When planning your retirement investment, it's important to understand the difference between plan options. The University of Nebraska offers three retirement plans. Generally, employees start with the 401(a) plan and can then layer supplemental and deferred compensation plans in addition to the 401(a).
Basic Retirement Plan: 401(a)
The University of Nebraska provides a retirement plan for the purpose of accumulating lifetime retirement income through participation in the Basic Retirement Plan. Both employees and the university contribute to the Basic Retirement Plan based on a percentage of their salary. Employees may choose between two levels of participation.
Supplemental Retirement Plan: 403(b)
Employees may participate in the Supplemental Retirement Plan, which establishes individual annuity and/or custodial accounts to supplement Basic Retirement Plan contributions. Participation is voluntary and 100% employee-funded.
Deferred Compensation Retirement Plan: 457(b)
Employees are eligible to participate in the 457(b) Deferred Compensation Plan as long as they have “elected to defer” the maximum 402(g) amount allowable to the university’s Supplemental Retirement Plan 403(b). Participation is voluntary and 100% employee-funded.
Connect with a Retirement Advisor
After reviewing the University's plan options, the next step is meeting with a retirement advisor to put together a comprehensive plan. Click the links below for more information on setting up a meeting with one of our retirement partners.