Supplemental Retirement


Coppin State University offers an exceptional opportunity to save for the future while reducing your present tax liability. Employees may choose from among three attractive plans, each having various investment and service features. These savings plans, known as Supplemental Retirement Accounts (SRA), are designed to provide significant advantages for financial growth to supplement your retirement income. Your payroll contributions, as well as the earnings on your account, are tax sheltered. Therefore, you do not pay federal or state income taxes on these payroll deductions or the earnings until you withdraw the funds, usually at retirement.

Participation in any tax deferred investment plan will not affect future benefits from any retirement plan or Social Security. If you separate employment with the University System of Maryland, you will not be eligible to make direct payments on a tax sheltered basis to any of the plans offered at the University since all contributions must be made through payroll deductions while employed. However, you may choose to leave your money in the investment plan and receive these benefits at a later time.

Participating organizations will calculate your salary deduction possibilities based upon such factors as your current salary, your retirement plan and contributions into other tax deferred plans. Call the Office of Human Resources at 410-951-3666 to schedule an appointment with a Supplemental Retirement Plan representative.

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Hardship Withdrawals and Unforeseen Emergency Distributions