Retirement Information
The University of North Dakota has two retirement programs. Participation in a retirement plan is mandatory. The retirement program an employee participates in depends on the position.
- NDPERS (North Dakota Public Employees Retirement System) is for staff.
- TIAA (Teachers Insurance and Annuity Association) is for faculty and professional staff.
Employees on NDPERS hired on or after 1/1/2025 are in the Defined Contribution 2025 plan.
Defined Contribution Plan
A retirement plan where an employee and/or employer contribute to an employee’s individual account. The amount of retirement benefit at retirement is determined by the amount of dollars contributed and the performance of the funds in the account.
The university will contribute 9.26 % of the employee’s eligible salary to the DC 2025 plan. There is an opportunity to receive matching funds of up to 3% of salary, if the employee makes an additional contribution. It is a lifetime, irrevocable election to choose if you want to elect additional contributions and the amount you choose to contribute. This election must be made within the first 30 days of employment.
If an employee chooses:
| Employee | Employer | Employer Match | Total Contributions |
|---|---|---|---|
| 0% | 9.26% | 0% | 9.26% |
| 1.0% | 9.26% | 1.0% | 11.26% |
| 2.0% | 9.26% | 2.0% | 13.26% |
| 3.0% | 9.26% | 3.0% | 15.26% |
Defined Benefit Plan
A retirement plan where a formula is used to determine a specific monthly payment at retirement. The formula considers final average salary and years of service. The formula is:
- Final Average Monthly Salary X the Multiplier X years of service.
Plan Tiers
The NDPERS Defined Benefit Plan has three tiers.
The tiers determine:
- The normal retirement date after meeting the Rule of 85 or 90
- The multiplier used in calculating your monthly retirement benefit
- Whether or not you have Retiree Health Insurance Credit (RHIC)
- The early retirement reduction percentage
Tier 3
Enrollment January 1, 2020, through December 31, 2024
| Contributions | Normal Retirement Age | Early Retirement Age | Multiplier |
|---|---|---|---|
| 3% *EE | Rule of 90 with Minimum | Age 55 | 1.75% |
| 4% EE paid by UND | Age of 60 | 8% reduction | |
| 9.26% *ER | or Age 65 | ||
| No RHIC** |
Tier 2
Enrollment January 1, 2016, through December 31, 2019
| Contributions | Normal Retirement Age | Early Retirement Age | Multiplier |
|---|---|---|---|
| 3% *EE | Rule of 90 with Minimum | Age 55 | 2.0% |
| 4% EE paid by UND | Age of 60 | 8% Reduction | |
| 8.12% *ER | or Age 65 | ||
| 1.14% RHIC |
Tier 1
Enrollment prior to January 1, 2016
| Contributions | Normal Retirement Age | Early Retirement Age | Multiplier |
|---|---|---|---|
| 3% *EE | Rule of 85 or Age 65 | Age 55 | 2% |
| 4% EE paid by UND | 6% reduction | ||
| 8.12% *ER | |||
| 1.14% RHIC |
*EE = Employee
*ER = Employer
** RHIC = Retiree Health Insurance Credit
NDPERS
Please refer to the NDPERS website homepage for additional information.
TIAA is a defined contribution plan With TIAA you are vested immediately.
TIAA Contributions
Contributions are based on years of service. All employee contributions are pretax.
| Employee % | Employer % | |
| 0-2 Years | 3.5% | 7.5% |
| 2-10 Years | 4.5% | 12.5% |
| After 10 Years | 5.0% | 13.0% |
Associate and Full Professor starts at the 2-10 year level. Years of service credit is given for previous participation at other institutions where you contributed to TIAA as long as the funds have not been withdrawn. There is a Previous Participation form in your new employee forms to complete it is then verified Human Resources.
Allocating Contributions
There is a brief summary of each account available during the TIAA online enrollment process.
Premium Allocation
The total amount of TIAA that is sent in on your behalf earns interest according to the allocation choices you make.
- You can allocate a certain amount to different funds or choose a Lifecycle Fund. Lifecycle Funds are listed in 5 year increments. If you choose a Lifecycle Fund close to your date of retirement, the investment will be more aggressive the farther that date is away. As you get closer to that date, the investments become more conservative.
- Your allocations can be changed at anytime.
- The transfer of accumulated funds from TIAA to CREF is limited. TIAA is a guaranteed fund and once it is in that fund it stays there until retirement. The accumulations in the CREF accounts can be moved from one CREF fund to another.
TIAA Enrollment
If at any point you need assistance in the enrollment process, please call TIAA at 1.800.842.2273 to guide you through the process.
Prior-To Online Enrollment
To review your investment options prior to enrolling, go to www.tiaa.org/ndus
- At this point you will click on Explore. The main plan is the 401(a) DC Plan. The 403(b) and 457(b) are both supplemental plans that can be added now or at a later date. Once you have reviewed your investment options you will be ready to enroll.
- Prior to your online enrollment you will want to have the following information available:
- Your investment choices
- Your own personal information
- Beneficiary’s
- Social Security number (optional)
- Date of Birth
- Address
Enroll Online
- Go to www.tiaa.org/ndus
- Click on Ready to Enroll and choose the 401(a) DC Plan
- Click on Choose Plan button and follow the prompts from there
- The access code should populate since you have gone in on the NDUS site, if for some reason it did not, the code is 150093.
TIAA Credit from Previous Position
If you have participated in TIAA at another institution and have not withdrawn your contributions you may be able to begin contributing at a higher rate. Please provide this information on the NDPERS, NDTFFR, TIAA Previous Participation Verification. Please follow the instructions on the form to receive credit for the prior service.
TIAA Retirement After UND
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.
TIAA Assistance
Counseling Sessions
Free individual counseling sessions are offered with a TIAA representative.
Webinars
TIAA sponsors live webinars that cover topics of interest to all benefited employees. Topics include: the power of saving, estate planning, understanding Medicare and many more.
TIAA Plan Documents
The NDUS website hosts the TIAA Plan Documents, which explain the mandatory 401(a) plan for those who have TIAA as their retirement. The supplemental 403(b) and 457(b) Plan Documents are also included.
Supplemental Retirement
Additional Contributions to Retirement
Any employee of the University of North Dakota can contribute to a 403(b) or 457(b) Supplemental Retirement Annuity. Supplemental retirement plans are elective employee contributions to a retirement savings plan. The main difference between the 403(b) and the 457(b) is the funds in the 403(b) are available to you without penalty at age 59 ½ whether you are working or not. With the 457(b) the funds are not available to you until you have terminated your employment at UND. Both plans are pretax, however the 403(b) does offer a Roth option. There are no matching funds by the employer to any supplemental plans.
Supplemental Retirement Contribution Limits
The annual maximum IRS limit for 2025 is $23,500.
If you will be age 50 or older in 2025 the limit is $31,000.
If you turn age 60, 61, 62, or 63 in 2025 the limit is $34,750
Turning age 64 or older the limit is $31,000
TIAA Supplemental Retirement Enrollment
Prior-To Online Enrollment
To review your investment options prior to enrolling, go to www.tiaa.org/ndus
- At this point you will click on the Explore tab. The 403(b) and 457(b) are both supplemental plans that can be started at any time. Once you have reviewed your investment options you will be ready to enroll. The 401(a) DC Plan is not a supplemental retirement plan.
- Prior to your online enrollment you will want to have the following information available:
- Social Security number (optional)
- Date of Birth
- Address
- Your investment choices
- Your own personal information
- Beneficiary’s
Enroll Online
- Go to tiaa.org/ndus
- Click on the Ready to Enroll tab and choose the 403(b) or 457(b) plan
- Click on the Choose Plan button and follow the prompts from there
- The access code should populate since you have gone in on the NDUS site, if for some reason it did not, the code for the 403(b) is 150094 and 150099 for the 457(b)
If at any point you need assistance in the enrollment process, please call TIAA at 1.800 842-2273 to guide you through the process. Once you have completed the enrollment process you can complete the Salary Reduction Agreement to indicate the amount you would like taken from each paycheck. This can be sent to HR/Payroll or use the DocuSign version.
UND Human Resources / Payroll
264 Centennial Dr Stop 7127
Grand Forks, ND 58201
[email protected]
UND Salary Reduction Agreement
DOCUSIGN UND SALARY REDUCTION AGREEMENT
Free individual counseling sessions are offered with a TIAA representative for supplemental retirement savings plans.
Core Technology Services
CTS employees can change their TIAA contributions.