Retirement Plan Basics
The Unitarian Universalist (UU) Organizations Retirement Plan is an IRS qualified 401(a)/401(k) defined contribution, multiple employer, church retirement plan. Participating Employers put our faith’s commitment to social justice into practice by helping to ensure that the employees of UU institutions have an opportunity to accumulate savings for their retirement years. Participating Employers are those entities (congregations, districts, the national association, and other UU organizations) who have completed a Participation Agreement and have received consent from the Retirement Plan Committee.
Participating Employers are able to make tax-sheltered contributions to the Plan Recordkeeper, TIAA, for eligible staff members.
Employees of participating Employers are encouraged to enroll for the purpose of making pre-tax elective contributions towards their own eventual retirement readiness, whether or not the employee meets Plan criteria for receiving Employer contributions.
Many experts recommend that plan participants review their investment mix and elective salary deferral percentage regularly, and update appropriately. Participants enrolled in the denominational plan may take advantage of one free guidance session annually at no cost by calling 800-732-8353, Monday to Friday, 8 a.m. to 8 p.m. (ET) to schedule the consultation. Remember, your retirement readiness is your responsibility.
The Plan was restated in 2014. Find the governing Plan document here: UU Organizations Retirement Plan home page.
Each Employer is responsible to administer the Plan for the benefit of their employees and in compliance with the Plan document, their confirmed Employer Participation Agreement on file with the Unitarian Universalist Association (UUA) Retirement Plan Director, and all applicable federal regulations.