UMass Boston

Retirement

Securing Your Future

Mandatory Retirement Program

There are two distinct types of retirement plans and it is mandatory you enroll in one.  You are defaulted into the Massachusetts State Employee Retirement System (MSERS) and some employees may be eligible for the Optional Retirement Program (ORP). You have 180 days to opt into Optional Retirement Program and it is an irrevocable decision.

Mandatory retirement contributions are made by the employee on a pre-tax basis, in lieu of Social Security (Windfall Provision). This may impact your future Social Security benefits.   You contribute 9% of your annual salary and an additional 2% of your salary above $30,000. 

Mandatory retirement is paid by employee on a pre-tax basis, in lieu of Social Security (Windfall Provision). This may impact your future Social Security benefits. You contribute 9% of your annual salary and an additional 2% of your salary above $30,000.

The MSERS is administered by the State Board of Retirement and is a 401(a) Defined Benefit Plan. The plan is designed to provide you a monthly income based on your age, salary and years of service at the time you retire.

  • Enrollment Due Date: This form must be returned when you complete and return all pre-employment paperwork that was included in your hiring packet.
  • Explore details regarding your retirement.
  • Download the retirement benefit guide.

Optional Retirement Program

The Optional Retirement Program (ORP) is a 401(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, TIAA-CREF and VALIC are the carriers.

  • Enrollment Due Date: All completed forms are due within 180 days from your hire date.
  • Explore additional details regarding the ORP retirement program.

Omnibus Reconciliation Act of 1990 (OBRA)

  • Non-benefited employees must contribute to OBRA, which is administered by Empower.
  • Explore additional details regarding OBRA.

Elective Retirement Plans

As an employee of the University of Massachusetts, you have two valuable retirement investment options available to you: the University of Massachusetts 403(b) Elective Deferral Savings Plan, for which Fidelity serves as the third party administrator and record-keeper, or the Commonwealth of Massachusetts 457(b) Deferred Compensation Plan (SMART Plan), for which Empower Retirement serves as the third-party administrator and record-keeper. These options make it easy to save and invest more for retirement with special tax advantages and the convenience of regular payroll deductions.

Since your 403(b)/457(b) contributions are deducted from your gross income before tax, your contributions allow you to reduce your federal and state income taxes. For example, a pretax contribution of $10 per biweekly paycheck actually costs only $8 out of your net pay (if your combined federal and state tax rate is 20%). Saving and investing even small amounts from each paycheck now, can make a big difference in the amount you could have to work with when you retire. The sooner you begin saving and investing, the sooner any earnings on your money will grow tax deferred.

As of 2025, if you are under age 50, your 403(b) plan and/or 457(b) elective deferral limit is $23,500. If you are age 50 or older, your 403(b) plan and/or 457(b) elective deferral limit is $31,000. University employees may contribute up to the maximums for both the university's 403(b) Plan and the 457(b) SMART Plan.

Explore the Elective Deferral Retirement Plants

UMass 403(b) Elective Deferral Savings Plan

To start or change a biweekly contribution amount with the University of Massachusetts 403(b) Elective Deferral Savings Plan, you will need to register with your full name, date of birth and the last 4 digits of your Social Security Number at NetBenefits.

If required, the university's Plan number is 50266.  Once registered you will be able to start biweekly payroll deductions and choose an investment lineup. You may also contact your local Fidelity representative, Michael Fraser or at 603.305.5590, for a one-on-one appointment and consultation.

Commonwealth of Massachusetts 457(b) Deferred Compensation Plan (SMART Plan)

The SMART Plan allows for voluntary pretax contributions through payroll deduction. Employees may enroll at any time. Empower, on behalf of the Commonwealth of Massachusetts, serves as the third-party administrator and record-keeper for the SMART Plan. Visit the SMART Plan or call 877.457.1900 for more information.

To start or change a biweekly contribution amount, visit www.mass-smart.com or call 877.457.1900 for more information on the 457(b) SMART Plan. You may also contact your local SMART Plan representative, Michael Geraghty (781-577-8130).

Your Benefit Options Upon Retiring

When employment ends with the university, you have options for maintaining your benefits. You also have options on how you wish to handle your contributions to retirement, and you may be eligible for unemployment insurance. Please schedule an appointment with to discuss your benefits by emailing benefits@umb.edu.

When does my Health Insurance and Dental/Vision Coverage end?

When employment with the university ends, coverage ends the last day of the following month from termination date. Coverage can be continued temporarily through COBRA. For example, if employment terminates on June 5, coverage will remain in effect until July 31. Employees can contact the Group Insurance Commission, the plan administrator, at 617.727.2310.

COBRA

COBRA is a federal law known as the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) under which certain former employees, retirees, spouses, former spouses and dependent children have the right to temporarily continue their existing group health coverage at group rates when group coverage otherwise would end due to certain life events, called "Qualifying Events."

If you elect COBRA coverage, you are entitled to the same coverage provided under the GICs plan to similarly situated employees or dependents. The GIC administers COBRA coverage.

COBRA coverage is offered due either to (1) end of employment, (2) reduction in hours of employment, (3) death of employee/retiree, (4) divorce or legal separation or (5) loss of dependent child status. If you elect to continue your coverage, COBRA coverage will begin on the first day of the month immediately after your current GIC coverage ends.

The rate for this coverage is typically 102 percent of the full monthly premium cost for up to 18-months (coverage is for up to 36 months for certain event such as divorce, death of an employee or loss of dependent child status). There are certain circumstances when the COBRA rates may vary; please refer to information provided by the GIC regarding COBRA.

Flexible Spending Account

Limited COBRA coverage is also offered if you participated in the Health Care Flexible Spending Account (FSA) Plan. There is no continuation of coverage options for the Dependent Care Assistance Program. These FSA plans are administered by Benefit Strategies.

  • Dental/Vision Coverage (CSU and PSU employees only) – Your dental/vision coverage continues for 30 days after the month in which the termination date falls. For example, if employment terminates on June 5, coverage will remain in effect until July 31. For layoffs, coverage continues for 120 days after the month in which the termination date falls. Classified Staff Union and Professional Staff Union employees can contact the Mass Public Employees Fund, the dental/vision plan administrator, at 617.367.6167 or 1.800.325.5214.
  • Dental Coverage (MTA FSU/Non-Unit employees only) – Your dental coverage continues for one full month after the month in which the termination date falls. For example, if employment terminates on June 5, coverage will remain in effect until July 31. MTA Faculty Staff Union/Non-Unit employees can contact Health Plans, Inc the dental plan administrator.

Vacation Payouts

Employees may be eligible for a payout of any unused vacation time in accordance with their applicable collective bargaining agreements and/or personnel policies.

What happens to my retirement contributions?

Benefited Employees

  • You can withdraw all the money you have contributed, including any interest if you were involuntarily terminated, but 20 percent will be withheld for federal taxes. The form ("Request for Return of Accumulated Deductions") is available in Human Resources or on the State Board of Retirement's website.
  • You may directly "rollover" the funds to a tax-qualified IRA and not pay any taxes.

    • The form ("Request for Return of Accumulated Deductions") is available in Human Resources or on the State Board of Retirement's website.
    • Contact the Department of Higher Education and your ORP provider for information

  • You may leave your funds in the State Retirement system in the event that you return to state service. If you choose this option, you do not need to contact the State Board of Retirement. The Board will contact you about every two years to ask what you want to do with the funds. Contact the State Board of Retirement at 617.367.7770 for more information.

Non-Benefited Employees

Please email Human Resources Office to request SMART Plan withdrawal. Please include your name, address, employee ID number, and last day of work. Contact SMART Plan at 877.457.1900 to request a withdrawal form.

Unemployment Insurance

Employees whose appointments terminate at the university may be eligible for unemployment insurance benefits. For information on eligibility, available services, and how to file a claim for unemployment insurance, check the Division of Employment and Training website, or call the main number at 1.888.626.5553 or 617.626.5553.

To assist you in filing a claim, you need to provide an employer name and address:

University of Massachusetts Boston
100 Morrissey Boulevard
Boston, MA 02125-3393

D.E.T. Employer ID Number: 78-418460 (State-funded jobs/positions)
78-418470 (Non-State-funded jobs/positions)

Federal Employer ID Number: 046002284

You may also be qualified for health insurance benefits through the Medical Security Plan, administered by the Division of Employment and Training. For information, visit Medical Security Plan, or call 1.800.914.4455.

To file an Unemployment Insurance Claim, contact the TeleClaim Center at 617.626.6800 or toll-free at 877.626.6800.