Retirement Plans
Secure Your Future, Start Saving Today
Thinking about retirement? You're not alone! Planning ahead can help ensure a comfortable and secure future. That's why Nova Southeastern University offers a variety of retirement plans tailored to your specific needs. Whether you're just starting your career or nearing retirement, we've got you covered. Let's work together to build a brighter financial future.
Explore NSU's Retirement Plans
- NSU 401(k) Plan
- Grande Oaks 401(k) Plan
- NSU Puerto Rico 401(k) Plan
- NSU 457(b) Deferred Compensation Plan
- NSU 403(b) Plan (Frozen)
How to Enroll in an NSU Retirement Plan
Enrolling in your NSU retirement plan is a great first step toward securing your future. Here's how to get started:
- Visit the NSU Retirement Plan Website: Head over to Tiaa.org/nsu website. This website is your one-stop shop for everything related to your NSU plan.
- Enroll or Make Changes: Once you're logged in, you can easily enroll in the plan that's right for you. You can also adjust your contribution percentages and investment selections to personalize your plan based on your financial goals.
- Need Help? We've Got You Covered: A step-by-step guide is available to walk you through the enrollment process. If you have further questions, you can always contact TIAA directly at 800-842-2252
Important Note: To ensure TIAA has received your demographic information, you may enroll in the plan the 3rd week after your hire date.
View Step-by-Step Enrollment Guide
Adding/Updating Your Beneficiary Information
Naming your beneficiaries is a crucial step in ensuring your wishes are carried out. By keeping your beneficiary information up-to-date, you can safeguard your loved ones' financial future.
Why Update Your Beneficiary Information?
- Ensure your assets go to the right people: Life changes like marriage, divorce, or having children may impact your beneficiary designations.
- Avoid delays in benefit payments: Keeping your information current can expedite the claims process.
- Protect your family's future: By naming beneficiaries, you can provide financial security for your loved ones.
- Take priority over your will: Beneficiary designations in your retirement plan supersede your will.
To update the beneficiary on your retirement plans, simply log in to your TIAA account and navigate to the "Manage Beneficiaries" section under your profile. There, you can easily designate beneficiaries and allocate percentages.
Download Guide for Updating Your Beneficiary Information
Important: It's equally important to update your beneficiaries for your Basic Life Insurance and Optional Life Insurance plans. To do this, log into your ICUBA profile through Sharklink and go to "My Profile." Please note that updating your beneficiaries in TIAA will not automatically update your life insurance beneficiaries.
Investment Lineup
You may invest your contributions among 38 investments which fall into 3 tiers. To review the investment lineup in detail, please visit TIAA's investment options webpage.
Loans and Withdrawals
Employees have the option to request a loan or withdraw funds from their NSU retirement plans. There are taxes and penalties that apply to hardship withdrawals (but not to loans), so you should consider such an option as a last resort before accessing funds.
Note: Not all plans qualify for loans or withdrawals. Check your respective retirement plan for more details.
Distributions
Distributions are taxable unless rolled over to a qualified retirement plan or Individual Retirement Account (IRA).
Note: Check your respective retirement plan for more details.
Financial Advice
NSU wants to empower you to make informed decisions about your retirement savings. As a participant, you have complimentary access to personalized advice from both CAPTRUST and TIAA. Whether you're just starting out or nearing retirement, these advisers can help you:
- Craft a personalized financial plan
- Understand your investment options
- Feel confident about your future
Schedule Your Free Consultation
- CAPTRUST: Call 800-967-9948 or visit captrustatwork.com/scheduler and click "Schedule an Appointment" in the upper right corner
- TIAA: Use the NSU Single Sign-on link, visit TIAA.org/schedulenow, or call 800-732-8353, weekdays, 8 a.m. to 8 p.m. (ET).
TIAA Online Tools
Visit TIAA.org/tools for convenient resources that can help you on the path to retirement. You supply the information, and the tools do the rest. Some tools that are available to you include:
- Retirement Advisor: Receive savings and investment recommendations and get a a custom retirement plan in five steps.
- Retirement Income Illustrator: Find out how much of your current income you'll need to replace to cover retirement expenses. Explore your retirement income options. See your estimated monthly retirement income and how to maximize it.
- 360° Financial View: Consolidate your information from more than 11,000 financial institutions. Track your spending and set up email alerts. Create a budget that works for you.
Schedule a Meeting with a TIAA Financial Adviser
AIG/VALIC (Corebridge Financial) to TIAA Transition
In October 2022, NSU began the transition to consolidate AIG/VALIC (Corebridge Financial) Retirement Services to the TIAA Retirement Service platform, with the objective of improving the services provided as well as reducing recordkeeping fees.
Disclaimer
In the event of any conflict or inconsistency between the information described and contained on this website and the official Plan Document, the terms and conditions of the Plan Document shall control. NSU is not responsible for any investment advice provided to participants by Captrust and/or TIAA.
Have Questions?
For questions regarding NSU retirement plans, please contact the Office of Human Resources at ohr-retirement@nova.edu.