{"id":1605,"date":"2021-10-10T14:20:52","date_gmt":"2021-10-10T18:20:52","guid":{"rendered":"https:\/\/wwwcp.umes.edu\/hr\/?page_id=1605"},"modified":"2021-10-10T14:20:52","modified_gmt":"2021-10-10T18:20:52","slug":"supplemental-retirement-accounts","status":"publish","type":"page","link":"https:\/\/wwwcp.umes.edu\/hr\/supplemental-retirement-accounts\/","title":{"rendered":"Supplemental Retirement Accounts"},"content":{"rendered":"\n<p>In addition to the regular retirement previously mentioned, the University of Maryland Eastern Shore offers employees an exceptional opportunity to save for the future while reducing your present tax liability.\u00a0 All employees are eligible to participate in any of the Supplemental Retirement Account (SRA) Plans available.\u00a0 We offer a 403(b), 401(k), and 457(b) plan.\u00a0 Participation is voluntary.There are three vendor choices:\u00a0 The Maryland Supplemental Retirement Plan (administered by Nationwide), Fidelity Investments, and TIAA CREF.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.marylanddc.com\/iApp\/tcm\/marylanddc\/index.jsp\">Maryland Supplemental Retirement Plan (administered by Nationwide)<\/a><\/li><li><a href=\"https:\/\/401k.fidelity.com\/public\/content\/401k\/Home\/LandingTEM\" target=\"_blank\" rel=\"noreferrer noopener\">Fidelity Investments<\/a><\/li><li><a href=\"http:\/\/enroll.tiaa-cref.org\/usmd\/?microsite=usmd\" target=\"_blank\" rel=\"noreferrer noopener\">TIAA CREF<\/a><\/li><\/ul>\n\n\n\n<p>Contributions made to the SRA are deducted from your salary on a pre-tax basis.\u00a0 You may contribute as little as $5 per paycheck.\u00a0 You can open account at any time and you can change the amount being contributed as often as you like.\u00a0\u00a0The 2021 contributions limit is\u00a0$19,500 for employees under age 50 and $26,000 for employees age 50 and over.<\/p>\n\n\n\n<p>Participation in any tax deferred investment plan will not affect future benefits from any retirement plan or Social Security.\u00a0 If you separate employment with the University, you will not be eligible to make direct payments on a tax sheltered basis to any plan, since all contributions must be made through payroll deductions while employed.\u00a0 However, you may choose to leave your money in the investment plan and receive these benefits at a later time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In addition to the regular retirement previously mentioned, the University of Maryland Eastern Shore offers employees an exceptional opportunity to save for the future while reducing your present tax liability.\u00a0 All employees are eligible to participate in any of the Supplemental Retirement Account (SRA) Plans available.\u00a0 We offer a 403(b), 401(k), and 457(b) plan.\u00a0 Participation&#8230;<span class=\"cpschool-read-more-link-holder\"><a class=\"btn btn-basic cpschool-read-more-link\" href=\"https:\/\/wwwcp.umes.edu\/hr\/supplemental-retirement-accounts\/\">Read more <span class=\"sr-only\">Supplemental Retirement Accounts<\/span><\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"folder":[],"class_list":["post-1605","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/wwwcp.umes.edu\/hr\/wp-json\/wp\/v2\/pages\/1605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wwwcp.umes.edu\/hr\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/wwwcp.umes.edu\/hr\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/wwwcp.umes.edu\/hr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wwwcp.umes.edu\/hr\/wp-json\/wp\/v2\/comments?post=1605"}],"version-history":[{"count":0,"href":"https:\/\/wwwcp.umes.edu\/hr\/wp-json\/wp\/v2\/pages\/1605\/revisions"}],"wp:attachment":[{"href":"https:\/\/wwwcp.umes.edu\/hr\/wp-json\/wp\/v2\/media?parent=1605"}],"wp:term":[{"taxonomy":"folder","embeddable":true,"href":"https:\/\/wwwcp.umes.edu\/hr\/wp-json\/wp\/v2\/folder?post=1605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}