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 the plan but cannot provide financial advisement nor make recommendations.
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.
Retirement plan enrollments must be completed through the SUNY Retirement@Work website.
For assistance with Retirement@Work, contact the helpline at 866-271-0960, Monday to Friday, 8 am to 10 pm (ET), and Saturday, 9 am to 6 pm (ET).
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.
In addition to your retirement plan, you have the opportunity to
save extra money for retirement through voluntary retirement plan
options. You can establish your voluntary plan at any time and can
change your contributions to adjust your needs. There are no
employer contributions for voluntary retirement plans.
The University offers the option to enroll in a voluntary 403(b)
account and the 457(b) NYS Deferred Compensation Plan.
Age 49 and Under
Age 50 and over
|403(b) Supplemental Retirement Annuity||$18,500||$24,500|
|457(b) New York State Deferred Compensation
|Total Limit for Plan Year
If you are already contributing to a 403(b) or 401(k) with
another employer, the annual limit is applied to all plans
combined. 457(b) plans have a separate limit.
You may choose to enroll in one or both plan options available. Making contributions to one plan does not affect the other plan.
All enrollments must be completed online through the SUNY Retirement@Work website.
For assistance with Retirement@Work, contact the helpline at
866-271-0960, Monday to Friday, 8 am to 10 pm (ET), and
Saturday, 9 am to 6 pm (ET).
When determining your deduction, keep in mind that they must be
elected as a bi-weekly flat dollar amount. If the amount indicated
is higher than what can be taken from your pay, no deduction will
be taken at all. Employees must monitor their deductions and take
action to adjust them as necessary. If you need help in determining
your contribution, contact an investment advisor.