The University of South Florida provides employees the opportunity to participate in several different retirement and savings programs. All regular Faculty, Administration, and Staff employees are required to participate in a retirement plan sponsored by the State of Florida.
For our part-time, seasonal and temporary employees not covered by the Florida Retirement System, the University of South Florida offers a qualified 401(a) – FICA Alternative retirement plan. Eligible employees are automatically enrolled in this Temporary Employee Retirement Plan (TERP) upon employment.
Additionally, all Employees can participate in the voluntary retirement savings plans offered by the University of South Florida. 403(b) Tax Sheltered Annuities and 457 State Deferred Compensation plans offer employees the opportunity to save money for retirement while reducing their current income tax liability.
Employees who take a distribution/rollover or receive a benefit from their State of Florida retirement plan at the time of termination are considered retirees from the University or State. Retirees seeking re-employment should consider the impact of any re-employment. View more information about retiree re-employment.