Retirement Planning for University Professors and Faculty
Specialized financial planning for Arizona's university communities, from your first 403(b) contribution to your ASRS pension payout and beyond.
For more than 40 years, Consilium Wealth has helped University of Arizona and Arizona State faculty, staff, and their families turn complex benefit packages into clear retirement plans. We know the systems you live inside, including the 403(b), 401(a), and 457 plans, the ASRS pension, the Optional Retirement Plan, and Fidelity and TIAA recordkeeping, because we've guided faculty through them for four decades.
Most financial advisors treat a professor's retirement like anyone else's. It isn't. Your compensation structure, sabbatical timing, phased retirement options, and the interplay between your university plans and Social Security create planning questions that off-the-shelf advice can't answer. That specialized knowledge is the difference between a generic projection and a retirement plan you can actually retire on.
As Accredited Investment Fiduciaries (AIF®), we are legally bound to act in your best interest, not to sell a product, and not to serve any institution but you.
The Value of Working With a Financial Advisor
For faculty navigating complex retirement plans, the right guidance is the difference between a generic projection and a retirement you can count on.
While 96% report confidence in their financial situation overall, just 21% say they're confident in every aspect of their planning efforts.*
94% of those working with an advisor are confident they can cover essential expenses in retirement, vs. 83% without one.*
84% of high-net-worth individuals want to build their financial knowledge, yet only 54% get it from their advisor.*
What Does a Retirement Plan Review Cover?
A retirement plan review is a structured look at where you stand today and what needs to change to reach the retirement you want. For university faculty and staff, it's also where the moving parts of your benefits finally get examined together, rather than one account at a time. Here's what ours covers.
Your university plans, side by side
We review your 403(b), 401(a), and 457 balances, contribution rates, and the specific funds you hold in each, including how your Fidelity and TIAA accounts are invested. If you're leaving money on the table or carrying funds that no longer fit your goals, this is where we find it.
Your ASRS pension and Social Security timing
We look at your pension payout options and how they coordinate with when you claim Social Security, so the two decisions work together instead of against each other. Small differences in timing can change your lifetime income meaningfully.
Are you on track?
We model whether your current savings rate and time horizon are enough to retire on schedule, and show you in plain numbers what "enough" looks like for your situation, not a generic benchmark.
Investment management and risk
We assess whether your overall asset allocation still matches your goals, time horizon, and risk tolerance, across both your university plans and any outside accounts, and rebalance the strategy as a single coordinated portfolio.
The tax picture, now and later
We review your current and projected tax brackets, the Roth versus pre-tax question for your 403(b), HSA opportunities, and the order in which you'll eventually draw income, so you keep more of what you've saved.
The transition to drawing income
As retirement approaches, we map how you'll turn your 403(b), 457, IRA, and pension into a reliable paycheck, including phased retirement and RASL if they apply to you.
We also confirm the plan around your plan, making sure your estate documents, insurance coverage, and beneficiary designations still reflect your wishes, because a retirement plan that ignores these isn't complete. You leave a review with a clear picture of where you stand, what's working, and the specific next steps to take, all reviewed by Accredited Investment Fiduciaries who are obligated to put your interests first.
Investment Management Aligned With Your Plan
A retirement plan is only as good as the portfolio behind it. Our investment management approach starts with your goals, time horizon, and risk tolerance, then builds a portfolio designed to grow, protect, and preserve assets you've worked your whole career to earn.
Because we're independent fiduciaries, your portfolio isn't steered toward in-house funds. We help you choose investments inside your university plans, answering the "which funds should I actually hold in my 403(b)?" question that recordkeepers rarely will, and we coordinate those holdings with everything you own outside the plans. The result is one investment strategy working toward one retirement goal, monitored and adjusted as your life and the markets change.
When you ask, "Who is watching over my investments?", the answer should be a fiduciary who is accountable to you. With Consilium, it is.
Why University Faculty Across Arizona Choose Consilium Wealth
We've spent 40+ years working exclusively with the plans, pensions, and payout decisions that university employees face. When you ask whether Fidelity or TIAA is the better recordkeeper for your situation, or how to coordinate a 403(b) with a 457, you're talking to advisors who answer these questions every week. As Accredited Investment Fiduciaries, we are obligated to put your interests ahead of our own, so our recommendations are built on your goals, not on commissions.
We're also independent and not tied to any proprietary products. Our longstanding relationships with Fidelity, TIAA, Nationwide, Schwab, and other custodians mean we recommend what fits your plan, not what a parent company requires us to sell. And because retirement planning, tax planning, investment management, estate planning, and protection planning are handled by one coordinated team, your strategies work together and do not unintentionally undermine one another across siloed accounts.
Start With a Conversation, Not a Commitment
The best retirement decisions are made early, with clear information and a fiduciary in your corner. Schedule a no-obligation consultation, and we'll help you understand exactly where you stand and what your next move should be.
Frequently Asked Questions
What is the difference between a 403(b), 401(a), and 457 plan?
All three are tax-advantaged retirement plans common at universities, but they work differently. A 403(b) is your primary voluntary salary-deferral plan, a 401(a) is typically an employer-directed contribution plan with its own rules, and a 457 is a supplemental deferred-compensation plan that lets you set aside additional pre-tax dollars. Many faculty are eligible for more than one at the same time, which can meaningfully increase how much you save. We help you decide how to coordinate contributions across all of them.
Should I choose Fidelity or TIAA for my university retirement plan?
There is no universal answer, because the better recordkeeper depends on the funds you hold, the features you use, and how each fits your broader plan. We review your specific options inside each provider, including how TIAA's annuity and traditional accounts compare with Fidelity's fund lineup, and recommend an approach based on your goals rather than a default choice.
Which ASRS pension payout option should I take?
Your payout choice affects your monthly income, what continues to your spouse, and how your pension coordinates with Social Security and your other accounts. Because the decision is generally permanent, it deserves careful modeling before you elect. During a retirement plan review, we compare the options side by side so you understand the lifetime trade-offs of each.
Should I contribute to a Roth 403(b) or a pre-tax 403(b)?
It depends on your current tax bracket versus the bracket you expect in retirement, along with your broader tax picture. Roth contributions are made after tax and grow tax-free, while pre-tax contributions lower your taxable income today. Many faculty benefit from a mix. We model both so the choice fits your long-term tax strategy, not just this year's return.
What is RASL and how does it work?
RASL, or Retired and Separated Leave, allows eligible Arizona university employees to receive payment for certain accrued leave at separation or retirement. How and when you take it can have tax and timing implications worth planning for. We help you factor RASL into your overall transition-to-retirement income strategy.
Do you only work with university faculty and staff?
University faculty, staff, and their families are a core focus, and four decades of working with university benefit systems is where our specialized knowledge comes from. We also serve individuals and families more broadly. The common thread is comprehensive, fiduciary financial planning tailored to your situation.
How do I get started?
Start with a no-obligation conversation. We'll help you understand where you stand today and what your next move should be. You can schedule a complimentary retirement plan review online or call our Tucson office at (520) 326-8950.
Statistics are sourced from third-party research as cited and are provided for general educational purposes only. They are not a guarantee of future results and do not reflect the experience of any specific client. Working with a financial advisor does not ensure favorable investment outcomes. This material is not intended as tax or legal advice; please consult a qualified professional regarding your individual situation.
*Sources: First Citizens, 2025 Beyond Wealth Report; Prudential, 2025 Global Retirement Pulse Survey; Financial Planning Association Journal, 2025.