UNLV Professional Retirement Plan Alternatives
The Nevada System of Higher Education (NSHE) Board of Regents established the NSHE Defined Contribution Retirement Plan in 1970; and restated the plan on January 1, 1999. The plan document sets forth the provisions of the IRS Code Section 401(a) defined contribution plan. Plan contributions are invested, at the direction of each participant, in one or more of the funding vehicles available to participants from the fund sponsors.
The participant contributes 10.5% of his/her gross salary, to the Plan in a 401(a) account, and the Institution contributes an additional 10.5% in a separate 401(a) account. The plan provides for immediate vesting. The 401(a) account that the institution contributes to does allow for cashability upon termination and reaching age 55, while the employee 401(a) account will be 100% cashable upon termination of employment (subject to IRS withdrawal limitations). If you terminate within the first five years of employment, both account balances may be withdrawn.
All permanent employees on an annual "A" or "B" contract who are employed at least 50% full time are eligible to participate in the University retirement program. Employees may open an account with any either TIAA CREF, AIG-VALIC, or Fidelity Investments. Contributions to any company chosen must be at least 25% of the total amount, and when combined with all other companies must equal 100%. You may change your allocation percentages among companies at any time.
TIAA CREF
- For additional information, contact TIAA CREF at 1-800-842-2776.
- VALIC
- For additional information, contact VALIC at (702) 796-0047.
- Fidelity Investments
- For additional information, contact Fidelity Investments at 1-800-343-0860.
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SOURCE DOCUMENT:
RPA PLAN GUIDE
