Participants in Tier 1 of the basic retirement plan 401(a) were recently sent an e-mail that now is their opportunity to move from Tier 1 of the Basic Retirement Plan 401(a) to Tier 2.
Attached to that e-mail was a Retirement Plan Contribution/Allocation Election Form.
The completed form to change from Tier 1 to Tier 2 effective July 1 must be received in the UNMC Benefits Office at campus zip 5470 no later than Friday (May 28).
Forms received after the stated deadline will be returned to the employee and they will be unable to make the change until July 2011.
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 UNMC matches with 6.5 percent.)
Employees can visit www.nebraska.edu/benefits (click on Forms and then go to the “Retirement Plan” section) to obtain another Contribution/Allocation Election Form if needed.
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.