Grow your retirement savings with CU's retirement plans.

New: GMEs automatically enrolled into CU's 403(b) plan starting Jan. 1

Starting Jan. 1, 2025, the University of Colorado Office of Graduate Medical Education will debut the CU 403(b) GME Retirement Option. GME Medical Residents will be automatically enrolled and eligible for an employer contribution – but whether and how you participate is up to you.

 

What's new:

  • You'll contribute 0.5% of your monthly pre-tax income (unless you choose the ROTH option or opt for more savings).
  • CU will contribute 1%, totaling 1.5% of your monthly income added to your retirement account each pay period.
  • You can enroll, change or terminate your contributions at any time.

Learn more

 

 

Choose a plan to learn more

CU 403(b) Retirement Option for GME Medical Residents

PERA 401(k) Voluntary Retirement Plan

PERA 457 Voluntary Plan

 

2024 contribution limits

CU Voluntary Retirement Plans
  CU 403(b) PERA 401(k) PERA 457
(pre-tax dollars) Roth Option (post-tax dollars)
Contribution limit $23,000
(See aggregate limits below)
$23,000
(See aggregate limits below)
$23,000
Additional catch-up
contributions for ages 50+
$7,500 
(See aggregate limits below)
$7,500 
(See aggregate limits below)
$7,500
Bonus catch up N/A N/A N/A If you’ve under contributed, you may be able to contribute up to twice the normal limit ($46,000) for three consecutive years before normal retirement age.
Aggregate limits

CU voluntary retirement plans combined contribution limit between the 403(b) and 401(k): $23,000
Combined contribution limit for age 50+ between these three plans: $30,500

Any combination of contributions made to the 403(b) pretax option, 403(b) Roth option or 401(k) cannot exceed these limits.

The PERA 457 has no aggregation limits with the 401(a), 401(k) or 403(b) plans.
Notes     If you’re enrolled in the CU 401(a) Mandatory Retirement Plan, you can’t contribute more than $69,000 a year to the CU 401(a) and the PERA 401(k).

This excludes the $7,500
catch up contribution.
 

Compare plans

  University of Colorado PERA
403(b)
 
403(b) ROTH
(after tax)
401(k)
pre-tax and ROTH (post-tax)
457
pre-tax and ROTH (post-tax)
Qualifying distributions Attain age 59 ½

Retirement

Severance of employment

Disability

Financial hardship
5-taxable-year period has passed

Attain age 59 ½

Retirement

Severance of employment

Disability

Financial hardship
Attain age 59 ½

Retirement

Severance of employment

Disability

Financial hardship
Attain age 59 ½ while employed

Required minimum distribution (RMD): attain age 72 while employed (age 70 ½ if born before July 1, 1949)

Retirement

Severance of employment

Financial hardship
Early withdrawal penalties Before age 59 ½ Before age 59 ½ Before age 59 ½ N/A
Plan loan provisions Limited* Limited* Limited** Limited**
Special catch-up contributions (as defined by the plan) None None None Limited***
 

*See plan document or contact a TIAA representative for further plan details.
www.tiaa.org/cu

 

 

**See plan information or contact PERA for further plan details.
PERA 401(k) plan information
PERA 457 plan information
www.copera.org

 

***PERA 457 additional catch-up information: For three consecutive years before Normal Retirement Age and if the participant has under contributed in prior years, the participant may be able to contribute up to twice the available contribution limit ($38,000) per PERA’s approval.