Increase 401(a) Retirement Contributions

Each year, benefits-eligible employees have the opportunity to discover the opportunities of expanded, long-term investment in their university-sponsored retirement accounts through increasing their personal contributions and university matching funds.

Any employee currently enrolled in "Tier 1" of the University's Basic Retirement Plan will have through Monday, May 31, to upgrade to "Tier 2" status.

By moving to Tier 2, employees will increase their contributions from 3.5 percent of their gross income each pay period to 5.5 percent, and the University's matching contribution will increase from 6.5 percent to 8 percent.

NOTE: Once an employee moves to Tier 2 they cannot return to Tier 1 rates.

Those opting to change their retirement contribution status this year will see the changes take effect on Thursday, July 1. The opportunity for employees to change from Tier 1 to Tier 2 will not be available again until July 1, 2022.

To take advantage of this opportunity, employees will need to click the "Tier 2 Election" link in the "Employee Self Service" section of their Firefly account by Monday, May 31. Employees can access the "Employee Self Service" section under the "Benefits" tab.

Anyone with questions or in need of assistance can contact the UNO campus benefits office at 402.554.2465.

More information about the University’s Basic Retirement 401 (a) Plan can be found at nebraska.edu.