It’s another way for you to save in addition to your primary UW retirement plan. Office locations. Consult with a tax adviser to understand the tax implications associated with taking any distribution from your UWRP retirement plan account. If you want to take out a loan or apply for a hardship withdrawal, contact Fidelity Investments or TIAA. And payments — new and existing — … 206-543-4444 The more you plan the smoother your transition will go — you may even realize you can retire sooner than you thought. Retirement fund holders must fill out a loan request form with Fidelity. ⇒ New/Newly-Eligible Employees: Enrolling in Benefits In your first week, you’ll receive an email describing how to learn about your benefit package and how to enroll. The UW Tax-Sheltered Annuity (TSA) 403(b) Program is a supplemental retirement savings program. You’ve worked, you’ve saved, and you’ve envisioned your life in the years to come. PERS 2 retirement plan You don’t have to start receiving income from UWRP at the same time you retire, though the Internal Revenue Service (IRS) does require that you take the required minimum distribution amount starting the year your reach age 72 (or the year you retire from UW if you’re older than 72 when you retire). Doing so makes it easier to manage your savings and plan for your retirement. Retirement Systems. Depending on which other retirement plan you participate in, your VIP limit can be affected as summarized below: 1- The VIP maximum contribution amount shown above includes the Age 50 “Catch-up Contribution” of $6,500 for 2020 & 2021 as described in the “Catch-up Contributions” section below. The Committee has a fiduciary role in regard to UW retirement plans and is charged with operating exclusively in the best interests of the participants. Answering these questions depends both on your preferences and your situation. The employee share is deducted on a pre-tax basis. Due to Internal Revenue Service regulations regarding government pension plans, none of the state retirement plans (PERS, TRS, LEOFF, etc.) You may be eligible to take a loan against your retirement savings account, should the need arise. If you're considering making a change but aren't quite sure, one of the UW Credit Union financial calculators could be just the tool to help make the right financial decision for you. You can’t take out a loan from your UWRP funds or otherwise access your funds while you’re working at UW. You can also meet with a Fidelity representative or meet with a TIAA representative if … Download a Retiree Privileges brochure here 1.1. Learn more about the Fund Review Committee responsibilities and membership. Rules for both options are defined in section 6 of the UW VIP Plan Document. Date: Friday, April 30, 2021 Time: 9:30am – TBD Location: TBD Overview. For help with your investment and tax options, talk with a Fidelity representative. © 2020 University of Washington | Seattle, WA, University of Washington Human Resources Home, HR Benefits, Analytics & Information Systems, Professional & Organizational Development, retirement planning tools provided by Fidelity Investments, Retirement - UW Retirement Checklist (PDF), You must submit an online UW Retirement Application, Discounts on auto, home, and renters insurance, Physician Assistants students: LTD insurance, Fund review committee for UW retirement plans, DCAP: Tax savings for child and elder care, UW Medicine Health System Employment Transition, Determine the impact taxes have on your income, Estimate your Social Security using their. allow for loans or borrowing from your contributions. WRS News Online is for active members of the Wisconsin Retirement System. 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