Your chance to change from Tier 1 to Tier 2 of the basic retirement plan is on the horizon.
Once a year employees are allowed to move from Tier 1 to Tier 2 contributions.
Bigger returns
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, in Tier 1 employees put in 3.5 percent and the university matches with 6.5 percent.
Form sent through the mail
Employees enrolled in Tier 1 of the basic retirement plan should have recently received an e-mail from the UNMC Benefits Office that included the form required to make the change.
If you would like to move to Tier 2, fill out the form and return it to the Benefits Office by Thursday, May 31 at 4:30 p.m.
Tier Election forms may be:
- Sent by campus mail to the UNMC Benefits Office, Campus Zip 5470
- Faxed to (402) 559-3866; or
- E-mailed to jwatkins@unmc.edu.
Those electing to move to Tier 2 will see the change effective July 1.
Check your status
To confirm your current level of participation, visit Firefly, Employee Self Service, and under Benefits, click on Participation Overview. Toward the bottom of your list of benefits, you will see either Tier 1 or Tier 2 Retirement.
Visit www.nebraska.edu/benefits if you would like more information about the Tier Elections or have other benefits-related questions.