University of Alaska Pension Plan

Regular full-time and part-time faculty and staff first hired on or after July 1, 2015 are eligible for the Pension Plan.

Employees first hired between July 1, 2006 and June 30, 2015, must have elected the Optional Retirement Plan to participate in the Pension Plan, even if rehired after June 30, 2015.

Employer Contributions:
  • The University of Alaska contributes 7.65 percent of the eligible employee's salary (up to maximum annual wage base of $42,000) to the UA Pension Plan
    • This is a maximum of $3,213.00 per year
  • Employees do not contribute to this plan
Vesting:
  • All new employees hired after July 1, 2006 must be employed in a benefited position for over 3 calendar years to be fully vested in the Pension Plan.
  • 3 year cliff vesting
    • 0-3 calendar years of service not vested
    • 3 + calendar years of service fully vested

Employees hired before July 1, 2006, were 100 percent vested in the plan from the date of hire or eligibility. 

New employees must complete the Fund Sponsor Enrollment/Change form within 30 days from their date of hire to select a fund sponsor to manage their UA Pension   

If no selection is made, employees are defaulted into an account managed by Fidelity.

To manage your UA Pension, you'll need to contact your fund sponsor directly or login to your online account. The following fund sponsors manage the UA Pension: 

Fidelity Lincoln National TIAA VALIC

Fidelity Investments 
P.O. Box 770001 
Cincinnati, OH 45277-0037

Pre-Login Site

Lincoln Financial Group
P.O. Box 21008
Greensboro, NC 27420-1008
TIAA
P.O. Box 1259
Charlotte, NC 28201
VALIC
P.O. BOX 15648 
Amarillo, TX 79105-5648
(800) 343-0860

(800) 348-1212

Anchorage - 561-3187

Fairbanks - 452-6393

(800) 842-2776

(800) 448-2542

Anchorage - 279-8302

Fairbanks - 458-0101


You may change fund sponsors at any time using the Fund Sponsor Enrollment/Change form

Once submitted, the change will affect where new contributions are deposited and will not automatically transfer account balances.  An employee may also keep the accounts separate or consolidate accounts. To combine funds the employee will need to contact the old fund sponsor to obtain rollover form  to transfer the balance from the old fund sponsor to the new fund sponsor. 

Beneficiaries 

It is the employee's responsibility to maintain accurate beneficiary records with their managing fund sponsor. Contact your managing fund sponsor or login to your account to update/review your beneficiary designations.

To avoid additional tax penalties, it is recommended to wait to withdraw your retirement account until you have reached age 59-1/2.

No withdrawals can be made from your account until 45 days after you quit working. Once this waiting period has been observed, you will have different options to choose how you receive your account balance. Contact your fund sponsor directly to discuss these options. 

For additional information, review the Retirement Checklist, Exit Guide, or contact ua-benefits@alaska.edu

If you have retired or separated from the University and wish to complete a distribution, withdrawal, or rollover you will need Plan Sponsor approval. Please follow the instructions below to obtain that. 

Send the form to UA for employer authorization. You can fax it to (907) 450-8201, upload it to Spoke (ua.askspoke.com), or mail it to UA Human Resources, PO Box 755140, Fairbanks AK 99775-5140. We'll complete the employer part and forward it on to the fund sponsor.

Need help? Contact ua-hr@alaska.edu for assistance with distribution, withdrawal, and rollover requests.