UMass Boston

Health Care Spending Account (HCSA): HCSA can be used for eligible co-pays, deductibles, and non-covered health/dental expenses. Visit TASC to review annual election amounts.

Dependent Care Assistance Program (DCAP): Use for child and elder care costs including before- and after-school care, daycare, and summer camp. Defer up to $5,000 per year on a pre-tax basis. 

• Administrative Cost: Monthly fee of $1.00 for one or both plans. 
• Enrollment Due Date: If elected, coverage for HCSA begins on the first of the month following 60 days of employment. DCAP is effective on the first day of work. You must enroll within 60 days of your initial start date.
• You must re-enroll annually during open enrollment to participate
• You may enroll in this plan as a new hire without evidence of medical insurability or at any time during the year with evidence of medical insurability.

Mandatory Retirement Plans

All benefited employees are required to participate in either the Massachusetts State Board of Retirement pension plan (MSERS) or the Optional Retirement Plan (ORP):

• MSERS: The Massachusetts State Board of Retirement administers the MSERS Defined Benefit Plan. The plan is designed to provide retirees a monthly income based on age, salary and years of service at the time of retirement. Mandatory retirement is paid by employees on a pre-tax basis, in lieu of Social Security (Windfall Provision). This may impact your future Social Security benefits. Employees contribute 9% of their annual salary up to $30,000 and an additional 2% on earnings above $30,000.
• Optional Retirement Program (ORP):  The Optional Retirement Program (ORP) is a defined contribution plan, which is a flexible and portable retirement plan for employees at the Commonwealth’s public institutions of higher education. The Department of Higher Education is the ORP plan administrator and Fidelity and TIAA-CREF are the carrier. Classified Staff Union, Non-Unit Classified, and Post-Doc employees are not eligible for the ORP. Employees contribute 9% of their annual salary up to $30,000 and an additional 2% on earnings above $30,000.

Enrollment Due Date: This form must be submitted within 180 days from your hire date.

Supplemental Retirement Plans

You may voluntarily defer additional income into a 457(b) or a 403(b) plan, up to the annual IRS limits. The University’s voluntary retirement saving plans allows participants to contribute on a pre-tax or post-tax bi-weekly basis.

• 403(b) Plans: Your optional 403(b) retirement plan is administered by UMass Boston Office of the President and the carriers are Fidelity (Plan ID: 50266) and TIAA-CREF. You can enroll or change your election at any time. Register and/or review your account.
• 457(b) Plan (Smart Plan): Your optional 457(b) retirement plan is administered and carried by Empower Retirement. You can enroll or change your election at any time. Register and/or review your account.