Faculty/Staff - NMU Events and Announcements

Faculty/Staff

Take the 2% challenge for America Saves Week

America Saves Week is February 21 to 25

Saving enough for the future doesn’t happen overnight. That’s why it’s so important to keep taking small steps now that can make a big difference later. To celebrate America Saves Week this year, challenge yourself to contribute an extra 2 cents on every dollar to your retirement account. That’s just 2% now with the potential for a lot more in growth by the time you retire. And with pretax contributions, more money goes into your account than comes out of your paycheck. To see your take-home pay when you save more, check out this TIAA calculator.

This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances. Investment, insurance, and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value. TIAA-CREF Individual & Institutional Services, LLC, Member FINRA and SIPC, distributes securities products. ©2022 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017 

Faculty/Staff

Join Kristen Bjorne (Director of Benefits) and Rhea Dever, (AVP of HR) for a webinar designed to help NMU employees understand and access the many wellbeing resources available to them and their eligible dependents.  Join us for a quick 30 minute Zoom session, where we will tour these resources and provide insights into how to make the most of these benefits and services.  Two session days/times will be offered as noted below.  No registration is necessary.  Note that one session will be recorded and made available to interested employees.

Tuesday, April 11 from 12:00pm - 12:30pm:  Join the session using this link

Monday, April 17 from 12:30pm - 1:00 pm:  Join the session using this link

Faculty/Staff

The contribution limits for employees who participate in the voluntary 403(b) and/or 457(b) plans has increased from $20,500 to $22,500 in 2023; and the catch-up contribution limit for employees age 50 and over who participate in these plans increased from $6,500 to $7,500 in 2023. 

This means if you are under age 50 in 2023, the maximum amount you may contribute into your voluntary retirement plan is $22,500.  If you are age 50 or above, the maximum amount you may contribute is $30,000 ($22,500 plus $7,500 catch-up).  Employees interested in adjusting their retirement contribution amount should contact Kimberly Hongisto, Benefits Specialist, at khongist@nmu.edu or phone x2470 and request a Salary Reduction Agreement.