Retirement Savings for Current Employees

The Defined Contribution Plan is the retirement savings plan offered to newly hired and current employees through the University. Need to enroll, make changes, or manage your contributions? Learn more and take action now!

The Retirement Benefit to be received under this plan depends on:

  • The amount of funds contributed by the participant of their monthly base salary
  • The investment returns on the contributed funds
  • Withdrawals and distribution upon termination or resignation from the University

The Defined Contribution Plan is defined under IRS codes 403(b), the IRS rules governing the Individual Contribution, and 401(a), the IRS rules governing the Employer Contribution, both explained in detail on this page.

Review the Summary Plan Description of these plans: 401(a) and 403(b) Retirement Plan Summary Plan Description

Defined Contribution Plan Eligibility

The following job classes are eligible for the Defined Contribution Plan with a University match:

  • Full-time faculty
  • Full-time librarians
  • Full-time research associates
  • Regular full-time staff (non-union)
  • Part-time faculty in the tenure stream or tenured for no less than 50% effort. 
  • Part-time regular staff (non-union)
  • Union employees as stated in their Collective Bargaining Agreement
     

 

Frequently Asked Questions

Meet One-on-One with Your TIAA Financial Advisor

TIAA has licensed representatives available to provide free, one-on-one retirement advising for anyone enrolled in their retirement plans through Pitt! These advisors can give you financial advice on how to plan for retirement with your TIAA accounts. If you want to review your accounts and get advice on how to optimize your savings or ask about what you need to consider as you near retirement age, consider booking an appointment by calling 800-732-8353 or visiting www.tiaa.org/schedulenow. Appointments are available at all Pitt campuses or at a TIAA office near you.

Learn More