Retirement Healthcare Savings Plan
Employees may choose to particpate in USU's optional Retirement Healtcare Savings Plan at any time.
To participate, the minimum yearly contribution is $200/yr.
Contributions are made through post-tax payroll deductions. The money you contribute belongs to you, and grows tax free. It is only available to you when you leave the University, by retiring or due to end of employment. The funds must be used for health care expenses for yourself, your spouse, or qualified dependents. The purpose is to save for medical expenses in retirement, however you may use this money to pay for COBRA premiums if you leave the University. The RHSP is administered by TIAA-CREF.