You may enroll in the MCCMP at any time, as long as you are participating in the Virginia Retirement System (VRS), the Optional Retirement Plan (ORP), or the Medical Center Retirement Plan. You must meet this eligibility requirement and open an MCCMP account.

Employees do not make contributions to the MCCMP.

The IRS contribution limit for 2025 is $23,500.

For Medical Center employees hired on or after September 30, 2002, the University of Virginia will match contributions at 50% up to 4% of salary, not to exceed a 2% employer match contribution. For Medical Center employees hired prior to September 30, 2002 who participate in the Medical Center Retirement Plan or any Medical Center employees who participate in the Virginia Retirement System regardless of their date of hire, the University of Virginia will match contributions at 50% up to a maximum as determined by the General Assembly. As of July 1, 2000, the monthly maximum is $40.

You are immediately 100% vested in your UVA MCCMP account, including all contributions and any earnings on them.

To help you meet your investment goals, the Plan offers you a range of options. You can select a mix of investment options that best suits your goals, time horizon, and risk tolerance. The 44 investment options available through the Plan include conservative, moderately conservative, and aggressive funds. A complete description of the Plan’s investment options and their performance, as well as planning tools to help you choose an appropriate mix, are available online.

We encourage you to take an active role in the University of Virginia Retirement Plans and choose investment options that best suit your goals, time horizon, and risk tolerance. If you do not select specific investment options in the Plan, your contributions will be invested in the Vanguard Target Retirement Fund with the target retirement date closest to the year you might retire, based on your current age and assuming a retirement age of 65, at the direction of University of Virginia.

If no date of birth or an invalid date of birth is on file at Fidelity your contributions may be invested in the Vanguard Target Retirement Income Fund. More information about the Vanguard Target Retirement Fund options can be found online.

Target Date Funds are an asset mix of stocks, bonds and other investments that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed.

If the idea of getting professional help to manage your investments appeals to you, your plan offers Target Date Funds. With Target Date Funds, the investment mix of stocks and bonds automatically becomes more conservative as the target retirement date approaches. Principal invested is not guaranteed at any time, including at or after the fund’s target date. Choose the fund that represents your anticipated year of retirement.

For those desiring the most investment flexibility and choice, the Plan offers Fidelity BrokerageLink^®, a self-directed brokerage account, which provides you with the opportunity to select from thousands of mutual funds and other investment options - beyond those offered in the standard plan lineup. More information about BrokerageLink^®, including an overview, the commission schedule, and a fact sheet that outlines the Plan-level restrictions and other settings, is available online at NetBenefits. Click on "Quick Links," then select "BrokerageLink."

Loans are not available in this Plan.

Withdrawals from the Plan are generally permitted when you terminate your employment, retire, reach age 59½, become permanently disabled, or have a severe financial hardship, as defined by your plan.

Learn more about and/or request a withdrawal online, or by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.

Rollovers are not permitted in the MCCMP.

Learn about exchanges, withdrawals, and more online. In particular, you can access a withdrawal modeling tool, which shows the amount of federal income taxes and early withdrawal penalties you might pay, along with the amount of earnings you could potentially lose by taking a withdrawal. Additional information can be obtained by calling the Fidelity Retirement Benefits Line at 1-800-343-0860.