Academic Enrichment Fund
403b Retirement Annuity Program
AEF Faculty Retirement Plan Document As Amended and Restated January 1, 2009.
Full time, part time or visiting faculty members ranked Lecturer and above, with salary from the Academic Enrichment Fund (AEF) receive a monthly employer contribution to the AEF savings plan highlighted below. Annual compensation limits and annual contribution limits are established by the I.R.S.
The rate of contribution will equal the current Optional Retirement Program rate (currently 5.14%).
Beginning January 2021, Fidelity Investments will be the sole record keeper for the University of Florida defined contribution plans. This includes the J. Hillis Miller Health Center 403b plan.
Employer contributions in the AEF are at the rate of 5.14% and a mandatory employee contribution of 3% will automatically be withdrawn from the AEF salary. Voluntary employee contributions are not permitted to this plan.
Clinical Faculty will have an account automatically opened with Fidelity Investments to administer their AEF account.