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Supplemental Plans

(403(b) Pre-Tax, 403(b) Roth After-Tax, 457(b) Pre-Tax and 457(b) Roth After-Tax)

Northern Illinois University offers four supplemental retirement plan options. Northern Illinois University sponsors a 403(b) Pre-Tax and 403(b) Roth After-Tax option in accordance with the Internal Revenue Code Section 403(b) . The State of Illinois Central Management Services sponsors the State of Illinois 457(b) Deferred Compensation Plan with pre-tax and after-tax Roth options.

Your contributions to the 403(b) and 457(b) tax-deferred Plans are made on a pre-tax basis and are not reported on your W-2 statement, which will reduce your taxable income for the year. That means your current taxable income is reduced. A qualified distribution can be obtained at age 59 1/2 and is taxable at the time of the distribution.

Tax deferral” means you pay no income taxes on the money your account earns until you receive a qualified distribution from the NIU Supplemental Retirement Plan.

Your contributions to the 403(b) NIU Supplemental Retirement Roth Plan or the 457(b) Deferred Compensation Plan (Roth option) are made on an after-tax basis are included in your current taxable income. Earnings are tax free if they are part of a “qualified distribution”.  A qualified distribution can be obtained after age 59 1/2 and can be taken at least 5 years from the year of the first Roth 403(b) contribution.

403(b) Roth” means contributions are made on an after-tax basis and are included in your current income.

You may contribute to both the 403(b) and or 457(b) Tax Deferred and the 403(b) and or 457(b) Roth after-tax Plan within the IRS calendar year contribution limit.

Eligibility

Need more information?

Call the HRS Service Center at 815-753-6000 and ask to be connected to one of our HR associates.


Approved 403(b) Vendors

Fidelity Investments Tax-Exempt Services Company
P.O. Box 770002
Cincinnati, OH 45277-0090
www.fidelity.com
800-343-0860
Enrollment information: https://nbacctopen.fidelity.com and enter Plan #54296
www.fidelity.com

TIAA-CREF
200 North LaSalle Street, Suite 1600
Chicago, IL  60601
800-842-2252
www.tiaa-cref.org
On-Line enrollment:  TIAA-CREF Access code is 103375
www.tiaa-cref.org

Approved 457(b) Vendors

State of Illinois/Central Management Services
Deferred Compensation Office
201 E. Madison, Suite 1C
Springfield, IL 62794-9208
800-442-1300