Kansas Board of Regents Plan
The KBOR Mandatory Retirement Plan (pdf) is a 403(b) defined contribution plan for eligible faculty and unclassified professional staff at the six state universities and the Kansas Board of Regents Office.
Eligible faculty and unclassified professional staff must participate in the plan and will either serve a one year waiting period upon hire or be immediately eligible to participate as explained below.
Eligibility for Immediate Participation
Employees may be eligible for immediate participation in the KBOR Mandatory Retirement plan if either of the waiver provisions apply:
- You were covered, as a result of employment with an institution of higher education located in the United States, by a retirement plan or program to which employer contributions were made for at least one year (365 days) within the five year period immediately preceding employment with KU, or
- You participated at least one year (365 days), including time in a waiting period, in another State of Kansas retirement plan (KPERS or mandatory deferred compensation) within the five year period immediately preceding employment with KU.
Forms must be completed and timely submitted to enroll in the KBOR Mandatory Retirement Plan and to determine eligibility for the waiver provision. Please follow the enrollment process outlined below.
Within your first 30 days of employment, please complete the KBOR Retirement Data Form (pdf) and submit it to the Benefits office by either fax to 785-864-5200 or by encrypted email to firstname.lastname@example.org.
If you meet the criteria to immediately join the KBOR Mandatory Retirement Plan, you must have a completed KBOR Retirement Verification Waiver Form (pdf) returned to Benefits within 90 days of your hire date. You can submit this form to the Benefits office by either fax to 785-864-5200, or by campus mail to "Human Resources - Benefits". You will also need to submit the Investment Agreement for the KBOR Mandatory Retirement Plan (pdf). You will also need to enroll online(pdf) with the vendor you choose to invest with (TIAA or Voya) to open your investment account.
If Benefits determines that you are not eligible for immediate participation, the Benefits Office will inform you and then, close to the end of the one year waiting period, the Benefits Office will send you information about enrolling in the KBOR Mandatory Retirement Plan.
- Your contributions are 5.5% of gross compensation and are tax deferred
- Your employer contributions are 8.5% of gross compensation.
- Your total contributions may be capped based on IRS maximum annual contribution limits.
You are immediately vested with all contributions made to the plan and earnings.
You are eligible to retire from ages 55 to 59 with 10 years of service in a benefits-eligible position at a KBOR state university or with the Board of Regents Office. You are also eligible to retire at the age of 60 regardless of your years of service. Your retirement income will be determined based on the amount of funds available in your account, the income option(s) you select, and your age.
You may select one of two approved investment providers to manage you retirement contributions:
*An accessible version of the documents on this site will be made available upon request. Please contact our office at email@example.com to request the document be made available in an accessible format.