91AV

91AV is a great place to work, and also a great place to save for retirement. Our retirement plan enables full- and half-time faculty and staff to build long-term savings as a source of income after you retire.

We match your contributions up to 8% after 12 consecutive months of eligible service. Any University-matching contributions made to your account are 100% vested once we have made those contributions.

Once enrolled in benefits, we recommend that you regularly review your contact information (mailing address, email, and phone number) with elected insurance carriers to make sure it is up-to-date.

Since January 1, 2015, all retirement contributions have been made to Fidelity Investments.

Learn more about your Fidelity benefits

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Although new retirement contributions are being made through Fidelity Investments, you may have previous investment balances with TIAA-CREF that require your continued attention.

Learn more about remaining TIAA-CREF benefits

Effective January 2024, 91AV will be providing the employer match, up to a combined match limit of 8%, for both pre-tax and Roth (post-tax) employee contributions to the Fidelity 403(b) retirement plan. This change will provide you with more options for your retirement planning. 

Unlike a traditional pretax 403(b), the Roth 403(b) allows you to contribute after-tax dollars now allowing you the potential for tax-free retirement income. There are several things you might like to review if you are considering a Roth 403(b) (PDF). Additionally, it is recommended that you speak with your financial advisor or a Fidelity Investments representative.

All 403(b) and Roth 403(b) retirement plan investment funds are selected directly through Fidelity Investments by logging into your online account or speaking with a Fidelity Investments representative. Fidelity Investments representatives and their online retirement planning tools can assist with your retirement planning decisions.

What to Consider As You Get Ready to Retire or Become Eligible for Medicare

Many things need to be considered as you become eligible for Medicare or contemplate the steps toward retiring. The decisions you are making in the 18-month period prior to making these transitions can have significant impacts.

In an effort to assist you through this transition we have assembled some resources that others have found useful when planning their retirement.

Important considerations, resources, and contacts

Local Social Security Office

Review your Social Security benefits and the process of receiving this benefit. It is recommended to start the Social Security application process for your retirement benefits three months before you want your payments to start. The most secure way to apply for Social Security benefits is in-person at your local SSA office.

Portland Location

550 Forest Ave Suite 150
Portland, Maine 04101
1-877-319-3076

Saco Location

110 Main Street
Saco, Maine 04072
1-877-253-4715

Southern Maine Agency on Aging (SMAAA)

Provides many services and programs for adults 60 and older to help you navigate insurance and Medicare options. including seminars and 1:1 sessions. People have found that contacting them at least 6 months prior to the anticipated retirement date to discuss the timing and process of enrolling in Medicare has been helpful.

Location

Sam L. Cohen Center
30 Barra Road
Biddeford, ME 04005
(207) 396-6500

Resources

• Medicare and health insurance counseling opportunities 

Official Medicare Website and Phone Number

• 1-800-MEDICARE

Health Savings Account (HSA) Considerations

Remember that you cannot enroll in the high deductible medical insurance plan (associated with a Health Savings Account) if you have other coverage, including Medicare Part A. In addition, there may be tax implications if you contribute to an HSA (including 91AV’s employer contribution) within 6 months of turning age 65 and enrolling in Medicare Part A. Contact a tax and/or financial advisor for further guidance.

Fidelity

Michael Fraser, 91AV’s dedicated Fidelity workplace planning and guidance consultant, offers 1:1 meetings twice a month to help answer questions as you prepare for retirement. Please bring relevant account statements and any paperwork to help address your questions and needs. Appointments are required. or call 1 (800) 642-7131. For general information, call 1 (800) 343-0860 or view and .

Health Advocate

Even if you are not ready for retirement, Health Advocate is a free and confidential resource that sets you up with a Personal Health Advocate to help walk you through your choices as you decide on continuing with 91AV’s medical insurance plan or consider electing Medicare coverage. They will explain all the parts of Medicare coverage (A, B, C, D, and Medigap), can review the costs of 91AV’s plans and Medicare plans, help you compare coverages side by side, and inform you of important enrollment deadlines to avoid penalties. They can even help you sign up for Medicare when you are ready. Contact them at 1 (866) 695-8622

Nearing 65 and need to know about Medicare (PDF)