Retirement Plan Option

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.

Employees' Retirement System (ERS) Tier VI

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
3.50%
$55,000.01 - $75,000.00
4.50%
$75,000.01 - $100,000.00 5.75%
$100,000.01 or more 6.00%

How to Enroll

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.

Enrollment Steps

Retirement plan enrollments must be completed through the SUNY Retirement@Work website.

  1. Go to SUNY Retirement@Work and set up your account.
  2. Make your plan election for ERS. Your enrollment request will be sent to Human Resources for approval.
  3. Complete the ERS Membership Registration RS 5420 Form. Please note that you will receive an email about completing the form from Retirement@Work as well.
  4. Submit the membership registration form to Human Resources in 120 Crofts Hall, North Campus.  
Need Help?

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).

Contact an Expert

Lissa Jasinowski

Retirement Administrator

State Benefit Services

Phone: (716) 645-4488

Email: lmt22@buffalo.edu

Manage My Retirement Plan

Become familiar with your retirement account and manage it personally.

NYS Employees' Retirement System (ERS)

Managing My Retirement Online

Retirement Online is a secure area where you can access and manage your personal retirement information.

Applying For Prior Service Credit

Voluntary Retirement Savings

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.

Plan Options

The University offers the option to enroll in a voluntary 403(b) account and the 457(b) NYS Deferred Compensation Plan.

Contribution Limits for 2018 Tax Year

Plan

Maximum Deferral

Age 49 and Under

Maximum Deferral

Age 50 and over

403(b) Supplemental Retirement Annuity $18,500 $24,500
457(b) New York State Deferred Compensation
$18,500 $24,500
Total Limit for Plan Year
$37,000 $49,000
403(b) Contributions

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.

Enrollment and Account Management

You may choose to enroll in one or both plan options available. Making contributions to one plan does not affect the other plan.

403(b) Supplemental Retirement Annuity

How to Enroll

All enrollments must be completed online through the SUNY Retirement@Work website.

  1. Go to SUNY Retirement@Work to set up your account.
  2. Follow the steps to enroll and elect your bi-weekly deduction.
  3. Indicate which SUNY Approved Retirement Vendor(s) you would like your contributions to go to.

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).

How to Manage Your Account

Meet With a Financial Advisor

Contribution Considerations

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.

457(b) New York State Deferred Compensation Plan

How to Enroll

  1. Complete the required enrollment forms.
  2. Submit your forms directly to the NYS Deferred Compensation Plan.

How to Manage Your Account

Meet with a Financial Advisor

State Benefits

Human Resources

Phone: 716-645-7777

Email: ub-hr-benefits@buffalo.edu