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 Sunday, 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 Wednesday, July 1. The opportunity for employees to change from Tier 1 to Tier 2 will not be available again until July 1, 2021.
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 Sunday, 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.
About the University of Nebraska at Omaha
Located in one of America’s best cities to live, work and learn, the University of Nebraska at Omaha (UNO) is Nebraska’s premier metropolitan university. With more than 15,000 students enrolled in 200-plus programs of study, UNO is recognized nationally for its online education, graduate education, military friendliness and community engagement efforts. Founded in 1908, UNO has served learners of all backgrounds for more than 100 years and is dedicated to another century of excellence both in the classroom and in the community.