State law requires all regular faculty and staff to enroll in a retirement plan immediately upon employment. Regular faculty and staff and contingent faculty and staff may also participate in the voluntary supplemental retirement plans.
Regular faculty and exempt staff can choose between the Employees’ & Teachers’ Reformed Contributory Pension Plan and the Optional Retirement Program (ORP). Prior membership in either retirement plan may affect selection.
Review the documents below for help with choosing your retirement plan.
For more information about the Maryland State Retirement and Pension System, you can schedule an appointment, email or call.
Non-exempt staff must join the pension plan available through the Maryland State Retirement & Pension System.
Law enforcement officers are required to join the Law Enforcement Officers' Pension System (PDF) available through the Maryland State Retirement & Pension System and should contact the Employee Benefits unit in the Office of Human Resources for additional information.
Forms, handbooks and more information about applying for the pension plan and the ORP are provided here.
All faculty and staff are eligible to contribute pre-tax and Roth (after-tax) dollars through payroll deduction to supplemental retirement plans offered through following vendors: Fidelity Investments, Nationwide Retirement Solutions, and TIAA.
Participation is voluntary and may be initiated any time during the year. IRS calendar
year contribution limits apply to all accounts. The limit for 2022 is $20,500, and
50+ catch up limit is $6,500.
To initiate, change or cancel a supplemental retirement account, please complete the appropriate form below.
You will select either Regular or Contract, depending on your employee status.
TU's agency number is 360224.
Return your completed form via our secure file drop, https://fds.towson.edu/filedrop/Benefits
You can schedule an appointment for a one-on-one consultation with a retirement vendor representative to get more information about voluntary supplemental retirement plans.