Welcome to the University of South Florida website. We are pleased to partner with AIG Retirement Services to provide a wealth of information about your retirement benefits. As the provider for your Voluntary 403(b) Savings Plan and your USF Temporary Employee Retirement Plan (TERP), AIG Retirement Services is committed to providing personal service whenever and wherever it is convenient for you.
TERP is a qualified retirement plan under federal tax law that covers part-time, seasonal and temporary employees of the University who are not covered by the Florida Retirement System. The plan provides an alternative benefit to Social Security and exempts you from FICA (Social Security) payroll taxes. You continue to pay Medicare taxes on your wages. Enrollment in the plan is automatic for each eligible employee who works in a position covered by the plan.