The 403(b) retirement plan performance report for the second quarter of 2022 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 first quarter of 2022 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 fourth 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 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.
The Department of Education just announced that Public Service Loan Forgiveness (#PSLF) has surpassed $10 Billion in debt relief! There’s still a few months left for you to take advantage of the limited PSLF waiver before it expires on October 31st, 2022. NMU has partnered with Savi to make sure our deserving employees understand their eligibility and know how to apply. Student loan policy experts, advocates, and borrowers at Savi will keep you up to date on all details related to student loan news. Register for the next webinar on Wednesday, September 7th at 4 p.m. Click here to register then scroll down on the landing page to find the webinars. The benefit of Savi is personalized guidance so you make sure to take advantage of the PSLF waiver and receive the forgiveness you deserve. With Savi, borrowers can sign up to have their PSLF forms completed digitally to receive forgiveness faster. Sign up for Savi here.
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.
NMU is working with Savi, a social impact company, to help student loan borrowers better understand and manage their student loans. Savi is a free online tool that allows borrowers to discover eligibility for reduced monthly loan payments and loan forgiveness options.
Savi regularly hosts live webinars that will help borrowers get started with the tool and learn more about student loans and policy debates. Click here to register for the February 8th webinar and be sure to scroll down once you are on the landing page to see all the upcoming webinars.
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.