Basic Retirement Plan

The Basic Retirement Plan offers immediate vesting and a two-for-one university match. Enrolled participants contribute 5% of eligible compensation and after a 12-month waiting period, the university contributes 10% of eligible compensation. You may enroll at any time, however you must be enrolled in the plan in order to receive the university contribution.

Eligible employees can enroll at any time using Employee Self-Service > Benefits in Wolverine Access. Contributions and earnings are tax-deferred until you take a distribution. You do not pay state or federal income taxes on your contributions at the time they are made. However, you still pay the 7.65% FICA (Medicare and Social Security) tax.

Investment Options

You may invest your funds with two investment companies — TIAA and Fidelity Investments. Contributions may be allocated to either or both, and contributions may be distributed among the approved investment funds offered.

TIAA and Fidelity Investments Websites for U-M Faculty and Staff

Visit these sites at any time to open your account, select your investment funds, and name your beneficiary.


Fidelity Investments

Keep Your Account Secure

Here are 5 steps you can take to help protect your retirement savings account by adding your credentials and security measures to your TIAA and Fidelity online profiles. These steps can help prevent unauthorized use of your identity and information, as well as empower you to monitor your account for suspicious activity.

  1. Set up online access with a unique username and password.
  2. Sign up for 2-factor authentication at login.
  3. Add or update your mobile phone number and email address so you can be contacted in real-time in case of fraud or unusual account activity.
  4. Sign up for electronic delivery of your quarterly statements and other notifications.
  5. Activate voice biometrics to create your unique voiceprint as an additional security method.