Retirement Savings
Whether you're a seasoned investor or a retirement savings rookie, NSU has you covered with access to best-in-class retirement vendors, TIAA and AIG (VALIC).
Frequently Asked Questions about Retirement Savings
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.
How does the NSU Match Work?
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).
How much does NSU match?You can save as much as you are comfortable contributing each pay period up to the IRS annual limit.
Use the bi-weekly contribution calculator to get an estimate of the retirement savings contribution percentage to use when making your elections in the My Retirement Manager Portal.
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 beginning January 1, 2022, and ending December 31, 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 |
Retirement savings contributions are made using the My Retirement Manager Portal. Getting started is easy and only takes a few minutes to setup. Once you are eligible, you can make new elections and change your contributions as often as you require.
To register for access and start on the path toward retirement readiness, visit the My Retirement Manager Portal Online or click on the image below to be directed to the portal.
If you need help setting up your account, feel free to download our Interactive PowerPoint Tutorial.
Once you have made your elections in the My Retirement Manager portal at www.myretirementmanager.com, you will need to create an account with each retirement plan vendor you choose to invest with. Creating an online account with TIAA is fast and easy! To get started, visit TIAA online at www.tiaa.org/nsu and register for access.
Register online for one-on-one advice from TIAA on NSU's Fort Lauderdale Campus at https://www.tiaa.org/public/tcm/nsu/home or by calling 866-549-1238, Monday through Friday from 9:00 am to 8:00 pm (EST). Space is limited, so please RSVP as soon as you can.
Advice is also available over the phone by calling 888-211-3868, online using TIAA's online scheduling form or through TIAA's Customer Support Center available by calling 800-842-2252. Customer Support is available Monday through Friday from 8:00 am to 10:00 pm (EST) and Saturday from 9:00 am to 6:00 pm (EST).
Additional resources from TIAA
Once you have made your elections in the My Retirement Manager portal at www.myretirementmanager.com, you will need to create an account with each retirement plan vendor you choose to invest with. To create an account with VALIC, visit them online at www.valic.com/nova and register for access.
You can contact an advisor for general assistance by calling 800-448-2542, or contact a VALIC representative in your local area to schedule an individual advice session.
| Valic Representative | Location | Contact Number |
|---|---|---|
| Nicholas R. Brown | South Florida | 850-322-8240 |
| Steve Proffitt | South Florida | 954-684-6306 |
| Paul Fibbe | Jacksonville | 904-448-7200 or 904-568-5360 |
| Dan Stamey | Tampa | 813-300-7983 |
| Kelly J. Torresin | Orlando | 407-212-5003 |
Additional resources from VALIC
Summary of Material Modifications No. One - NSU 401(k) Plan
Summary of Material Modifications No. Two - NSU 401(k) Plan
Summary of Material Modifications No. Three - NSU 401(k) Plan
Summary of Material Modifications No. Two - NSU Grande Oaks 401(k) Plan
Summary of Material Modifications No. Three - NSU Puerto Rico 401(k) Plan
TIAA-CREF Share Class Change (Effective 4/24/2015)
Transition Guide for Investment Menu Changes
TIAA-CREF Supplemental Fee Disclosure