NSU Retirement Plans
NSU is committed to offering a retirement plan that helps you plan for your retirement while building long-term financial security.
Start saving for retirement today. Upon hire, eligible employees can elect to contribute to the Nova Southeastern University 401(k) Plan up to the IRS limit.
When Am I Eligible to Start my Contributions?
Eligibility for non-matched contributions
If you are an eligible employee who is 21 years of age or older and working 19.2 hours or more per week, you can contribute to the NSU 401(k) Plan on a non-matched basis on the first of the month following your date of hire.
Eligibility for the NSU Match
If you are an eligible employee who is 21 years of age or older and working 19.2 hours or more per week, you can receive the NSU 401(k) Match on the first of the month following your one-year anniversary.
Resources for New Hires in 2022
CLICK HERE to review the TIAA/NOVA 401k flyer for new hires
Informational documents
Want to have an individual meeting with a TIAA agent?
See schedule and meeting link here
Retirement Providers
Once you are eligible, NSU will match your contributions up to the first 4%! You can contribute more than 4% to your retirement savings account at NSU, but those contributions will not be matched.
| YOUR CONTRIBUTION | NSU BASIC MATCH* | NSU SAFE HARBOR MATCH | NSU ADDITIONAL MATCH* | TOTAL NSU MATCH | TOTAL RETIREMENT SAVINGS |
|---|---|---|---|---|---|
| 0 | 2% | 0 | 0 | 2% | 2% |
| 1% | 2% | 1% | 1% | 4% | 5% |
| 2% | 2% | 2% | 2% | 6% | 8% |
| 3% | 2% | 3% | 3% | 8% | 11% |
| 4% | 2% | 4% | 4% | 10% | 14% |
The NSU Basic Match and NSU Additional Match are vested after 3 years of employment. Your contributions and the NSU Safe Harbor Match are vested immediately (subject to eligibility and participation).
Contributions to the NSU Retirement Savings Plan are not limited to the percentage of your salary that NSU matches.
You can contribute almost any percentage of your gross bi-weekly earnings you are comfortable with, up to the limits set by the IRS each year. Annual limits are generally set by the IRS each year in October for the next calendar year and are listed below for the calendar year 2021, and year 2022, effective January 1st 2022 to December 31st 2022.
2021
| 401(K) PLAN CONTRIBUTION LIMITS | 2021 CALENDAR YEAR |
|---|---|
| Employee Limit (under age 50) | $19,500 |
| Employee Limit (age 50 and up) | $26,000 |
| Employee 457(b) Limit | $19,500 |
| NSU Employer Limit | $29,000 |
2022
| 401(K) PLAN CONTRIBUTION LIMITS | 2022 CALENDAR YEAR |
|---|---|
| Employee Limit (under age 50) | $20,500 |
| Employee Limit (age 50 and up) | $27,000 |
| Employee 457(b) Limit | $20,500 |
| NSU Employer Limit | $30,500 |