{"id":7579,"date":"2019-07-03T09:26:18","date_gmt":"2019-07-03T16:26:18","guid":{"rendered":"https:\/\/in.nau.edu\/human-resources\/?page_id=7579"},"modified":"2025-12-23T21:13:33","modified_gmt":"2025-12-23T21:13:33","slug":"supplemental-retirement-plans","status":"publish","type":"page","link":"https:\/\/in.nau.edu\/human-resources\/supplemental-retirement-plans\/","title":{"rendered":"Benefits &#8211; Supplemental Retirement Plans"},"content":{"rendered":"<h1><strong>Supplemental Retirement Plans<\/strong><\/h1>\n<p>Supplemental plans allow you to save extra money for retirement. NAU does not match your contributions.\u00a0 NAU offers two types of supplemental retirement plans:<\/p>\n<ul>\n<li><em>403b Tax-Deferred Annuity Plan through Arizona University System<\/em><\/li>\n<li><em>457 Deferred Compensation Plan through the State of Arizona<\/em><\/li>\n<\/ul>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<h2><strong>Eligibility<\/strong><\/h2>\n<p>All NAU employees are eligible to participate in both the 403(b) and the 457(b) plans.<\/p>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<div class='shortcode-column-container'><!-- shortcode-column -->\n<div class=\"shortcode-column shortcode-column--count-2\">\n    \n<h2><strong>Contributions<\/strong><\/h2>\n<p>Contributions to the 403(b) and 457(b) plans can be deducted on a pre-tax basis from your paycheck or on an after-tax basis or Roth 403(b). NAU does not match your contributions.<\/p>\n\n<\/div>\n<!-- shortcode-column -->\n<div class=\"shortcode-column shortcode-column--count-2\">\n    \n<p><img decoding=\"async\" class=\"alignnone wp-image-18715 size-square-image-large\" src=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2023\/07\/annie-spratt-hc7kZmrQPYU-unsplash-1-600x600.jpg\" alt=\"Cactus shaped piggy bank pho\" width=\"600\" height=\"600\" srcset=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2023\/07\/annie-spratt-hc7kZmrQPYU-unsplash-1-600x600.jpg 600w, https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2023\/07\/annie-spratt-hc7kZmrQPYU-unsplash-1-150x150.jpg 150w, https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2023\/07\/annie-spratt-hc7kZmrQPYU-unsplash-1-300x300.jpg 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/p>\n\n<\/div>\n<\/div>\n<p><strong>Pre-tax contributions <\/strong>are deducted from your pay before income taxes are taken out. This means that you may lower the amount of current income taxes withheld each period. Any earnings on your contributions are tax deferred until you withdraw them from your account.<\/p>\n<p><strong>Roth contributions <\/strong>are taken after taxes, as a result there are no current tax saving. <em>In the event of either retirement or termination, your contributions and earnings can be withdrawn tax free as long as it has been five tax years since your first Roth contribution, and you are at least 59\u00bd years old.<\/em><strong>\u00a0<\/strong><\/p>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<h2><strong>Contribution limits<\/strong><\/h2>\n<p>You can contribute up to the IRS annual maximum to <u>each<\/u> plan.<\/p>\n<ul>\n<li>2026, the contribution maximum is $24,500 for both plan types.<\/li>\n<li>If you are age 50 or older, you can contribute an additional $8,000 each calendar year for an annual maximum of $31,000.<\/li>\n<li>Some employees may also be eligible for an additional catch-up contribution amount. Contact your supplemental retirement plan vendor directly to determine if you are eligible.<\/li>\n<\/ul>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<h2><strong>Investments<\/strong><\/h2>\n<p>You direct the investments for the supplemental retirement plans.<\/p>\n<ul>\n<li>If you enroll in the <strong>403(b) plan<\/strong> you can invest your contributions with either Fidelity or TIAA.<\/li>\n<li>If you enroll in the <strong>457(b) plan<\/strong> your contributions are invested with Nationwide Retirement Solutions.<\/li>\n<\/ul>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<h2><strong>Loans<\/strong><\/h2>\n<p>Typically, you can borrow between $1,000 and $50,000 per plan. The amount you can borrow depends on your account balance available for loans.<strong>\u00a0<\/strong><\/p>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<h2><strong>Hardship distribution<\/strong><\/h2>\n<p>You can request a distribution for the reason of &#8216;Hardship&#8217; as defined by the IRS while still employed. Distributions taken before you are 59\u00bd and that are not rolled over may be subject to taxes and penalties.<\/p>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<h2><strong>Leaving the university<\/strong><\/h2>\n<p>Once you leave NAU or retire you can leave your funds in your account, rollover your account to an IRA or another qualified retirement plan or request a distribution.<\/p>\n<ul>\n<li>Most distributions are subject to income tax withholding.<\/li>\n<li>Distributions taken from your 403(b) account before you are 59\u00bd that are not rolled over may be subject to tax penalties.<\/li>\n<li>There is no early withdrawal for penalty for distributions taken from your 457(b) account.<\/li>\n<\/ul>\n<p>Review the <a href=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2024\/05\/457-compare-to-403.pdf\">403(b) vs 457 Plan Comparison<\/a><\/p>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<h3><strong>Still have questions?? <\/strong><\/h3>\n<p>Contact the Benefits Team at nauhrbenefits@nau.edu or call (928) 523-2223.<\/p>\n<p>&nbsp;<\/p>\n<!-- shortcode-right-column -->\n<div class=\"shortcode-right-column\" >\n    <div class=\"shortcode-right-column__container\">\n<h3 style=\"text-align: center\"><div class=\"eplus-bg-color-row bg-color-nau-yellow\"><div class=\"eplus-bg-color-row-content\">Questions?? <a href=\"https:\/\/in.nau.edu\/human-resources\/benefits-faqs-supplemental-retirement-plans\/\" target=\"_blank\" rel=\"noopener noreferrer\">Review FAQs<\/a><\/div><\/div><\/h3>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<p><strong><!-- shortcode-block -->\n<div class=\"shortcode-block\">\n      <div class=\"block-header\">\n        <h3>Resources<\/h3>\n    <\/div>\n          <div class=\"block-body\">\n      <div><\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/in.nau.edu\/human-resources\/benefits-orientation-videos\/\">Orientation Videos<\/a><\/li>\n<li><a href=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2020\/04\/Accessible-Appendix-A-Benefit-Eligibility-by-Benefit-Plan-and-Employment-Category.pdf\">Eligibility Chart<\/a><\/li>\n<li><a href=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2022\/10\/BN_NAU-Benefit-Guide-1.pdf\">Benefits Guide<\/a><\/li>\n<li><a href=\"http:\/\/\\nausharesHuman-ResourcesBenefitsBenefit-Plan-Document\" target=\"_blank\" rel=\"noopener noreferrer\">Benefit Plan Documents and Policies<\/a><\/li>\n<li><a href=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2020\/03\/NorthernArizonaUvoluntaryProgram-FINAL-Clean.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">403b Overview<\/a><\/li>\n<li><a href=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2021\/10\/BN_403bGuide.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">403(b) Guide<\/a><\/li>\n<li><a href=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2019\/06\/AUS_NAU_Online_help_guide.12920-clean.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">403(b) Online Enrollment Help Guide<\/a><\/li>\n<li><a href=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2024\/05\/State-EZ-Form.pdf\">457 EZ Form<\/a><\/li>\n<li><a href=\"https:\/\/in.nau.edu\/wp-content\/uploads\/sites\/5\/2024\/05\/457-compare-to-403.pdf\">403(b) vs 457 Plan Comparison<\/a><\/li>\n<li><a href=\"https:\/\/in.nau.edu\/human-resources\/benefit-contact-information\/\">Benefits Vendor Contact Information<\/a><\/li>\n<\/ul>\n<\/div>\n          <\/div>\n  <\/div>\n\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<\/div>\n<\/div>\n\u00a0<!-- shortcode-right-column -->\n<div class=\"shortcode-right-column\" >\n    <div class=\"shortcode-right-column__container\">\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<h4><div class=\"eplus-bg-color-row bg-color-nau-yellow\"><div class=\"eplus-bg-color-row-content\">Contact Your Retirement Provider<\/div><\/div><\/h4>\n<h4 style=\"text-align: left\"><strong><u>403(b) Plan<\/u><\/strong><\/h4>\n<p><strong>Fidelity Investments <\/strong><\/p>\n<ul>\n<li>Ryan Barton<\/li>\n<li>(480) 322-9743<\/li>\n<li>ryan.barton@fmr.com<\/li>\n<li><em><a href=\"https:\/\/getguidance.fidelity.com\/nau\">\u00a0Schedule an appointment<\/a><\/em><\/li>\n<\/ul>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<p><strong>TIAA<\/strong><\/p>\n<ul>\n<li>Heather Coleman<\/li>\n<li>(480) 350-3210<\/li>\n<li>Heather.Coleman@tiaa.org<\/li>\n<li><a href=\"https:\/\/shared.tiaa.org\/public\/publictools\/events\/meetingAndSeminar?employerId=1-B5FO-3\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Schedule an appointment<\/em><\/a><\/li>\n<\/ul>\n<hr role=\"separator\" class=\"hr--transparent hr--transparent-15px not-in-view\">\n<h4><strong><u>457(b) Plan<\/u><\/strong><\/h4>\n<p><strong>Nationwide Retirement Solutions<\/strong><\/p>\n<ul>\n<li>Randall Neis<\/li>\n<li>480-213-4157<\/li>\n<li>neisr1@nationwide.com<\/li>\n<li><em><a href=\"http:\/\/retirementspecialists.myretirementappt.com\/\">Schedule an appointment\u00a0<\/a><\/em><\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Supplemental Retirement Plans Supplemental plans allow you to save extra money for retirement. NAU does not match your contributions.\u00a0 NAU offers two types of supplemental retirement plans: 403b Tax-Deferred Annuity Plan through Arizona University System 457 Deferred Compensation Plan through the State of Arizona Eligibility All NAU employees are eligible to participate in both the [&hellip;]<\/p>\n","protected":false},"author":235,"featured_media":18704,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","ring_central_script_selection":"","footnotes":""},"class_list":["post-7579","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/in.nau.edu\/human-resources\/wp-json\/wp\/v2\/pages\/7579","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/in.nau.edu\/human-resources\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/in.nau.edu\/human-resources\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/in.nau.edu\/human-resources\/wp-json\/wp\/v2\/users\/235"}],"replies":[{"embeddable":true,"href":"https:\/\/in.nau.edu\/human-resources\/wp-json\/wp\/v2\/comments?post=7579"}],"version-history":[{"count":0,"href":"https:\/\/in.nau.edu\/human-resources\/wp-json\/wp\/v2\/pages\/7579\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/in.nau.edu\/human-resources\/wp-json\/wp\/v2\/media\/18704"}],"wp:attachment":[{"href":"https:\/\/in.nau.edu\/human-resources\/wp-json\/wp\/v2\/media?parent=7579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}