Supplemental Retirement Plan

University System of Maryland offers this plan as part of workplace benefits. Now is a great time to understand what is offered - think about taking advantage of any opportunities to save and invest for the future. 
Learn what plans allow eligible employees to do.
Through payroll deductions, you can contribute additional pretax and/or Roth after-tax funds to a supplemental plan above and beyond what is contributed to the ORP, 457(b) or Match plan up to the IRS maximum. Elective deferrals you have made to another 403(b), 401(k), SEP-IRA, 408(k)(6) SARSEP, Keogh or SIMPLE plan will offset the amount you can contribute to the MD supplemental retirement plan. Consult a tax adviser to determine whether the combined contributions you make to the plan and to other retirement plans do not exceed Internal Revenue Code limits. Please keep in mind that such plans are designed for retirement and other long-term goals. Although generally meant to be invested until age 59 1/2, these plans may permit withdrawals while you are still working if you incur financial hardship.
If you make a withdrawal before that age, the money will be taxed as ordinary income, and you may be subject to an additional 10% early-withdrawal penalty. You can use all of the same investment choices as the ORP, along with have two more options. In addition, loans are available but certain restrictions may apply. Please call us for details. Employer Match contributions, if made, are not made directly to this plan.
All employees are eligible to participate in this plan.
Contributions to this account will be 100% vested immediately.

Learn which mutual funds and other investments are available

You can enroll now

Enroll or make changes in your plan(s) today