2022 Retirement Plan Enhancements

A committee of benefits and finance experts from across the University of Nebraska System has spent the past eight months carefully reviewing the university’s retirement program to identify improvements to help our plan participants achieve their retirement goals. 

With support from expert finance faculty at UNL, UNO and UNK, the committee is recommending several changes to modernize and simplify the University of Nebraska’s retirement program. The changes, in line with best practices being adopted by universities around the country, are planned to be implemented in fall 2022. They include a more streamlined, lower-cost investment menu that will allocate your retirement investments based on the year when you’ll turn 65, along with an expanded self-directed brokerage account for more experienced investors who want additional options.

What’s not changing: The university’s contribution amounts to your retirement plan will stay the same, and funds will continue to be fully vested right away.

No action by plan participants is necessary at this time, and for those who prefer the streamlined target-date retirement funds – which we expect to be the vast majority of plan participants – your retirement funds will be transitioned to the new, streamlined menu automatically, meaning most plan participants won’t need to take action at any point as part of these changes. For those who want to customize their investments, further communication will be sent this fall on how you’ll be able to do so.

In the meantime, we invite you to read more about the coming enhancements, and join our finance and benefits at an upcoming Zoom forum. More information is available below.