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