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Hi there--
I work at a university. I have a pension plan here, but I have a question about this. Is the pension the same as 403(b)?? I have heard conflicting answers from people around here and so I'm totally confused.

As an employee, I make a mandatory 5% contribution and the university makes an 8% match. 8% of what exactly? Of my salary? (My investment vehicle is TIAA-CREF--chosen from about 4 or 5 choices.)

Then I heard that the 403(b) you have to enroll in separately because it's money that's above the 5% that you have contributed.

I mean, listen, I'm not a dumb person (I am a Fool, however..ha!), but for someone who's never had this type of a plan at their disposal, I don't know what anything is. And they really did a poor job at the orientation of telling us what the heck stuff was.

So I'm turning to you, fellow Fools, for help!

Thanks much-
LabMouse
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