The money you contribute to the Retirement Plan belongs to you and is immediately vested. When you leave the University, you take the amount you have accumulated with you. You will continue to earn interest and applicable dividends on such funds until you begin receiving annuity income at retirement or withdraw funds at an earlier date.

Yes, (effective January 1, 1999) you may borrow against RA, GRA, GSRA and SRA and both Basic (matched) and Supplemental (unmatched) Fidelity Contributions.

Participation in the Retirement Plan requires the completion of the online enrollment process at hire and during Open Enrollment and afterward the submittal of a completed Retirement Plan Enrollment and Contribution Change Form as well the eatablishment of an investment company account which may be done online. Contributions will not commence until the enrollment process is completed.

All State employees have to contribute to a retirement fund. Because UNM is an educational institution all employees are required by law to contribute to the Educational Retirement Board.

What is the retirement program I will participate in? The University of North Dakota has two retirement programs, NDPERS and TIAA-CREF. The retirement program an employee participates in depends on the position. Employees eligible for NDPERS are classified staff. Employees eligible for TIAA-CREF are faculty and administrative staff.

Vested members under age 55. Vested members have earned the right to a pension from the Plan. If you are vested and leave the Plan before age 55, you may take a deferred pension or transfer the commuted value of your pension to another retirement arrangement such as a locked-in retirement account (a "locked-in RRSP") or another employer's pension plan. Vested members, age 55 or older.

Investors prosper greatly under this plan, since corporations face lower operating costs and individuals have more money to save and invest. The reform significantly enhances the retirement savings and/or retirement spending power of most Americans. The purchase of stocks is considered a purchase for investment purposes and not personal consumption so they are purchased tax free. The service fees charged by the broker, however, are personal consumption and therefore subject to tax.

There is no specific policy addressing this issue. However, unused sick leave is not paid out upon termination or retirement, nor is it used to calculate length of service or monthly retirement dollar amounts. return to top

Your current employer will provide you with a form that will allow you to roll over your retirement plan into a North Shore Bank IRA. Because Tax penalties can be assessed if not handled properly, we recommend that you check with North Shore Bank or your tax advisor before initiating this type of transaction. Learn More.

Yes. Current tax law (EGGTRA tax reform legislation passed in 2001 and effective beginning January 1, 2002), permits an individual under Portability provisions to transfer funds from a 401(k) plan offered by a for-profit corporation to a 403(b) plan such as the plan offered by Northwestern University and vice versa. Individuals wishing to do so should contact their investment companies.

You have a number of options to consider. The Rollover section can help you sort out your choices so you can make an informed decision.

On departure from the University, Employee Accounts, Affiliate Accounts, and Student Accounts are covered by the User Account Deactivation/Expiration Policy. This policy covers the aging of Personal Email Aliases, and the Deactivation of Personal Email Aliases after the ageing process. It also describes what happens to user files once the account has been deactivated.

Yes. You may rollover funds from a qualified retirement plan into your 401(k) Plan. You may download the 'Rollover Statement' from this website or you may contact the Fund Office.

Yes, at separation of University employment, you may continue your Long Term Care insurance. The sponsoring insurance company, CNA, will bill you directly on a quarterly basis. Contributions will remain the same as you were paying while actively employed.

The funds are received from Sallie Mae by electronic transfer to the University. The university then has to distribute those funds into each student's account.