Supplemental Retirement Plans

As a full-time or part-time Miami employee, you are eligible to participate in the University's Supplemental Retirement Benefit Program, which includes three plans available to employees of public educational institutions: 403(b), 457, and Roth 403(b).

Full-time employees can contribute to supplemental plans in addition to the Alternative Retirement Plan (ARP).


See Changes to ARP and 403(b) Plans-Spring 2021


Pre-tax Plans

The 403(b) plan is a salary reduction plan for which contributions and investment earnings grow tax-deferred until you withdraw funds (at which time they are taxed as ordinary income). Because your contributions to these plans are withdrawn pre-tax, contributions lower your taxable income and increase your retirement savings while you are working. Your pre-tax contributions are completed via payroll deduction. You can manage your account via the Retirement@Work® online portal.

Employees considering contributing to a 403(b) plan are encouraged to evaluate each vendor's information, annual reports, fee disclosures, and objectives to determine what they have to offer. You may also consult with a financial expert if you feel the need.

Investment options are selected and monitored by the Miami University Retirement Advisory Committee and Cammack, its independent investment consultant.

The Ohio Deferred Compensation (ODC) 457 retirement plan is available for all Ohio public employees and is one of the largest 457(b) plans in the country.

The Program is unique in that it is a public, non-profit organization created by Ohio legislation. Investment options are selected and monitored by a 13-member Board, composed of public employees, retirees, and appointed investment experts, which governs the Program as required by Ohio Revised Code Chapter 148.  External managers professionally manage Ohio DC’s investment options. Investment options are selected and monitored by the Board and its independent investment consultant.

Contact Tom Bugher at 513-829-6499 or the main ODC office at 877-644-6457 for plan enrollment and changes.

Post-tax Plan

The Roth 403(b) is a salary reduction plan for which contributions are made post-tax. Although these accounts do not affect your taxable income while you are working, the earnings you withdraw at retirement are tax-free.

Employees considering contributing to a Roth plan are encouraged to evaluate each vendor's information, annual reports, fee disclosures, and objectives to determine what they have to offer. You may also consult with a financial expert if you feel the need.

Investment options are selected and monitored by the Miami University Retirement Advisory Plan Committee and Cammack, its independent investment consultant.

Approved Vendors

Miami University has approved the following vendors to offer Supplemental Retirement Plans. Select the company name for contact information.

Equitable (formerly AXA)

Carol Rodgers-Rivir, 859-630-2226, Carol.rodgers@equitable.com

Website:   www.equitable.com

TIAA

Laura Maxwell, 513-263-2825, lmaxwell@tiaa.org

Website: https://www.tiaa.org/public/tcm/muohio

AIG Retirement Services

Dean Koller, 614-980-9271 (cell) Dean.Koller@aig.com

William Whiteley, IV, 513-404-9212 (cell) william.whiteley@aig.com

Website: www.aig.com/RetirementServices

Voya Financial Advisors

Matt Carter, 937-353-5480, 800-451-4702 x4025480, Matthew.carter@voyafa.com

Derek Stiles, 937-353-5472, 800-451-4702 x4025472, derek.stiles@voyafa.com

Jeff Rankin, CFS, 937-353-5492, 800-451-4702 x4025492, JeffreyRankin@voyafa.com

Website:  www.voya.com

Ohio Deferred Compensation (457 Plan)

Tom Bugher, CRC, ChFC, 513-829-6499, main office: 877-644-6457


Taking a Loan From Your ARP

A loan cannot be made from any other account under a Plan (such as an employer contribution account), but such accounts are considered for purposes of calculating the maximum amount of the loan.

The maximum amount that a participant may borrow from a Plan is the lesser of:

  1. 50% of your vested account under the Plan, or
  2. $50,000 reduced by the greater of:
    1. the highest outstanding aggregate loan balance for the Plan during the one-year period ending the day before the loan is approved (not taking into account any payments made during this one-year period); and
    2. the outstanding aggregate loan balance from the Plan on the day the loan is made.

A vendor's investment contracts may provide further restrictions on the amount you may borrow under the Plan.

The 403(b) and ARP Plan are aggregated for purposes of these rules. A loan under the ARP is treated as if it were a loan under the 403(b) Plan, and vice versa and the vested account under the ARP is treated as if it were a vested account under the 403(b) Plan, and vice versa. Notwithstanding, a participant is not eligible for a loan amount that would exceed the loan amount available under each Plan on its own.

Annual Limits

Regular Deferral Limit: $19,500
Age 50+ Deferral Limit: $26,000

Electing Your Investments

Use these guides and your vendor advisor to help you make your investment elections.

Comparison of Plan Providers
Comparable Fund Illustration-Lincoln
AIG Fund-Mapping Guide
AXA Fund-Mapping Guide
TIAA Fund-Mapping Guide
VOYA Fund-Mapping Guide