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UW Health SMPH
American Family Children's Hospital
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Retirement Benefits and Savings Plans

Please Note

This information refers to benefits and compensation for UW Hospital and Clinics residents and fellows. For information about Family Medicine residency and fellowship benefits and compensation, go to the UW Department of Family Medicine site.

Optional Retirement Savings

 

Residents and fellows may elect to set aside money for retirement on a pre-tax basis. Contributions to the plan are made solely by the employee. There is no match made by the employer. Residents and fellows may elect to enroll in either or both a tax sheltered annuity (TSA) or the Wisconsin Deferred Compensation plan at any time.

 

Plan Highlights

  • Deductions will begin as soon as administratively possible. 
  • Maximum annual deferral for 2013 is $17,500. 
  • For employees 50 years of age or older, an additional $5,500 can be invested in 2013 for an annual maximum of $23,000. 
  • The deferred amount can be changed or stopped at any time by submitting a Salary Reduction Agreement (pdf).
  • Deductions are taken pre-tax from your paycheck and invested directly to the TSA vendor account that is established. 
  • Rollovers between retirement plans; 403b, 401k, 457, and IRAs are allowed. 

Tax-Sheltered Annuities (TSA)

 

Enrollment

  • Contact a vendor from the Supplemental Retirement Plans (pdf). Identify yourself with the account number listed on the Supplemental Retirement Plans and request a 403b enrollment kit (be sure to identify yourself as a UWHC employee, and not a UW employee). 
  • Submit the completed enrollment application directly to the vendor.
  • When you receive confirmation that your account has been established, submit a Salary Reduction Agreement (pdf) to Human Resources. Please include your TSA account number. 
  • Additional 403(b) Information (pdf)

Changes

Wisconsin Deferred Compensation (WDC)
  • To enroll or change your  Wisconsin Deferred Compensation contribution, contact WDC online at www.wdc457.org or (608) 241-6604. 
  • The WDC 457 also provides UWHC employees with the option to contribute on an after-tax basis through a Roth Savings Plan. If you would like to learn more about this plan, please review the WDC Roth Option flyer (pdf).
  • Additional WDC Information (pdf)

Other Savings Plans

  • Savings Bonds
     
    Savings bonds earn market-based interest with a guaranteed minimum rate, and are exempt from state and local income tax. If bonds are used for post-secondary education, they are exempt from Federal taxes.
     
  • EdVest: A Savings Plan for Your Children's Education
     
    EdVest is a state-sponsored Section 529 college savings program administered by the Wisconsin Office of the State Treasurer. Strong Capital Management, Inc., a registered investment advisor, manages the program. Contributions to your EdVest account are placed in a trust, which consists of a variety of investment options.