- Retiring Employees Checklist (What to do prior to retirement)
- Retirees Benefits
- Faculty Emeritus Benefits
- Social Security Administration (Apply for Retirement Benefits)
- UND Retiree Insurance Rates
Plan Document and Information
- Salary Reduction Agreement Form
- Supplemental Online Enrollment - Instructions
- TIAA Online-Enrollment - Enrollment and Information
- Supplemental Retirement Vendors
- Universal Availability Form
Plan Documents and Information
- TIAA Summary Plan Document 403(b)
- TIAA Summary Plan Document 457(b)
- TIAA Individual Counseling Sessions
- Supplemental Contribution Limits
- TIAA 403(b) Roth
- IRS Limits
- NDUS 403(b) Salary Reduction Agreement - For CTS Employees only
The University of North Dakota has two retirement programs, NDPERS and TIAA. The retirement program an employee participates in depends on the position. Employees eligible for NDPERS are classified staff. Employees eligible for TIAA are faculty and administrative staff.
NDPERS - North Dakota Public Employees Retirement System
TIAA - Teachers Insurance and Annuity Association
To be vested means you are eligible to receive a monthly benefit from the retirement system you participate in.
NDPERS - Vested after three years of service.
TIAA - Vested immediately upon employment
Retirement Account Contributions
NDPERS - A total of 15.26% is contributed to NDPERS
4.0% Employee Contribution paid by UND
3.0% Employee Contribution paid by Employee
7.12% Institution Matching
1.14% Institution for prefunding of health insurance.
TIAA - Contributions for TIAA vary according to rank and years of service.
Employee % Employer %
0-2 years 3.5 7.5
3-10 years 4.5 12.5
After 10 years 5.0 13.0
Full and Associate Professors start at the 3-10 year rate.
Credit from Previous Position
NDPERS - If you have worked for another ND State Agency and have not taken a refund of your retirement money you should notify UND and your previous agency and a transfer form will be completed for you.
TIAA - Please let the Payroll Office know if you have participated in TIAA at another institution and have not withdrawn your contributions. Include this information on the NDPERS, NDTFFR, TIAA Previous Participation form. Once the information has been verified, the contributions will be credited at the appropriate rate.
Additional Contributions to Retirement
Any employee of the University of North Dakota can contribute to an SRA through TIAA. An SRA is a Supplemental Retirement Annuity, enrollment information is available under Forms on the HR and Payroll Services Website. There is also a list of other companies to tax defer payments through payroll available at the Payroll Office.
Advantages of Tax Deferring
Tax deferring is a retirement savings plan. Taxes are not paid on the amount of money withheld for your tax sheltered annuity. This reduces your taxable gross for the year. When you receive this money as income at retirement you may be in a lower tax bracket.
Changes to Tax Deferring
There is no limit to the number of changes you can make. The employee is responsible for keeping track of the amount of tax sheltering done in a year, so that they do not go over the maximum allowable by IRS guidelines. Contact the retirement specialist at the Payroll Office to find out the maximum allowable for each calendar year.
There is a brief summary of each account available during the TIAA online enrollment process. You may contact TIAA at 1.800.842.2776 or use their web site at www.tiaa.org.
The allocation can be changed by calling TIAA 1.800-.842-2252 or online at www.tiaa.org.
Retirement after UND
NDPERS - You may leave your money in for later withdrawal. - You may take a refund of the employee portion of contributions. This would be subject to 20% federal income tax before you receive the money. There is a 10% IRS penalty for early withdrawal if you are younger than 59 1/2 years old, this is assessed when you do your taxes for the year you received the refund.
You may take a retirement benefit if you meet the criteria for a benefit:
- Have at least three years of service and be at least 55 years old. Payment is reduced for every month under age 65 of the retiree. If you began employment after January 1, 2016, you must be at least 60 years old to take a retirement benefit.
- Qualify for the Rule of 85. (Years of service and age add up to 85 or more) If you began employment after January 1, 2016 it is the Rule of 90.
- Be 65 years of age or older
TIAA – You may take a lump sum refund of your CREF accounts at termination or leave it for later withdrawal. An employee may take a monthly benefit from TIAA at age 55 if retired.