The University at Buffalo is proud to offer an excellent retirement plan option as a part of your benefits package. Human Resources is here to answer any questions you may have regarding your options.
ERS is a defined benefit plan that provides a fixed, lifetime monthly income at retirement. Your benefit amount is calcuated based on age, years of service and final average salary.
Vesting is the service period required to become eligible for a benefit at retirement. ERS requires a 10-year full time service credit vesting period.
You will contribute to the pension for the duration of employment based on your salary.
|Annual Salary||Employee Contribution|
|$45,000.00 or less||3.00%|
|$45,000.01 - $55,000.00
|$55,000.01 - $75,000.00
|$75,000.01 - $100,000.00||5.75%
|$100,000.01 or more||6.00%|
Full-time employees must enroll in a plan no later than 30 days from their appointment begin date. Enrolling past this deadline may affect retirement benefits. Part-time employees can enroll at any time.
Become familiar with your retirement account and manage it personally.
Retirement Online is a secure area where you can access and
manage your personal retirement information.
Contact ERS at 866-805-0990 or write to:
Tier Reinstatement Unit
110 State Street
Albany, NY 12244.
You cannot change your contributions per plan guidelines. For more information, refer to your plan benefits.
If you are interested in additional retirement savings, you can establish a separate voluntary retirement savings plan (link to voluntary retirement plans information) account.