Retirement:
Your earnings from your job with the State of Nevada are not covered under Social Security. When you retire, or if you become disabled, you may receive a pension based on earnings from this job. If you do, and you are also entitled to a benefit from Social Security based on either your own work or the work of your husband or wife, or former husband or wife, your pension may affect the amount of the Social Security benefit you receive. Your Medicare benefits, however, will not be affected.
Classified employees are mandated to participate in the Public Employees’ Retirement System of Nevada (PERS). An employee must be employed at 53% FTE or greater to participate in this plan. PERS of Nevada is a tax-qualified defined benefit plan and offers employees two choices when making their contributions to PERS. The combined employee and employer contribution to this plan is approximately 20%.
New Faculty are mandated to participate in the NSHE Retirement Plan Alternatives (RPA) Plan (if they have an active account with PERS, they must participate in PERS). The provisions of the RPA plan is a 401(a) defined contribution plan. Plan contributions are invested, at the direction of each participant in the funding vehicles available to participants by the approved fund sponsors. The combined employee and employer contribution to this plan is 21%.
There are two additional retirement plans that are voluntary available to UNR Faculty and Staff. The voluntary retirement plans offer our employees the ability to voluntarily save for retirement on a before-tax basis through:
A Tax Sheltered Annuity (TSA) which is also called a 403(b) plan
A Deferred Compensation Plan also called a 457 plan