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Faculty Benefits

The University of Richmond offers an extensive benefits package that includes comprehensive health insurance, a 403(b) retirement plan, and tuition remission covering both credit and non-credit courses, in addition to countless other programs and services offered to eligible faculty.


The University of Richmond offers tuition remission, covering both credit and non-credit courses for eligible employees and their dependents. The University is a member of two tuition exchange programs, making it possible for a full-time employee's dependent child(ren) to attend participating colleges or universities through a competitive scholarship program.

Retirement Plan

The University of Richmond Retirement Plan is a 403(b) defined contribution plan. All employees are able to contribute money to the 403(b) supplemental retirement annuity immediately. Eligible employees receive a five percent University contribution to the 403(b) retirement annuity. In addition, the University will match up to an additional five percent to the employee's retirement annuity.

The Faculty Phased Retirement program is intended to provide long-serving tenured faculty members with the opportunity for a gradual transition from full-time teaching to full retirement. The phased retirement program may last either two or three years.