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id="block-system-main" class="block block-system"> <div class="content"> <div id="node-606" class="node node-page slider-secondary clearfix" about="/retirement" typeof="sioc:Item foaf:Document"> <span property="dc:title" content="Retirement" class="rdf-meta element-hidden"></span> <div class="content"> <div class="field field-name-field-body field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"><h1>Retirement Benefits</h1> <p class="bigger">Retirement benefits for postdocs vary depending on the postdoc's title code. If you are unsure of your title code, ask your HR administrator. Your title code is also indicated on your paystub.</p> <hr /> <h2>Postdoc Employees (title code 3252)</h2> <p>Postdoctoral scholar employees contribute to the <a href="https://ucnet.universityofcalifornia.edu/forms/pdf/defined-contribution-plan-summary-description.pdf" target="_blank"><strong>University of California Defined Contribution Plan</strong></a> (DCP) as “Safe Harbor” participants. This means that while postdoc employees <em>do </em>pay into the DCP, they <em>do not</em> pay into Social Security. The DCP mandatory contribution is approximately 7.5% of salary. By default, funds will be deposited to the UC Savings Fund, but you have the option of redirecting your contributions to other UC or Fidelity Funds. Postdoc employees also have the option to enroll in a 403(b) and/or 457(b) retirement savings plan.</p> <p>If you are a postdoc employee with assets in a DCP, you have some options when you separate from the University.</p> <ol> <li><strong>Keep your money in the plan</strong>. <em>If your balance is at least $2,000</em>, you may elect to leave your money in the plan. You may no longer contribute to the plan after separating from UC; however, you may still change the way your money is invested.</li> <li><strong>"Roll over" some or all DCP assets </strong>to a traditional IRA or to an employer plan that accepts rollovers. <em>Balances greater than $1,000 but less than $2,000</em> will be rolled over into an IRA in the participant’s name unless the participant provides alternative distribution directions.</li> <li><strong>Request periodic distributions</strong> without having to make a specific request for withdrawals each time.</li> <li><strong>Cash out</strong>. If your balance is less than $1,000, the University will <em>automatically</em> pay the balance to you, unless you request the money to be rolled over to another retirement account. Regardless of the amount, you may cash out all or part of your balance if you wish. <strong>Important:</strong> Distributions are usually taxed as ordinary income in the year they are issued. Distributions may also be subject to early withdrawal penalties if they are taken before age 59½.</li> </ol> <p>UCSF must have your current address to assure delivery of any distribution. Tell your HR administrator if you are moving. </p> <p>To access DCP funds or to enroll in the retirement savings plan, or for more information about the tax treatment and potential penalties of plan distributions, <a href="http://netbenefits.fidelity.com" target="_blank">contact Fidelity Retirement Services online</a> or call the toll-free number: 1-866-682-7787. Fidelity representatives are available Monday through Friday, from 5 a.m. to 9 p.m. Pacific Time.</p> <hr /> <h2>Postdocs in All Other Title Codes</h2> <p>Postdocs appointed under any other postdoc title code (3253, 3254, 3255, 3256) are not eligible for participation in the Defined Contribution Plan nor any other plan through UCSF. These postdocs are advised to consult with a financial adviser about non-employer retirement savings options.</p> </div></div></div> </div> </div> </div> </div> </div> </div> </div> <div id="sidebar" class="column"> <div class="sidebar"> <div class="section"> <div class="region region-sidebar"> <div id="block-menu-block-2" class="block block-menu-block"> <h3><a href="/pay-and-benefits" class="active-trail">Pay & Benefits</a></h3> <div class="content"> <div class="menu-block-wrapper menu-block-2 menu-name-main-menu parent-mlid-0 menu-level-2"> <ul class="menu"><li class="first leaf menu-mlid-2226"><a href="/benefits">Benefits Plan</a></li> <li class="expanded menu-mlid-2371"><a href="/leaves">Leaves of Absence</a><ul class="menu"><li class="first leaf menu-mlid-2991"><a href="/parental-leave">Parental Leave</a></li> <li class="last leaf menu-mlid-13206"><a href="/pregnancy-disability-leave">Pregnancy Disability Leave</a></li> </ul></li> <li class="leaf active-trail active menu-mlid-2996"><a href="/retirement" class="active-trail active">Retirement</a></li> <li class="last leaf menu-mlid-2096"><a href="/taxes">Taxes</a></li> </ul></div> </div> </div> </div> </div> </div> </div> </div></div> <div id="footer"> <div class="section"> <div class="region region-footer"> <div id="block-block-6" class="block block-block"> <div class="content"> <div class="par-bigger"></div> <div class="wysiwyg_threecols layout--33-33-33"> <div class="wysiwyg_threecols--first bg--undefined bg--transparent"> <p><strong>The Office for Postdoctoral Scholars</strong><br /> Graduate Division<br /> 1675 Owens Street, Suite 310<br /> Campus Box 0523<br /> San Francisco, CA 94143<br /> email: <a href="/cdn-cgi/l/email-protection#9eeef1edeafaf1fdeddeebfdedf8b0fbfaeb"><span class="__cf_email__" data-cfemail="a1d1ced2d5c5cec2d2e1d4c2d2c78fc4c5d4">[email protected]</span></a></p> </div> <div class="wysiwyg_threecols--second bg--undefined bg--transparent"> <p style="text-align: center;"><strong> Meet with an advisor one on one:</strong></p> <p style="text-align: center;"> </p> <p style="text-align: center;"><a class="btn--large btn--more--white" href="http://postdocs.ucsf.edu/appointments">Schedule an Appointment</a></p> <p style="text-align: center;"> </p> <p style="text-align: center;"><strong>Search for postdoc and other opportunities:</strong></p> <p style="text-align: center;"> </p> <p style="text-align: center;"><a class="btn--large btn--more--white" href="https://opportunities.ucsf.edu" target="_blank">Opportunities</a></p> </div> <div class="wysiwyg_threecols--third bg--undefined bg--transparent"> <p style="text-align: right;"><strong><a href="/who-we-are">About</a></strong></p> <p style="text-align: right;"><a href="/events"><strong>Events</strong></a></p> <p style="text-align: right;"><a href="/news"><strong>News</strong></a></p> <p style="text-align: right;"><a href="/listservs"><strong>Listservs</strong></a></p> <p style="text-align: right;"><strong><a href="/alumni">Alumni</a></strong></p> <p style="text-align: right;"><strong><a href="/postdoc-statistics">Statistics</a></strong></p> </div> </div> <p> </p> </div> </div> </div> <div class="footer-bottom"> <nav aria-label="Footer Navigation" class="footer--navigation"> <ul> <li><a href="/who-we-are">Contact Us</a></li> <li><a href="https://www.ucsf.edu/accessibility-resources">Accessibility</a></li> <li><a href="https://www.ucsf.edu/website-privacy-policy">Privacy Policy</a></li> <li><a href="https://websites.ucsf.edu/website-terms-use">Terms of Use </a></li> <li><a href="https://websites.ucsf.edu/azlist">A-Z Website List</a></li> </ul> </nav> <div class="footer--copyright"> <p>© 2024 The Regents of the University of California</p> </div> </div> </div> </div> </div> </div> <script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script><script type="text/javascript"> /*<![CDATA[*/ (function() { var sz = document.createElement('script'); sz.type = 'text/javascript'; sz.async = true; sz.src = '//siteimproveanalytics.com/js/siteanalyze_8343.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(sz, s); })(); /*]]>*/ </script> </body> </html>