It is never too early or too late to start saving for your future. The University has two voluntary retirement programs you may enroll in through Employee Self-Service to contribute before-tax and after-tax contributions (over and above required contributions) within IRS guidelines. These savings plans can be started, stopped, or changed anytime during the year. Please note that the University of Iowa does not contribute to these plans.
Why Enroll in a VRSP or 457(b) Plan?
Voluntary retirement plans offer flexibility and control to help you build additional financial security beyond mandatory contributions. You might consider enrolling if you:
- Want to save more for retirement beyond your IPERS or TIAA contributions
- Prefer tax advantages—choose pre-tax to lower taxable income now, or Roth after-tax for potential tax-free withdrawals later
- Are age 50 or older and want to take advantage of catch-up contributions
- Have a high income and want to maximize annual IRS contribution limits
- Value investment choice—select from multiple vendors and investment options (403(b))
- Want to diversify your retirement savings across different tax treatments and plan types
Both plans are flexible: you can start, stop, or change contributions at any time.
Note: Everyone’s tax situation is different. Be sure to review your options carefully and consult a financial advisor to determine what’s best for you.
Eligibility to Participate
All faculty and staff (regular employees, including house staff members, postdoctoral research scholars and interns, and temporary staff) whose wages are subject to tax withholding can enroll in a voluntary retirement plan to make pre-tax contributions.
Review Your Voluntary Plan Options - VRSP 403(b) & 457(b)
You can contribute to one of these plans or maximize your savings using both.
If you elect to participate in both the VRSP and the 457(b), the VRSP deduction will occur first, followed by the 457(b) deduction.
403(b) Voluntary Retirement Savings Program (VRSP)
- Type: Tax-Deferred Annuity Plan
- Benefits: Save pre-tax or Roth after-tax dollars with tax-deferred growth.
- Eligibility: All faculty and staff with taxable wages.
- Contributions: Subject to IRS limits; catch-up allowed at age 50+—no university match.
- Vendors: Multiple approved providers available.
- Enrollment: Enroll with a vendor, then complete setup in Employee Self-Service.
Additional VRSP Information
Additional VRSP Information
The names of companies approved to sell VRSPs to University of Iowa eligible employees are as follows. Below, you will find the company's name and a list of agents and their phone numbers.
- Ameriprise Financial
- Ameritas
- Fidelity Investments
- Pacific Life
- TIAA
- Voya Reliastar
How much can you contribute?
Our 403(b) permits employee pre-tax or after-tax (Roth) contributions up to the IRS limit. There is no employer contribution to this plan.
Your Roth after-tax contributions are included in your maximum contribution limits, plus any catch-up limits, if applicable. Your plan's Roth 403(b) option offers the same benefits, rights, and features currently in your retirement plan, including investment choices. In addition, your contributions and any accumulations you have are tracked separately to ensure that they are not co-mingled with any pre-tax or employer contributions you may have.
403(b) Companies and Agents List
Ameriprise Financial
The list of agents has been updated as of 5/7/2025. If you know of any corrections or updates, please contact University Benefits at benefits@uiowa.edu.
| Name | Phone Number | |
|---|---|---|
Basecamp Financial Planners
| 319-268-4334 | stephanie.l.arensdorf@ampf.com |
| Blessing, Michael | 563-344-9535 | michael.s.blessing@ampf.com |
| Glaw, Todd A. | 319-268-4310 | todd.a.glaw@ampf.com |
| Inman, Devon | 319-337-9620 | devon.inman@ampf.com |
| Leibfried, Scott | 563-556-7132 or 800-247-1773 | scott.g.leibfried@ampf.com |
| Rindels, Rob | 319-337-9620 | robert.j.rindels@ampf.com |
| Shelman, Brad | 319-337-9620 | bradley.l.shelman@ampf.com |
| Shelman, Bryce | 319-337-9620 | bryce.shelman@ampf.com |
Wealth Partners
| Office: 319-337-2263 |
Ameritas
The list of agents has been updated as of 5/7/2025. If you know of any corrections or updates, please contact University Benefits at benefits@uiowa.edu.
| Name | Phone Number | |
|---|---|---|
| Castle, Kevin | 319-248-1673 | kevin@castlefinancialservicesinc.com |
| Jackman, Jacqueline | 319-631-0758 | jackiejkj9@aol.com |
| Miller, Merle | 319-354-6506 | merlem@hawkeyebrokerage.com |
| Robinson, Bob | 319-626-3575 | bobr@hjrfinancial.com |
Fidelity Investments (plan #08147)
The list of agents has been updated as of 5/7/2025. If you know of any corrections or updates, please contact University Benefits at benefits@uiowa.edu.
Fidelity Plan # 08147
| Name | Phone Number | Notes | |
|---|---|---|---|
| Cronick, Jason | 402-682-1653 | jason.cronick@fmr.com | Open Your Accout |
| Robinson, Bob | 319-626-3575 | bobr@hjrfinancial.com |
Pacific Life
The list of agents has been updated as of 5/7/2025. If you know of any corrections or updates, please contact University Benefits at benefits@uiowa.edu.
| Name | Phone Number | |
|---|---|---|
| Adamson, Craig | 319-373-4124 | craig.adamson@truewealthstewardship.com |
| Cecil, Andrew | 319-325-3831 | andrew.cecil@berthelrep.com |
| Haluska, Adam | 319-338-3799 | adam.haluska@wellsfargoadvisors.com |
| Margolin, Ben | 319-331-8953 | ben.margolin@nm.com (not taking new customers) |
| Wehrheim, Eugene | 319-294-3131 | ewehrheim@nationsfg.com |
| Yearian, Cory | 319-344-4456 | cyearian@sierraridgewealth.com |
TIAA
The list of agents has been updated as of 5/7/2025. If you know of any corrections or updates, please contact University Benefits at benefits@uiowa.edu.
| Name | Phone Number | |
|---|---|---|
| Hagen, Mark | 319-356-8007 | MHagen@tiaa.org |
| Webb, Cindy | 319-356-8037 | Cindy.Webb@tiaa.org |
Voya Reliastar
The list of agents has been updated as of 5/7/2025. If you know of any corrections or updates, please contact University Benefits at benefits@uiowa.edu.
| Name | Phone Number | |
|---|---|---|
| Kelso, Brian | 319-656-3330 | advisors@financialconcepstllc.net |
| Sullivan, Timothy | 319-656-3330 | tim.sullivan@financialconceptsllc.net |
| Vosler, N. Barry | 563-659-5139 | barry.vosler@lpl.com |
457(b) Deferred Compensation Plan
- Type: Governmental Deferred Compensation Plan
- Benefits: Save pre-tax or Roth after-tax dollars beyond 403(b) limits.
- Eligibility: All benefit-eligible employees.
- Contributions: Separate IRS limits; catch-up allowed—no university match.
- Vendor: TIAA only.
- Enrollment: Enroll with TIAA, then complete setup in Employee Self-Service.
Additional 457(b) Information
Additional 457(b) Information
The 457(b) is a tax-deferred compensation plan available to all eligible employees (those with income subject to tax withholding). It allows you to make additional contributions, up to the IRS limit, toward your retirement apart from any mandatory contributions to a retirement plan.
How does participation in the 457(b) plan affect your VRSP?
- You can participate in the Voluntary Retirement Savings Program (VRSP), the 457(b) plan, or both.
- If you elect to participate in both the VRSP and the 457(b), the VRSP deduction will occur first, followed by the 457(b) deduction.
Enrollment
How to Enroll
- Regular faculty, staff, and house staff: Use Employee Self-Service to enroll or make changes.
- Bi-weekly employees: To enroll in voluntary retirement savings plans, email benefits@uiowa.edu to request the workflow form.
Enrollment Timing
Retirement plan elections and changes take effect the first of the following month, if submitted at least five business days before the end of the month (the payroll processing cutoff). Changes will appear on your next paycheck.
How to Enroll Instructions
403(b) Regular Benefit-eligible Employees
VRSP 403(b) Account Enrollment
This accordion item will walk you through enrolling in the Voluntary Retirement Savings Program (VRSP), a 403(b) account through your Employee Self-Service.
Companies or Agents Available
The University offers six different companies or agents that have been approved for eligible employees to set up a VRSP 403(b) account with the following:
- AMERIPRISE FINANCIAL
- AMERITAS
- FIDELITY INVESTMENTS
- VOYA RELIASTAR
- PACIFIC LIFE
- TIAA
Once you have determined who you will be saving extra with, complete the following steps:
Step 1:
Contact the approved vendor you have chosen and proceed by opening your account with that vendor.
If you are selecting TIAA as your VRSP 403(b) approved company, please follow these initial instructions:
- Visit the TIAA website.
- Select "Ready to Enroll" (even if you have previously set up an online account with TIAA)
- Enter your existing password or create one. Follow any additional instructions given. Don't forget to update your address and name beneficiaries.
(Continue to Step 2)
Step 2:
Log in to Employee Self-Service and proceed to the "Benefits & Wellness" tile, select the "Retirement" link, and then select the "Voluntary Retirement Saving Program (VRSP) 403(b)" link.
Step 3:
Select the "Add New Retirement Account" button, check the box next to the approved company with which you opened a VRSP 403(b) account, and select the green "Continue to My Monthly Contributions" button.
Step 4:
Elect your monthly contribution amount. Follow any additional instructions given.
457(b) Regular Benefit-eligible Employees
Deferred Comp Plan 457(b) Enrollment
The 457(b) is a tax-deferred compensation plan available to all eligible employees. It allows you to make additional contributions toward your retirement up to the IRS maximum, apart from any mandatory contributions to a retirement plan.
TIAA is the only Deferred Compensation 457(b) plan vendor.
How to Enroll in the TIAA Deferred Comp 457(b) plan
If your TIAA account is not set up, your contributions will not be applied to your 457(b) account.
Step 1:
Create your 457(b) account on the TIAA website first.
- Select "Ready to Enroll" (even if you have previously set up an online account with TIAA).
- Enter your existing password or create one. Follow any additional instructions given. Don't forget to update your address and name beneficiaries.
Note: If TIAA is asking you to enter an access code, please use 407892
Step 2:
Once your TIAA 457(b) account has been created, you may now enroll online through Employee Self-Service.
- Select the Benefits and Wellness tile >> Retirement >> 457(b) Deferred Compensation Plan.
- Select the "Add New Retirement Account" button and choose the TIAA box, select the green "Continue to My Monthly Contributions" button.
- Elect your monthly contribution amount. Follow any additional instructions given.
403(b) and 457(b) for Bi-Weekly Employees
Bi-Weekly Employees
For employees who are paid on a bi-weekly basis and wish to enroll, please get in touch with our office at benefits@uiowa.edu for the link to the workflow form to complete your request.
Limits and Catch-up Contributions
Employees age 50 or older can contribute additional money to their voluntary 403(b) and 457(b) plans, known as catch-up contributions. Plan participants are limited to how much money they may contribute as catch-up each year.
The IRS catch-up contribution limit for 2025 is $7,500. When combined with the $23,500 403(b)/457(b) annual limit for everyone else, employees age 50 or older may save $31,000.
Beginning in 2025, there’s a new IRS catch-up limit for employees who are 60 to 63. During that age range, employees are allowed to contribute higher catch-up amounts. For 2025, the new catch-up amount for 60 to 63-year-olds is $11,250. When combined with the $23,500 limit for 403(b) and 457(b) plans, employees may save up to $34,750.
When electing your catch-up contribution amounts in Employee Self-Service, you may choose between pre-tax and Roth (after-tax) contributions.
| 2025 MaxiMum limits | 2024 Maximum limits | |
|---|---|---|
| VRSP 403(b) and 457(b) Contribution Maximum | $23,500 | $23,000 |
| Catch-up contribution limit (age 50-59 and 64+) | $7,500 | $7,500 |
| Catch-up contribution limit (age 60, 61, 62, 63) New limit effective Jan. 1, 2025 | $11,250 | N/A |
VRSP
The amount you may defer to the Voluntary Retirement Savings 403(b) account is limited. Our VRSP system uses calculations based on the monthly salary and does not include compensation paid for short-term appointments (such as temporary summer appointments) outside your "normal" salary.
How does participation in the 457(b) plan affect your VRSP?
You can participate in the Voluntary Retirement Savings Program (VRSP), the 457(b) plan, or both. For 2025, the maximum allowable contribution is $23,500 for each plan or $47,000 for both programs. The system will take your VRSP contribution first, and then your 457(b) deduction.
ABOUT OUR SITE:
The information on our website describes only the highlights of the plans and does not constitute official plan documents. Additional terms and conditions may apply. If there are any discrepancies between the information contained herein and the official plan documents, the plan documents will govern.