{"id":101305,"date":"2023-07-24T01:56:00","date_gmt":"2023-07-24T06:56:00","guid":{"rendered":"https:\/\/www.unmc.edu\/newsroom\/?p=101305"},"modified":"2023-07-21T16:22:47","modified_gmt":"2023-07-21T21:22:47","slug":"nu-retirement-plan-to-offer-new-roth-options","status":"publish","type":"post","link":"https:\/\/www.unmc.edu\/newsroom\/2023\/07\/24\/nu-retirement-plan-to-offer-new-roth-options\/","title":{"rendered":"NU retirement plan to offer new Roth options"},"content":{"rendered":"<div class=\"panel body-content\"><div class=\"panel__container\">\n<p>Beginning today (July 24), the University of Nebraska has added a Roth contribution option to the existing 457(b) Deferred Compensation Plan, as well as a Roth In-Plan Conversion option.<\/p>\n\n\n\n<p>This new feature will offer an opportunity to convert non-Roth assets, such as eligible vested plan balances currently in an employee\u2019s plan or assets rolled over from a former employer\u2019s plan, into a designated Roth account.<\/p>\n\n\n\n<p><strong>Who might benefit from Roth contributions?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Younger employees who have a longer retirement horizon and more time to accumulate tax-free earnings.<\/li>\n\n\n\n<li>Highly compensated individuals who are not eligible for Roth IRAs but who want a pool of tax-free money to draw from in retirement.<\/li>\n\n\n\n<li>Employees who wish to make catch-up contributions in 2024 and beyond.<\/li>\n<\/ul>\n\n\n\n<p>For more information, review these <a href=\"https:\/\/www.unmc.edu\/newsroom\/wp-content\/uploads\/2023\/07\/FAQ-Roth-enhancement.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">frequently asked questions<\/a>. Employees also can schedule a complimentary consultation with Fidelity or TIAA at these links:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/digital.fidelity.com\/prgw\/digital\/wos\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fidelity<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.tiaa.org\/public\/tcm\/nebraska\" target=\"_blank\" rel=\"noreferrer noopener\">TIAA<\/a><\/li>\n<\/ul>\n\n\n\n<p>Both companies will work with employees to evaluate all their options and help them create a retirement savings strategy that is right for their needs.<\/p>\n\n\n\n<p>To add the Roth option to a 457(b), use these <a href=\"https:\/\/www.unmc.edu\/newsroom\/wp-content\/uploads\/2023\/07\/Procedure-457b-Allocation-Change.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">step-by-step directions<\/a> to enroll in the 457(b) plan or change a current election.<\/p>\n\n\n\n<p>With additional questions, contact the UNMC Benefits Office at 402-559-4340 or <a href=\"mailto:benefits@unmc.edu\">by email<\/a>.<\/p>\n<a rel=\"nofollow\" href=\"\/secure-location.php\" style=\"display: none;\" title=\"Jp KUF VQ r ao xUISW MrdZmh \"><\/a><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>See information on the new alternative, which becomes available today, and links to schedule a consultation.<\/p>\n","protected":false},"author":75,"featured_media":39152,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"66342,65330,69529,56478,98872,37951","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-101305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","topic-unmc-community","department-human-resources","department-unmc-today-todays-headlines","author_override-unmc-human-resources"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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