The 403(b) retirement plan performance report for the third quarter of 2021 is now available for viewing. The report includes industry updates, market commentary and review, plan investment review, and fund fact sheets. Please visit MyNMU, Employee Services tab, and click on Retirement Plan Information.
The 403(b) retirement plan performance report for the second quarter of 2021 is now available for viewing. The report includes industry updates, market commentary and review, plan investment review, and fund fact sheets. Please visit MyNMU, Employee Services tab, and click on Retirement Plan Information.
TIAA is sponsoring a live webinar on June 16th from 2 - 3 p.m. to discuss market volatility. No matter where you are on the path to retirement, it's natural to worry about your retirement funds during turbulent times. The good news is your TIAA retirement plan was built knowing times like these happen. Hear from TIAA's top thought leaders as they share their insights on the current market, and offer some suggestions on what you can do right now to stay on track and keep anxiety at bay. Register here.
Blue Cross Blue Shield of Michigan has partnered with Experian to offer all eligible members identity protection services at no cost. You and your dependents are eligible for these services if you are enrolled in the NMU group health plan. Experian IdentityWorks offers more protection and the option to enroll at any time. Once you enroll in IdentityWorks, you will have access to: an Experian credit report, credit monitoring, internet surveillance, identity restoration, child monitoring, and much more! Please see the Blue Cross flyer for additional services and how to enroll.
The contribution limits for the voluntary 403(b) and/or 457(b) plans have increased from $19,500 to $20,500 in 2022; and the catch-up contribution limit for age 50 and over who participate in these plans remains unchanged at $6,500.
This means if you are under age 50 in 2022, the maximum amount you may contribute into your voluntary retirement plan is $20,500. If you are age 50 or above, the maximum amount you may contribute is $27,000 ($20,500 plus $6,500 catch-up). Employees interested in adjusting their retirement contribution amount, or those wanting to begin participation, should contact the Director of Benefits, Ms. Kristen Bjorne, at kportale@nmu.edu and request a Salary Reduction Agreement.
The Human Resources Department will hold its annual enrollment period beginning Monday, November 8th through Monday, November 15th. This is your opportunity to enroll in the Flexible Spending Accounts for next year. In addition if you, your spouse, or children are not currently enrolled in the medical, dental, and vision plans this is your chance to do so. The benefit coverage effective date is January 1, 2022. Watch your e-mail on Monday, November 8th for specific details. Questions may be directed to Ms. Kristen Bjorne, Director of Benefits, at x1030 or e-mail kportale@nmu.edu.
The Human Resources Department will hold its annual enrollment period beginning Monday, November 7th through Monday, November 14th. This is your opportunity to enroll in the Flexible Spending Accounts for next year. In addition if you, your spouse, or children are not currently enrolled in the medical, dental or vision plans this is your chance to do so. The benefits effective date is January 1, 2023. Employees are encouraged to check their e-mail on Monday, November 7th for specific details. Questions may be directed to Ms. Kristen Bjorne, Director of Benefits, at x1030 or e-mail kportale@nmu.edu or Ms. Kimberly Hongisto, Benefits & Onboarding Specialist, at x2470 or email khongisto@nmu.edu
Family status changes including marriage, divorce, birth, adoption, death of a spouse/child, marriage of a dependent child, etc., must be reported to the Human Resources Department no later than 30 days after the event. Proper notification ensures accurate enrollment in benefit plans for new spouse/baby; prompt removal of those you no longer wish to cover; and correct withholding from your paycheck for the associated plan type (e.g., Single, Two, Family). Contact Ms. Kimberly Hongisto, Benefits Assistant, at khongist@nmu.edu or phone x2470 with questions.
Have you or will you experience a family status change this year? Family status changes including marriage, divorce, birth, adoption, death of a spouse/child, marriage of a dependent child, etc., must be reported to the Human Resources Department no later than 30 days after the event. Proper notification ensures accurate enrollment in the various benefits plans (medical, dental, etc.) for new spouse or baby; prompt removal of those you no longer wish to cover; and correct deduction from your paycheck for the associated plan type (single, two, family). Any family changes you experience makes it a good time to review your beneficiaries and bring them up to date for life insurance, retirement plan, and final paycheck. For assistance, please contact Ms. Kimberly Hongisto, Benefits/Onboarding Specialist, at khongist@nmu.edu or phone x2470.
Family status changes including marriage, divorce, birth, adoption, death of a spouse/child, marriage of a dependent child, etc., must be reported to the Human Resources Department no later than 30 days after the event. Proper notification ensures accurate enrollment in benefit plans for new spouse/baby; prompt removal of those you no longer wish to cover; and correct withholding from your paycheck for the associated plan type (e.g., Single, Two, Family). Contact Ms. Kimberly Hongisto, Benefits/Onboarding Specialist, at khongist@nmu.edu or phone x2470.