Retirement Savings and Planning

Retirement Savings

Over 60% of employees say their employer retirement plan is their primary means of saving for retirement. Columbia University provides you with the opportunity to save for the future through a retirement savings program that includes 1) Voluntary Retirement Savings Plan (VRSP); and 2) University Retirement Plan.

Make the Most of Your Retirement Benefits

1. Contribute to the VRSP via payroll deductions. If you’re not contributing, log in to CUBES, choose a contribution amount and make pre-tax and/or Roth elections. If you’re already contributing, look at your payroll statement to see how much you’re saving and think about increasing your contributions.

2. Model your plan contributions. Use the retirement calculator in CUBES to see how different election percentages affect your paycheck contributions.

Know your limits! The IRS limits how much you are able to contribute each year. It is your responsibility to ensure your annual contributions across all pre-tax and after-tax retirement plans are under the limit

To learn more about the retirement benefits the University provides, and the resources that can help you develop a sound savings strategy, visit the Retirement Savings & Financial Planning page.