The University of Nebraska Medical Center (UNMC) will host a series of individual retirement meetings on its Omaha campus, beginning in April, to provide employees with personalized guidance on their retirement accounts. The meetings will be conducted by representatives from TIAA, a financial services organization.
Employees can schedule one-on-one counseling sessions by calling TIAA’s advice service at 1-800-732-8353. TIAA representatives will be available on the UNMC campus on April 16, May 12, and June 25, according to UNMC Newsroom.
The University of Nebraska offers employees several retirement plan options, including the Basic Retirement 401(a) Plan, the Supplemental Retirement 403(b) Plan, and the Deferred Compensation Retirement Plan 457(b), all managed through TIAA. The Basic Retirement 401(a) plan features two tiers of contribution, with employees able to contribute 3.5% or 5.5% of their salary, matched by the university with 6.5% or 8.0% respectively. New employees are automatically enrolled in Tier 1.
Eligibility for the Basic Retirement 401(a) plan is dependent on age, employment status, and years of service. Mandatory participation begins at age 30, with a requirement of two years of service in a regular budgeted position, and at least a 0.5 full-time equivalency (FTE). Voluntary participation is available for those aged 26-29 who meet the same employment criteria. Employees with qualifying service from prior employers may also be eligible for enrollment.
Participation in the 401(a) plan is effective either February 1 or September 1, coinciding with the fulfillment of eligibility requirements.
