(EDITOR’S NOTE: The following was sent by UNMC Employee Benefits.)
UNMC employees who wish to change from Tier 1 to Tier 2 of the basic retirement plan have until May 29 to submit the needed forms.
Participants in Tier 1 of the basic retirement plan (401a) are being sent a notice regarding the opportunity to change from Tier 1 to Tier 2 of the retirement plan effective July 1.
Attached to that notice is a blue Retirement Plan Contribution/Allocation Election Form for Basic Contributions.
That completed form must be received in the UNMC Benefits Office, campus zip 5470, no later than May 29.
Forms received after May 29 will be returned to the employee and they will be unable to make the change until July of 2010.
By going to Tier 2, employees contribute 5.5 percent of their gross pay (excluding NU Credits) and the university matches with 8 percent. Currently employees put in 3.5 percent and the university matches with 6.5 percent.
If needed, employees may go to www.nebraska.edu/benefits, click on “Forms” and then go to the “Retirement Plan” section to obtain another “Contribution/Allocation Election Form.”
To check your current retirement plan participation, go to the Employee Self Service site though Firefly and, under “Benefits,” click on “Participation Overview.” Scroll down to the basic retirement plan information.
Call the UNMC Benefits Office at 559-4340 for more information.