UNC 403b Plans – Fidelity and TIAA

The UNC System offers 403b plans on either a pre-tax or after-tax basis.  The vendors for these plans are Fidelity and TIAA.

How to Enroll or change contributions

Any employee of the University whose pay is subject to FICA taxes (Medicare/Social Security) may contribute to 403b plan.

Enrolling in the plan involves a two-step process.  First, complete a 403b Salary Reduction Agreement.  This form authorizes the University to deduct the 403b contribution from payroll.  Next, there is an option to set up an account online with either or both Fidelity and TIAA.  Participants can select their investments and beneficiaries.  If a participant does not complete this second step, the contributions are put into a life-cycle fund with the selected vendor based on the age of the participant.

To change your contributions complete a  403b Salary Reduction Agreement and fax it to the Benefits Office at   919-513-2528.  The enrollment/change form must be received no later than the 10th of the month in order to be effective in the current month payroll.

Contributions and Limits

For 2016, employees may contribute up to the following limits each calendar year via payroll deduction:

  • Up to age 49 – $18,000 per year
  • Age 50 or older – $24,000 per year

Contributions can be pre-tax, after-tax or any combination of the two.  Any money contributed to the Prudential/NC 401k shares the same contribution limits as the 403b and therefore must be aggregated together to determine the annual contribution limit.  The 457 plans offer separate contributions limits for those that want to contribute in addition to a 403b or 401k.

Resources

Fidelity and TIAA have representatives that are on NC State’s campus weekly.  Employees can set up times to meet in person or talk with them via phone or email.  Here are the contacts for the UNC 403b Plans:

Fidelity Investments

TIAA-CREF