Special Pay plan
Welcome to your Special Pay retirement plan. Click below to view the features and highlights of your employer’s retirement plan.
The plan highlights are only a brief overview of the plan's features and are not a legally binding document. The information in this section does not modify the terms of the plan and in the event of a conflict, the terms of the plan control.
Participation in the plan is open to:
There is no age or service requirement for eligible employees to participate in the plan. You can join the plan after your first hour of service.
The Special Pay Plan allows the University of Florida to make contributions.
Vesting refers to your "ownership" of a benefit from the plan. Employer contributions to the plan, plus any earnings they generate, are fully and immediately vested.
You decide how to invest your plan account, selecting from investment choices provided under the plan, as determined by the University of Florida Board of Trustees.
Money can be withdrawn from the plan in these events:
Income taxes are payable upon withdrawal and federal restrictions and a 10% federal tax penalty may apply to early withdrawals. Be sure to talk with your tax advisor before withdrawing any money from your Plan account.
The following mutual funds and Fixed-Interest Option are available in your retirement plan. They provide you with the flexibility you need to create a suitably diversified portfolio that matches your personal retirement time horizon, investment risk tolerance and investment preferences.
You decide how to invest your plan account, selecting from investment choices provided under the plan, as determined by the University of Florida. You may change your investment choices once per month.
To view or print a prospectus, access “Prospectuses and Other Important Materials.” The prospectus contains the investment objectives, risks, charges, expenses and other information about the respective investment companies that you should consider carefully before investing. Please read the prospectus carefully before investing or sending money. You can also request a copy by calling 1-800-428-2542.