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 Auto Enroll Opt-out Form 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 Earnings on after-tax (Roth) contributions are not taxable if withdrawn at least five years after the first after-tax contribution is made and all other withdrawal eligibility requirements are met.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 2023, VCU participants under age 50 can defer up to $22,500 to the TDA 403(b) plan and up to $22,500 to the DCP 457(b) Virginia Deferred Compensation Plan. The annual limit for each plan applies to pre-tax and after-tax (Roth) contributions combined. Your deferral limits may be lower if you contribute to other plan(s) outside of the university during 2023.  See important information about 403(b) limits and important information about 457 limits.

• Beginning with the calendar year you turn age 50, you can defer an additional amount to the TDA and the DCP. This amount is referred to as the Age 50 Catch-Up. For 2023, this amount is $7,500, permitting you to defer up to $30,000 to each plan.  
• With 15 or more years of service to VCU, you may be eligible for a special catch-up limit in the TDA if your previous contributions do not average out to least $5,000 per year of employment. To request information about eligibility for this catch-up, enter an HR support request at https://go.vcu.edu/hrsupport or 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. 
• You can change your contributions at any time by using the following instructions:
  - For the TDA, complete the Salary Reduction Agreement (SRA) available under Payroll forms. 
  - For the DCP, deferral elections can be made online by logging in at Commonwealth of Virginia 457 Deferred Compensation Plan or by calling the plan at 1-877-327-5261.

Employee deferral elections made pursuant to a Salary Reduction Agreement remain in force until you actively make a new election, unless your paycheck does not support your election amount. Employees may change TDA deferral elections at any time by completing a Salary Reduction Agreement (SRA). DCP elections must be made directly with the Commonwealth of Virginia 457 Deferred Compensation Plan.  

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, Classified employees, and Postdoctoral Scholar 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, Classified employee, or Postdoctoral Scholar 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, 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.

For information on approved cash match funds visit the TIAA page. 

For information on approved cash match funds visit the Fidelity page. 

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.

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.