When planning your retirement investment, it's important to know the differences between the three plans offered. Our centralized benefits are the same on each of our four campuses (UNO, UNK, UNMC, and UNL).
Need help?
- Start with the guide, How to Plan Your Retirement Investment.
- Schedule a free individualized retirement counseling session with our providers.
- Attend a pre-retirement planning seminar.
Overview of Retirement Benefits
We provide medical, dental, life, dependent life and long-term care insurance, as well as a tuition scholarship program for retirees and their dependents. Vision Care and Health Care Reimbursement Account participation may be continued through COBRA. An overview of eligibility, social security benefits and Medicare Insurance can also be found at the link above.
Basic Retirement Plan: 401(a)
The University of Nebraska provides a retirement plan for the purpose of accumulating lifetime retirement income through participation in the Basic Retirement Plan. Both employees and the university contribute to the Basic Retirement Plan based on a percentage of their salary. Employees may choose between two levels of participation.
Supplemental Retirement Plan: 403(b)
Employees may participate in the Supplemental Retirement Plan, which establishes individual annuity and/or custodial accounts to supplement Basic Retirement Plan contributions. Participation is voluntary and 100% employee-funded.
Deferred Compensation Retirement Plan: 457(b)
Employees are eligible to participate in the 457(b) Deferred Compensation Plan. Participation is voluntary and 100% employee-funded.
Our Providers
TIAA
800.842.2776
Fidelity Investments
800.343.0860
Social Security Administration
http://www.ssa.gov
Plan for Your Retirement
Planning for retirement?
Five-Year Plan to Retirement
Our step-by-step guide outlines the resources available to you and the steps you need to take to utilize the university's retirement benefits.
View the PlanThere are three factors that determine if you can retire from the University of Nebraska:
- Normal retirement age at the University of Nebraska is 62. There is no service requirement for employees retiring at age 62 or older.
- Faculty or staff members between the ages of 55-62 with ten years of service may take ‘early’ retirement.
- An employee may request a disability retirement due to a physical or mental disability that prevents satisfactory work performance. There are no age or service requirements. Medical documentation is required.
Supplemental Salary Payment
Office/Service employees who are hired before January 1, 2019, and who retire from the University before July 1, 2035, shall receive a supplemental salary payment equal to 1/4 of their unused accrued sick leave up to a maximum 360 hours with the rate of payment equal to the regular rate of pay at the time of retirement. Office/Service employees hired on or after January 1, 2019, will not be eligible to receive the 1/4 supplemental salary payment upon retirement.
If you are eligible for retirement, you may request a retirement date beyond your last day worked using your accrued and unused vacation, floating holiday, and compensatory time earned through your retirement date.
Other university benefits
- Season football tickets can be continued at faculty/staff rates if the retiree is a current season ticket holder and has been for at least 10 consecutive years.
- Retirees and their eligible dependents may participate in the Tuition Scholarship Program.
- Campus Recreation membership can be retained at faculty/staff rates at the time of retirement.
- Library privileges can be continued.
- Ability to keep university discounted cellular service if retiree held a plan prior to retirement date.
- Learn about Emeriti benefits for faculty.
- Join the Emeriti and Retirees Association where you can enjoy fellowship among members, learn through presentation and discussions of current issues, and you can stay connected to campus by special opportunities for tours and talks.