Want to put more money aside for your retirement? CU’s three voluntary retirement savings plans are a great way to supplement your basic retirement plan. You can enroll or adjust your contributions at any time, fees are low and each plan gives you the flexibility to choose your own investments or have specialists do it for you.
Note: You can enroll in any of the voluntary plans, whether you qualify for a mandatory retirement plan or not. You make all plan contributions and assume investment risks and rewards.
Voluntary Retirement Plan Guide
2025 contribution limits
| CU Voluntary Retirement Plans | ||||
| CU 403(b) | PERA 401(k) pre-tax and ROTH (post-tax) |
PERA 457 pre-tax and ROTH (post-tax) |
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| (pre-tax dollars) | Roth Option (post-tax dollars) | |||
| Contribution limit | $23,500 (See aggregate limits below) |
$23,500 (See aggregate limits below) |
$23,500 | |
| Additional catch-up contributions for ages 50-59 or 64+ |
$7,500 (See aggregate limits below) |
$7,500 (See aggregate limits below) |
$7,500 | |
| Additional catch-up contributions for ages 60-63 |
$11,250 (See aggregate limits below) |
$11,250 (See aggregate limits below) |
$11,250 | |
| 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 ($47,000) for three consecutive years before normal retirement age. |
| Aggregate limits |
CU voluntary retirement plans combined contribution limit between the 403(b) and 401(k): $23,500 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 $11,250 catch up contribution. |
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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.
Choose a voluntary plan to learn more
