NSHE Retirement Plans |
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Mandatory Retirement Plans
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Supplemental Retirement Plans
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Social Security | ||||
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Phase In Retirement |
Faculty/Professional Retirement Plan Alternative
The Nevada System of Higher Education (NSHE) Board of Regents established the NSHE Defined Contribution Plan in 1970 as an alternative to PERS of Nevada, 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 by the fund sponsors.
The participant contributes 10.5% of his/her gross salary and the institution contributes an additional 10.5%. The plan provides for immediate vesting. The account to which the institution contributes does allow cashability upon termination and reaching age 55, while the employee 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 If you terminate within the first five years of employment, both account balances may be withdrawn.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 NSHE retirement program unless they are members of PERS of Nevada.
Contributions to any plan sponsor 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.
The NSHE offers three retirement plan alternatives: TIAA-CREF, AIG RETIREMENT, and Fidelity Investments.
AIG RETIREMENT or contact a representative 1-800-44-VALIC
Fidelity Investments or contact a representative at 1-800-343-0860
TIAA-CREF or contact a representative at 1-800-842-2776