University System of New Hampshire

Retirement Plans

USNH 403(b) Retirement Plan

  • The 403(b) plan provides the opportunity to save for retirement on a tax-advantaged basis

  • Voluntary enrollment in the USNH 403(b) Retirement plan is available upon hire

  • Your elective deferrals begin on the first day of the month following approval of your completed salary reduction agreement and vendor enrollment materials

  • Employees contribute a fixed percentage of their regular budgeted salary into the 403(b) retirement plan

  • Eligible employees participating in the retirement plan receive an employer contribution

  • Retirement investment options are available through Fidelity Investments (Fidelity) and/or Teachers Insurance Annuity Association and College Retirement Equities Fund (TIAA)

  • ROTH Accounts are available to eligible employees

  • The Internal Revenue Service (IRS) has limits on Pre-tax and Roth contributions to the 403(b) Retirement Plan

USNH 403(b) Retirement Plan Information and Links

 

USNH 457(b) Deferred Compensation Retirement Plan

403(b) Contribution Levels

403(b) Retirement Plan – Employee/USNH Contribution Levels for Status USNH Participants

Before a participant will be eligible to participate at the Standard Contribution Level, the Participant must contribute for one year at the Initial Contribution, Alternate, or Middle Contribution Level.

Contribution Level Employee USNH
Initial 6% 6%
Standard 6% 10%
Middle Level 4% 6%
Alternate 2.5% 4%

 

KSCEA 403(b) Retirement Plan - Contribution Levels

Different provisions apply to contributions for status faculty who are covered by the collective bargaining agreement between the USNH Board of Trustees and the Keene State College Education Association (KSCEA).

Contribution Level Employee USNH
Standard 6% 10%
Middle Level 4% 6%
Alternate 2.5% 4%

 

AAUP 403(b) Retirement Plan Contribution Level

Different provisions apply to contributions for status faculty who are covered by the collective bargaining agreement between the USNH Board of Trustees and the University of New Hampshire Chapter of the American Association of University Professors (AAUP).

Contribution Level Employee USNH
Initial 6% 6%
Standard 6% 10%
Alternate 2.5% 6%

403(b) Contribution Provisions, Supplemental Contributions

403(b) Regular Retirement Plan Contributions

How to Enroll: You must complete two steps to enroll:

  • Participants (USNH Faculty/Staff and AAUP) must contribute for one year at the Initial, Alternate, or Middle Contribution Level
  • Effective the first pay period of the month following one year of active participation at the Initial Level, the Employee will be eligible to make the Standard Contribution and receive the employer contribution for the Standard Level

  1. You may open an account with TIAA or Fidelity, or both. When you've made the decision visit the vendor site to enroll online.

  2. Go to MyUSNHBenefits.net, under the Resources Center, Retirement Plan section, download/print the applicable "Salary Reduction Agreement"; complete, sign and return to your Campus HR Office.

 

403(b) Supplemental Retirement Contributions

  • You can make additional elective contributions to the 403(b) Retirement Plan up to the IRS elective deferral limits

  • The additional supplemental contributions must be a fixed dollar amount and receives no employer match

  • You must be enrolled in the USNH Regular Retirement Plan and contributing at the Standard Level

How to Enroll: You must complete two steps to enroll:

  1. You may open an account with TIAA or Fidelity, or both. When you've made the decision visit the vendor site to enroll online.

  2. Go to MyUSNHBenefits.net, under the Resources Center, Retirement Plan section, download/print the applicable "Salary Reduction Agreement"; complete, sign and return to your Campus HR Office.

403(b) Vesting

Vesting 403(b) Retirement Plan

Benefits eligible years of service, which will count for purposes of your vesting in the employer contributions, shall be in accordance with the following schedule:

Combined Years of Benefits Eligible Service Vested Percentage (Employer Contribution)
Less than 3 years 0%
3 years or more

100%

  • All employees are fully and immediately vested in the accrued benefits arising from employee contributions and rollover contributions
  • A year of service is earned for each year you are employed in a status USNH position, beginning with the date you make an elective contribution entitling you to an employer contribution

457(b) Deferred Compensation Retirement Plan

  • The deferred compensation plan allows individuals to set aside a portion of their salary on a tax advantaged basis

  • In order to contribute to the plan, you must be an active participant in the USNH 403(b) retirement plan

  • Voluntary contributions above your regular and supplemental 403(b) retirement plan are subject to plan maximums

  • Investment options are available through Fidelity or TIAA

  • Roth Accounts available

  • Contact your Campus HR Office for a USNH Salary Reduction form

  • More information on USNH 457(b) Deferred Compensation Retirement Plan

Enrollment in Retirement Plans

Retirement Plan Enrollment Guide

 

Retirement Enrollment is a two-step process:

  1. Complete the online application with TIAA and/or Fidelity

  2. Complete the 403(b) Salary Reduction Form

Contributions are deducted the 1st pay period of the following month after approval by your Campus Human Resources Benefits Administrator.