Faculty Retirement Plan Alternative (RPA) guide
Under the RPA, once you retire, you determine when your retirement payments begin. Within the parameters of the Plan, when you retire or terminate your employment with the NSHE, you may maintain your accounts and/or elect with the fund sponsor to begin receipt of benefits based on the terms of the RPA plan. You are immediately 100% vested in your retirement accounts.
Although income usually begins at retirement, you may elect to begin to receive your retirement income at any time after termination of employment. You may also elect to receive income while you are actively employed, if you have reached the age of 65.
Retirement benefits must normally begin no later than April 1 of the calendar year following the year in which you attain age 70 1/2.
You will need to make decisions regarding the withdrawal of your retirement funds. These are important decisions that impact the level of income you will receive, the taxability of that income, and how long that income will last. For detailed information on the taxability, contact your investment carrier(s); a professional financial planner or tax advisor.
- You are responsible for selecting your retirement payment option. Contact your investment carrier(s) for distribution forms.
- You do not have to annuitize your accumulations even if your funds are invested with NSHE's annuity investment carrier TIAA.
- To obtain more specific information regarding your choices, please contact your investment carrier(s).
- You must be retired on our payroll system in order to take a distribution from your retirement plan. All distribution requests will require a Plan Administrator signature which can be obtained by contacting the Benefits Office at (775) 784-6082.