Tier 1 or Tier 2) published by Teacher's Retirement for complete details of the plan.

Voluntary 403(b) Plan
UAB offers a voluntary 403(b) retirement plan for eligible employees. Please review the Benefit Eligibility Table 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 Internal Revenue Code 403(b). Eligible employees can choose between both TIAA and VALIC for investments. Vesting in the 403(b) plan is immediate.

The University matches the individual's contributions up to 5% of gross monthly pay not to exceed $255,000 annual UAB salary. The salary cap only applies to employees hired on or after July 1, 1996. Eligibility for matching is limited to full-time regular monthly paid employees only.

457(b) Plan

UAB 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 contributions, and tax-deferred growth through both TIAA-CREF and VALIC. There are no University matching contributions under this plan.

Contribution Limits for 403(b) and 457(b) Plans

Eligible employees can participate in 403(b) and 457(b) plans, if they wish. Participants under age 50 can contribute up to $17,500 to each plan in 2012. ($35,000 total if using both) Participants age 50 or over can contribute up to $23,000 pre-tax to each plan in 2012. ($46,000 total if using both)

TIAA-CREF
Offers the individual a choice as to the distribution of the total deposit to be placed in TIAA (fixed annuity) or CREF (variable annuity). Investment options also include non-proprietary mutual funds.

VALIC
Offers the individual a choice as to the total distribution of the total deposit to be place in non-proprietary mutual funds as well as a fixed interest account.

Enrollment and Individual Counseling Appointments Available
Eligible employees who wish to enroll in the 403(b) or 457(b) programs, or adjust payroll deductions must schedule an appointment with a HR Benefits Counselor. Please contact our office by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 934-3458 to schedule an appointment.

TIAA-CREF and VALIC representatives are on the UAB campus for individual counseling appointments.

TIAA-CREF
Please visit their web site to view their current schedule and request an appointment, or call them at 1-800-842-2003.

VALIC
Please call them at 1-800-448-2542 or contact a member of the local service advisor team.

 


 

UAB Hospital Management, LLC Retirement Program

Voluntary 403(b) Plan
UAB offers a voluntary 403(b) retirement plan for eligible employees. Please review the Benefit Eligibility Table 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 Internal Revenue Code 403(b). Eligible employees can choose between both TIAA and VALIC for investments. Employees are vested after 3 years of employment within the LLC.

The University matches the individual's contributions up to 5% of gross monthly pay not to exceed $255,000 annual UAB salary. The salary cap only applies to employees hired on or after July 1, 1996. Eligibility for matching is for all full-time and part-time regular, twelve-hour shift, and weekend staff employees.

TIAA-CREF
Offers the individual a choice as to the distribution of the total deposit to be placed in TIAA (fixed annuity) or CREF (variable annuity). Investment options also include non-proprietary mutual funds.

VALIC
Offers the individual a choice as to the total distribution of the total deposit to be place in non-proprietary mutual funds as well as a fixed interest account.

Enrollment and Individual Counseling Appointments Available
Eligible employees who wish to enroll in the 403(b) program, or adjust payroll deductions must schedule an appointment with a HR Benefits Counselor. Please contact our office by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at 934-3458 to schedule an appointment.

TIAA-CREF and VALIC representatives are on the UAB campus for individual counseling appointments.

TIAA-CREF
Please visit their web site to view their current schedule and request an appointment, or call them at 1-800-842-2003.

VALIC
Please call them at 1-800-448-2542 or contact a member of the local service advisor team.