Utah Valley University (UVU) offers employees a variety of ways to save for retirement and the opportunity to save for their children and grandchildren's college education.
"It is never too early to start saving for retirement or for the college education of your children or grandchildren."
Utah Valley University provides employees the following plans for retirement and educational savings through payroll deduction.
- Nonexempt benefit eligible employees hired before July 1, 2011 - Utah Retirement Systems (URS) Tier 1 NonContributory Defined Benefit Plan 14.22% (Pension Plan) and 1.5% URS 401(k) contribution rate (based on the employee's compensation).
- Nonexempt benefit eligible employees hired after July 1, 2011 and have not participated in Utah Retirement Systems in the past - Utah Retirement Systems Tier 2 (URS) NonContributory Defined Benefit Plan 7.59% (Pension Plan) and 2.41% URS 401(k) contribution rate (based on the employee’s compensation).
- Executive/Faculty/Exempt benefit eligible employees – 401(a) Defined Contribution Plan with a contribution rate of 14.2% (based on the employee’s compensation). Investment options through TIAA-CREF and Fidelity Investments.
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.
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.
- Earnings grow free from federal and Utah State income taxes if used for qualified higher education expenses.
- Utah taxpayers receive a credit on contributions.
Retirement Counseling Sessions
Utah Retirement Systems:
Utah Educational Savings Plan (UESP) - 529 College Savings Plan:
UVU Early Retirement Program:
For information concerning eligibility requirements and benefits provided under the UVU Early Retirement Program refer to Policy #362, Early Retirement: Institution.
To apply for the UVU Early Retirement Program, please contact Irene Whittier at 863-8389 or Denise Morales at 863-8241. The Human Resources Department will send you an Application/Authorization form, Early Retirement Procedures and Check List, and Early Retirement Worksheet.
Human Resources | 801.863.8207 | Hours 8-5 ♦ ROOM BA-110 | **Utah Valley University is an Affirmative Action/ Equal Opportunity/ Equal Access Employer.**