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My Benefits | Learn About Tax-Deferred Annuities

Own It.

The question isn't at what age I want to retire, it's at what income.George Foreman

Our goal is for you to be financially prepared for retirement. Only contributing to the university-sponsored retirement plan may leave you short of your retirement goals. TIAA and IPERS are UNI sponsored retirement plans. During payroll, based on your monthly salary, a percentage is contributed to your plan by you and the University.

To determine the percentages that apply to you:

To view the current value of your university-sponsored retirement plan:

  • Access the TIAA Homepage
  • Access the IPERS Homepage

After reviewing your university-sponsored retirement plan:

  • Are you falling short of your retirement goals?
  • Do you want to contribute more toward your retirement but don't know how?
  • Would you benefit from receiving additional savings on your taxes now? In retirement?

If you answered "Yes" to any of these questions, enrolling in a Tax-Deferred Annuity (TDA) plan at UNI will allow you to save more.

You may elect:

  1. Pre-tax contributions
    1. You would contribute money from your paycheck prior to taxes being withheld.
    2. This means your take home pay is greater than if the money was subtracted after taxes were withheld.
    3. You will pay taxes on these funds when you withdraw them at retirement.
  2. Roth After-Tax contributions
    1. You would contribute money from your paycheck after taxes have been withheld.
    2. You have already paid taxes on this money so you will not have to pay taxes when the funds are withdrawn at retirement.
  3. A combination of both pre-tax and Roth after-tax contributions by enrolling in one of each type.

Learn more about the differences and advantages between a pre-tax vs Roth tax-deferred annuity.

Don't know how much to invest? Even small amounts can make a big impact.

Even the smallest amounts may have a big impact, per the table below you are able to see how different dollar amounts may grow when invested over time.

Savings Example Assuming a 6% Rate of Return on a TDA
Monthly Contribution 5 Years 10 Years 15 Years 20 Years 25 Years 30 Years 35 Years 37 Years
$25 $1,746 $4,082 $7,208 $11,391 $16,990 $24,481 $34,507 $39,410
$30 $2,095 $4,898 $8,649 $13,669 $20,387 $29,378 $41,409 $47,292
$35 $2,444 $5,714 $10,091 $15,948 $23,785 $34,274 $48,310 $55,174
$40 $2,793 $6,531 $11,532 $18,226 $27,183 $39,170 $55,212 $63,056
$45 $3,142 $7,347 $12,974 $20,504 $30,581 $44,067 $62,113 $70,938
$50 $3,491 $8,163 $14,415 $22,782 $33,979 $48,963 $69,015 $78,821
$100 $6,982 $16,326 $28,831 $45,565 $67,958 $97,926 $138,029 $157,641
$200 $13,965 $32,653 $57,662 $91,129 $135,916 $195,851 $276,058 $315,282
$500 $34,912 $81,632 $144,154 $227,823 $339,790 $489,628 $690,145 $788,205
$750 $52,368 $122,448 $216,231 $341,734 $549,557 $734,442 $1,035,218 $1,182,308
$1,000 $69,824 $163,264 $288,308 $455,646 $679,581 $979,256 $1,380,290 $1,576,410
Savings Example Assuming a 0% Rate of Return
A 0% rate of return is based on the reference of stashing money in a shoebox where the money earns no interest.
Monthly Contribution 5 Years 10 Years 15 Years 20 Years 25 Years 30 Years 35 Years 37 Years
$25 $1,500 $3,000 $4,500 $6,000 $7,500 $9,000 $10,500 $11,100
$30 $1,800 $3,600 $5,400 $7,200 $9,000 $10,800 $12,600 $13,320
$35 $2,100 $4,200 $6,300 $8,400 $10,500 $12,600 $14,700 $15,540
$40 $2,400 $4,800 $7,200 $9,600 $12,000 $14,400 $16,800 $17,760
$45 $2,700 $5,400 $8,100 $10,800 $13,500 $16,200 $18,900 $19,980
$50 $3,000 $6,000 $9,000 $12,000 $15,000 $18,000 $21,000 $22,200
$100 $6,000 $12,000 $18,000 $24,000 $30,000 $36,000 $42,000 $44,400
$200 $12,000 $24,000 $36,000 $48,000 $60,000 $72,000 $84,000 $88,800
$500 $30,000 $60,000 $90,000 $120,000 $150,000 $180,000 $210,000 $222,000
$750 $45,000 $90,000 $135,000 $180,000 $225,000 $270,000 $315,000 $333,000
$1,000 $60,000 $120,000 $180,000 $240,000 $300,000 $360,000 $420,000 $444,000

Are you on track for retirement?

You may use Fidelity’s savings factor tool to help guide you. To see if you are on track multiply your current salary by the savings factor appropriate for your age.

Example: You are 35 years old and your salary is 30,000.

  • According to the table below you should have $60,000 ($30,000x2) saved for retirement.
  • If you are short of your goal consider saving more through a Tax-Deferred Annuity at UNI.
Age Range Retirement Savings Factor
Age 30 1x your salary
Age 35 2x your salary
Age 40 3x your salary
Age 45 4x your salary
Age 50 6x your salary
Age 55 7x your salary
Age 60 8x your salary
Age 67 10x your salary

Ready to continue your journey? Getting started is easy:

  1. Determine if you would like to contribute pre-tax, Roth after-tax or utilize a combination of both.
  2. You will need to contact your 403(b) vendor(s) to establish your account and set up your investment options. Review the list of vendors, their investment options and fees.
  3. Once your account is established with your vendor(s) log into Benefits Self-Service to begin payroll contributions to your Tax-Deferred Annuity.
  4. We will send your contributions to the vendor you have chosen on a monthly basis.
  5. Log into all of your retirement accounts on a regular basis to watch your retirement savings grow and manage your investments.
  6. For further financial assistance contact your vendor(s), financial planner or tax advisor.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax or financial advice. These calculations assume a 6% rate of return on investment. It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and the actual rate of return on investments can vary widely over time, especially for long-term investments. To enhance your financial success now and in retirement, we advise you to consult your own tax and financial advisors before engaging in any decisions. A good place to start is your CPA, financial advisor or local bank.