The benefits office has a new electronic format for retirement forms. The Record of Prior Service, Basic Retirement Allocation Change, Supplemental Tax-Sheltered Annuity and Deferred Compensation Retirement Forms are now available online. All four forms can be accessed by logging into Firefly and clicking on the Employee Self Service Tile.
The Record of Prior Service form allows employees who have previously worked at an educational institution to submit those dates of service for consideration to count towards the two-year requirement for participation in the 401(a) Basic Retirement plan. The 401(a) Basic retirement plan is the university’s matching contribution plan.
The Basic Retirement Allocation Change form allows employees to update which retirement company they are utilizing for the 401(a). Employees may split their contribution between the retirement companies.
The Supplemental Tax Sheltered Annuity is the 403(b) plan. This account allows employees to contribute to their retirement on a pre-tax and/or ROTH basis. It also provides the flexibility for an employee to start, stop, increase or decrease their elections throughout the calendar year. The IRS maximum for the 403(b) in 2022 is $20,500 for anyone under the age of 50 and $27,000 for anyone 50 and over.
The Deferred Compensation Retirement is the 457(b) plan. Employees who would like to participate in this account must be on track to maximize a 403(b) by the end of the calendar year. This account has pre-tax contributions. Like the 403(b), it provides the flexibility for an employee to adjust their elections throughout the calendar year. The IRS maximum for the 457(b) in 2022 is $20,500 for anyone under the age of 50 and $27,000 for anyone 50 and over.
Step-by-step directions on how to use each form can be found here:
Basic Retirement Allocation Change
Supplemental Tax-Sheltered Annuity
Deferred Compensation Retirement Forms
Employees who decide to enroll in a new retirement plan or change their contributions between the university’s retirement vendors (Fidelity and TIAA) must have an account set up. To sign up for an account please visit Fidelity or TIAA and click the Enroll Today/Ready to Enroll.
With questions about the forms, contact the UNMC Benefits Office at 402-559-4340 or benefits@unmc.edu.