Medical Residents & Postdoctoral Fellows Plan
Medical Residents and Postdoctoral employees who are hired on a contract of at least 50% FTE, are provided with a mandatory defined contribution 403(b) retirement plan commencing on their date of hire.
Under the terms of this retirement plan, employees must contribute 6.2% of their gross salary to the Plan. The employee contributions made to the Plan are before tax contributions. The employer also makes a matching 6.2% contribution.
Both the employee and the employer contributions are invested, at the direction of each participant, into a mandatory 403(b) account. The employee selects the funding vehicles for investment of their retirement contributions from their retirement sponsor. The plan provides for immediate vesting.
Effective January 1, 2014, the fund sponsor for the Medical Residents and Postdoctoral Fellows Retirement Plan is TIAA. This fund sponsor offers you a number of investment choices. You will determine how contributions to your account are invested.
NSHE's mandatory retirement plan for medical residents and post-doctoral fellows is administered by the Teachers Insurance and Annuity Association of America (TIAA):