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401(a) Defined Contribution Retirement Plan
- Eligible new hires may opt out of the Defined Benefit plan and elect the Defined Contribution within the first 6 months of employment.
- Each eligible new hire receives notification and personal plan comparisons. Contact NDPERS directly regarding questions.
- If you elect the Defined Contribution Plan, you are responsible for managing your retirement account balance by working with consultants from the Trustee Company (TIAA).
- Your retirement benefit is based on your account balance, and you determine your stream of income.
- There is no guaranteed lifetime monthly benefit.
- Your Defined Contribution Plan election is irrevocable!
- In the event of a divorce, please review the Qualified Domestic Relations Order for additional information.