retirement plans
ÌÇÐÄVlog offers several retirement savings programs to eligible employees. Depending on your position, employment classification, and eligibility status, you may be required to participate in a mandatory retirement plan and may also elect to participate in supplemental voluntary retirement plans.
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Voluntary Retirement Plans
A. ÌÇÐÄVlog Voluntary Retirement Savings Plans (403(b))
Contribute to an ÌÇÐÄVlog Voluntary Retirement Savings Plan, which offers both traditional (pre-tax) and Roth (post-tax) options through one of the following approved investment providers:
ÌÇÐÄVlog 403(b) Providers and Contact Information
- - Julio Castillo 561-393-1301 julio.castillo@tiaa.org
- - Andrea Modica 561-714-4301 amodica@gaborfs.com
- - Sybilla Koch 561-325-2154 sybilla.Koch@corebridgefinancial.com
To change your 403(b) voluntary retirement contributions, you will need to include a Salary Reduction Agreement in an email to your provider and Benefits & Retirement.
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B. State of Florida Deferred Compensation Plan (457(b))
Contribute to the State of Florida Deferred Compensation Plan, which offers both traditional pre-tax and Roth contribution options, with one of the following approved investment providers:
State of Florida 457(b) Investment Providers and Contact Information
- Nationwide – Paul Artanis 954-709-8719 ArtaniP@Nationwide.comÌý
- Voya Financial – Stacey Sherbinsky 954-486-2236 S.Sherbinsky@VoyaFA.com
- Corebridge Financial – Laura Golubev 904-801-9940 Laura.Golubev@CorebridgeFinancial.com
Visit for more information and to enroll online.
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403(b) and 457(b) Contribution Limits
Employee contributions are subject to annual IRS limits, including any applicable catch-up contribution provisions.
For 2026, the IRS elective deferral limit for both and plans is $24,500. Additional catch-up contributions may be available for eligible participants based on age and IRS rules.Ìý
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Mandatory Retirement Plans
A. Florida Retirement System (FRS) Pension PlanÌý
The FRS Pension Plan is a defined benefit retirement plan that provides a lifetime monthly retirement benefit. Benefits are calculated using a formula based on:
- Years of creditable service
- Age at retirement
- Employment class
- Average final compensation (the average of the employee's highest earning years as defined by FRS rules)Ìý
Investment management and retirement benefit administration are handled by the Florida Retirement System.Ìý
Key Features
- Guaranteed lifetime monthly benefit at retirement.
- Disability and survivor benefits may be available to eligible members.
- Vesting is generally earned after meeting .
- Employee contributions are pooled in the FRS trust fund and are not maintained in individual investment accounts.Ìý
Contributions
FRS Pension Plan members are required to contribute 3% of earnings through payroll deduction. is as established annually by Florida law. Contribution rates are subject to legislative change. Ìý
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B. Florida Retirement System (FRS) Investment Plan
The FRS Investment Plan is a defined contribution retirement plan that gives employees greater control over how their retirement savings are invested. Your retirement benefit is based on:
- Employer and employee contributions
- Investment performance
- The value of your account balance at retirement
Participants choose how their retirement contributions are invested from a selection of available investment funds.Ìý
Key Features
- Employees direct their own investment choices from available FRS investment options.
- Participants are vested after meeting .
- Provides portability, allowing eligible participants to take their vested account balance with them when leaving FRS-covered employment, .
- Educational resources and free financial planning assistance are available through .Ìý
Contributions
FRS Investment Plan members contribute 3% of earnings through payroll deduction. is as established annually by Florida law. Contribution rates are subject to legislative change. Ìý
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C. State University System Optional Retirement Plan (SUSORP)
The State University System Optional Retirement Program (SUSORP) is a defined contribution retirement plan available to . Employees have 90 days to elect the SUSORP after becoming eligible. Both the employee and ÌÇÐÄVlog contribute to an individual retirement account, and retirement benefits are based on contributions and investment performance over time.
Key Features
- Participants choose from the available SUSORP investment providers
- Participants have control over how their retirement assets are invested
- Account balances are portable and may be rolled over to another eligible retirement plan or IRA upon separation from employment, and IRS rules.
- Participants are immediately vested, meaning they have full ownership of all contributions and investment earnings in their account.Ìý
Contributions
Current statutory contribution rates include:
- Employer contribution: 5.14%
- Employee contribution: 3.00%
- SUSORP participants may designate an additional voluntary pre-taxed investment contribution of up to 5.14 percent
Contribution rates are established by Florida law annually.Ìý
SUSORP Providers and Contact Information
- TIAA - 877-267-4510
- Corebridge Financial - Phone: 800-448-2542
- Equitable - 850-893-9535 Ìý
- Voya Financial - 800-330-6115
Visit for more information and to enroll.
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D. FICA Alternative Plan
The FICA Alternative Plan is a defined contribution retirement plan for employees who are not eligible for the FRS plans. Eligible employees contribute 7.5% of wages to an individual retirement account, instead of paying Social Security taxes. Plan enrollment is automatic for employees who meet the plan's eligibility requirements.
Key Features
- Mandatory participation for eligible employees
- Employee contribution of 7.5% of wages
- Pre-tax contributions
- Portable account balance
- Administered by TIAA
For more information, contact Benefits & Retirement at 561-297-5555,Ìý benefits@fau.edu, or visitÌý
Helpful Information and forms: