Newly hired Faculty, Classified staff (until December 1, 2017), and University and Academic Professionals are automatically enrolled in the TDA 403(b) program, unless they opt-out of participating within 60 calendar days of their hire date. View the TDA automatic enroll opt out (Word) form.

As allowed by Section 403(b) of the federal tax code, you are eligible for a tax break to put aside money today to build income for your retirement. You can reduce your taxable income; however, you do not reduce your life insurance, Social Security or retirement benefits.

TDA contributions may be made with pre-tax income or with after-tax income. Earnings on your pre-tax contributions accumulate on a tax-deferred basis and income taxes are payable when you make withdrawals from your account upon retirement. Earnings on after-tax (Roth) contributions are not taxable if withdrawn at least five years after the first after-tax contribution is made and all other withdrawal eligibility requirements are met. The funds in your TDA  may be accessed if you terminate employment, become totally and permanently disabled, reach age 59 years six months, have an IRS-defined hardship or die.

Select from the participating TDA providers and decide which investment products to use. 

Note: If you receive a lump-sum distribution (including a hardship withdrawal) before age 59 years and six months, you may also pay an additional 10 percent federal tax.

For more information about the plan, view the TDA Plan Document (PDF).  For assistance accessing this and other documents, please contact VCU Human Resources.

In 2017, VCU participants under age 50 can contribute up to $18,000 to the TDA 403(b) program, and up to $18,000 to the Virginia Deferred Compensation Plan 457b program (DCP). The limits apply to pre-tax and after-tax (Roth) contributions combined. 

In 2018, VCU participants under age 50 can contribute up to $18,500 to the TDA program and up to $18,500 to the Virginia Deferred Compensation Plan 457b program. The limits apply to pre-tax and after-tax (Roth) contributions combined.

• Beginning with the calendar year you turn age 50, you can contribute an additional $6,000 combined to the TDA and an additional $6,000 to the DCP - for a total of $24,000 to each plan for 2017 and $24,500 for 2018.
• With 15 or more years of service to VCU, you may be eligible for an additional catch-up election in the TDA if your previous contributions do not average out to least $5,000 per year of employment. To request information about catch-up eligibility, contact benefits@vcu.edu.
• If you are within three years of your normal retirement age, you may be eligible for the standard catch-up contribution to the DCP. For further information, review the standard catch-up document. 
• Use the online pay calculatorto determine how much to tax-defer. You can change your contributions at any time by using the following instructions:
  - For the TDA, complete the Salary Reduction Agreement (PDF). 
  - For the DCP, all enrollment and contribution changes can be made online at Commonwealth of Virginia 457 Deferred Compensation Plan 

Employee contribution elections made pursuant to a Salary Reduction Agreement remain in force until you actively make a contribution election change, unless your paycheck does not support your election amount. Employees may change voluntary contributions at any time by completing a Salary Reduction Agreement (PDF) for the TDA or visit the Commonwealth of Virginia 457 page to make changes to the DCP.  

Fidelity (Visit Fidelity's Facebook page)

TIAA (Visit TIAA's Facebook page)

VCU Human Resources provides faculty and staff with opportunities to meet individually with the TDA vendors about retirement and investment strategies. For a list of campus dates and information on how to make a reservation for a session, follow the link below:

• One-on-One Vendor Consultations

Generally, distributions from TDA, Roth 403(b) and Cash Match plans are not available while employed by VCU. For information on your distribution options, please contact your vendor.

For more information, email benefits@vcu.edu or call (804) 827-1723.

Eligible Faculty, University and Academic Professionals, and Classified employees who contribute at least $10 each pay period to their TDA plan receive matching contributions to their Cash Match account from VCU. The Cash Match plan, which was enacted by the 1999 Virginia General Assembly, allows the university to provide a matching contribution of 50 percent — up to the plan maximum each pay period — of the amount that eligible faculty and staff contribute to their retirement investment accounts in the TDA program or the Commonwealth of Virginia 457b Deferred Compensation Plan.

To be eligible for the VCU Cash Match, an eligible Faculty member, University and Academic Professional, or Classified employee must be covered by:

• a Virginia Retirement System (VRS) defined benefit plan (VRS Plan, VRS Plan 2, or VaLORS) or by the VCU Optional Retirement Plan (ORP); or
• the Virginia Retirement System (VRS) Hybrid Retirement Plan and be making the maximum voluntary defined contribution to that plan.

Note: Adjunct faculty, postdoctoral scholars, graduate assistants, and hourly employees are not eligible to participate in the Cash Match plan.

Each eligible participant can receive only one cash match plan contribution from VCU. If you participate in the TDA 403(b) program, the VCU cash match is made to your TDA investment company. If you contribute to the Virginia Deferred Compensation Plan (DCP) and do not participate in  VCU's TDA 403(b) program, you may participate in the Cash Match plan, provided you meet the eligibility criteria indicated above, and your VCU cash match contribution is made to the Virginia Cash Match Plan. If you contribute to both the TDA and DCP plans, only your TDA account can qualify for VCU's Cash Match amount based on your TDA contributions.

Cash Match funds are initially invested into  a target date fund based on your age. If you would like to make different allocations with these funds, contact your TDA vendor to make the change.

For more information about the Cash Match plan, please review the information below.

To enroll in the 403(b) program for TDA and/or Roth contributions, you will need to provide VCU Human Resources with the following completed documents:

• Salary Reduction Agreement (PDF).
• Vendor enrollment form for each vendor with whom you choose to invest. You can obtain vendor enrollment forms from VCU Human Resources or the TDA vendor; or, if you enroll online, you can provide the online* confirmation page(s) from the TDA vendor(s).

*To enroll online with your chosen vendor, visit the appropriate link below:

• Fidelity - the plan code for TDA and Roth 403(b) is 50548; the plan code for Cash Match is 57837.
• TIAA - the access code for TDA and Roth 403(b) is 100941; the access code for Cash Match is 100942.

Enroll in the TDA and/or Roth 403(b) plan and the Cash Match plan.

Note: If you enroll with more than one TDA vendor, your Cash Match contribution will be distributed to the vendor with the highest allocation. If the allocations are equal, the vendor listed first on the Salary Reduction Agreement (SRA) will receive the Cash Match contribution.