NDSU employees participate in either the NDPERS defined benefit plan or the TIAA defined contribution plan based on the type of position they have. Each plan includes both employer and employee contributions. Additionally, employees may elect to participate in supplemental retirement plans and can contribute via payroll deductions.

• NDPERS Defined Benefit Plan
• TIAA Defined Contribution Plan
• Supplemental Plans: 403(b) and 457(b)

For full details regarding this plan, refer to the Defined Benefit Hybrid Retirement Plan (Main) Handbook.

Contributions

The total contribution to the NDPERS retirement plan is 15.26%. The contributions are calculated as a percentage of your gross pay.

Vesting

To be vested in a defined benefit plan means you have become legally entitled to a monthly benefit from NDPERS when you reach retirement age and terminate employment.

Under NDPERS, you become vested at the earlier of:

• 36 months (3 years) of service credit
• Attaining 65 years of age while employed with a participating employer

Beneficiary Changes

Use the Designation of Beneficiary for the Group Retirement Plan to update your NDPERS beneficiary information.

For full details regarding this plan, navigate to www.tiaa.org/public/tcm/ndus and click “View plan details” next to North Dakota University System 401(a) DC Retirement Plan.

Contributions

The total contribution to the TIAA retirement plan is based on your position and years of service. The contributions are calculated as a percentage of your gross pay.

Category 1: Teaching and research faculty with rank of professor or associate professor, research personnel with equivalent rank, and executive and administrative staff

Category 2: Teaching and research faculty with rank of assistant professor or instructor, research personnel and lecturers with equivalent rank, extension agents, and professional staff

Vesting

The TIAA defined contribution plan features immediate vesting.

Beneficiary Changes

Log in to your online account with TIAA and update your beneficiary information there.

Vendors

NDPERS has payroll deduction services set up with the following vendors:

457(b)

• Bank of North Dakota
• Bravera Wealth
• Nationwide Life
• NDPERS Companion Plan (TIAA)

NDSU has payroll deduction services set up with the following vendors:

403(b)

• Ameriprise Financial
• Fidelity
• Fiduciary Trust Services (Ivy Funds, Waddell & Reed)
• Newport Trust (Vanguard)
• Putnam
• Thrivent
• TIAA
• AXA Equitable Life (current participants only)
• ING - Northern Life (current participants only)
• Mass Mutual (current participants only)
• MFS (current participants only)

457(b)

• TIAA

Contribution Limits

These limits are determined annually by the IRS and are in addition to the contributions made to the NDPERS defined benefit plan or TIAA defined contribution plan.

403(b)

• $22,500 for 2023
• Additional $7,500 for 2023 if you are age 50 or older

457(b)

• $22,500 for 2023
• Additional $7,500 for 2023 if you are age 50 or older
• Additional $3,000 if you have at least 15 years of service and your contributions average less than $5,000 per year, up to a lifetime maximum of $15,000

Enrollment and Enrollment Changes

• To enroll in a 457(b) with NDPERS or update your enrollment, log in to the NDPERS Member Self Service portal. Click “Enroll, Update or View Plans” under NDPERS Plans and then “Deferred Compensation.” Please note there’s a minimum contribution per pay period of $12.50 (or $25.00 per month).
• To enroll in a 403(b) or 457(b) with TIAA, log in to your online account at www.tiaa.org/ndus. The access code for the 403(b) is 150094, and the access code for the 457(b) is 150099. You will also need to complete a Salary Reduction Agreement with NDSU.
• To enroll in a 403(b) with any of other vendors, contact them directly for application processes and materials. You will also need to complete a Salary Reduction Agreement with NDSU.
• To update your enrollment in either plan with TIAA or a 403(b) with any of other vendors, complete a Salary Reduction Agreement with NDSU.