Utah Valley University provides employees the following plans for retirement and educational savings through payroll deduction.
- UVU will contribute for all benefit eligible employees to a 401(a) Defined Contribution Plan with a contribution rate of 14.2% (based on the employee's compensation). Investment options through TIAA-CREF or Fidelity Investments or both.
- New benefit eligible employees who have participated in Utah Retirement Systems (URS) in the past and wish to remain in URS may do so. Please contact HR Benefits Office for information.
Supplemental Retirement Investment Options- Additional retirement savings options are available through payroll deduction with no employer match.
- Retirement savings plans include 403(b), 401(k), and 457(b) tax-deferred plans and Roth IRA and 403(b) plans.
- Investment options are available through TIAA-CREF, Fidelity Investments and Utah Retirement Systems (with prior service credits).
Educational Savings- The Utah Educational Savings Plan (UESP) is a simple, sound plan to stretch your child's educational dollars and provide some wonderful tax incentives.
- Tax Advantages-
- Earnings grow free from federal and Utah State income taxes if used for qualified higher education expenses.
- Utah taxpayers receive a credit on contributions.