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Basic Retirement Plan – 401( a )

To participate: You must be at least age 26 and Have completed 2 years of service or Have completed 2 years of service at another educational institution (K-12, Univ., international). (Undergraduate student employment cannot be counted).

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Basic Retirement Plan – 401( a )

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  1. To participate: • You must be at least age 26 and • Have completed 2 years of service or • Have completed 2 years of service at another educational institution (K-12, Univ., international). • (Undergraduate student employment cannot be counted). • If you have worked in educational institutions before, please fill out the Prior Service form that was included in the packet of Benefits forms and info sent to you. Basic Retirement Plan – 401(a) www.nebraska.edu/benefits

  2. Basic Retirement Plan – 401(a) cont. The 401(a) is mandatory at age 30 (with 2 years of service) Investments are through TIAA-CREF and/or Fidelity TIAA-CREF and Fidelity reps are on campus twice a month to help you make decisions regarding investment choices and long-term retirement goals. To make an appointment, call TIAA-CREF at 1-402-548-3614 or Fidelity at 1-800-343-0860. www.nebraska.edu/benefits

  3. Basic Retirement Plan – 401(a) cont. • Your contributions are pre-tax • You may choose between: • Tier 1 3.5% -Employee 6.5% -Univ. Contribution • Tier 2 5.5% -Employee 8.0% -Univ. Contribution • Annual enrollment to move from Tier 1 to Tier 2 each July 1. • Once you are enrolled in Tier 2 you cannot change back to Tier 1. www.nebraska.edu/benefits

  4. Supplemental Retirement Plan – 403(b) If you are not eligible for the 401(a) Plan or if you want to make an additional contribution you can enroll in the 403(b) Plan. Your contributions are not matched by the University. Your contributions are pre-tax and will increase your retirement income. Both a pre-tax and a post-tax (Roth) option available. For more, you can add the 457(b) plan once you have maxed out your 403(b) plan. www.nebraska.edu/benefits

  5. TIAA-CREF and Fidelity Your 401(a) and/or 403(b) contributions can be invested in TIAA-CREF and/or Fidelity. Retirement Investment Advisors are on campus twice a month and available for free consultations, to contact them: TIAA-CREF - Jana Steigelman-Simon Call Robyn at 402-548-3614 to make an appointment. Fidelity - Jason Cronick Call 1-800-642-7131 to make an appointment. www.nebraska.edu/benefits

  6. enrollment To enroll, you must fill out a payroll deduction sheet, available at your Campus Benefits office (EAB 205) Enrollment for the 401(a) with TIAA-CREF and/or Fidelity is done online at: http://www.nebraska.edu/faculty-and-staff/benefits/retirement-plan-enrollment.html 403(b) enrollment with TIAA-CREF and/or Fidelity is done through the Campus Benefits office. Contact Tim Rochford at 402-554-2465 for more information about enrolling. www.nebraska.edu/benefits

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