The North Dakota Supplemental Retirement Plan is a financial program designed to provide retirement benefits and financial security to employees of the state of North Dakota. This plan acts as a supplemental retirement option in addition to the regular retirement plans available to employees in the state. It offers various benefits and features to help individuals save and invest for their retirement years. One type of North Dakota Supplemental Retirement Plan is the 457(b) plan. The 457(b) plan is available to employees of governmental organizations, such as state agencies, municipalities, and school districts. This plan allows eligible participants to save for retirement on a tax-deferred basis, meaning they contribute a portion of their pre-tax income into the plan, reducing their current taxable income. The funds invested grow tax-free until they are withdrawn during retirement. Another type of supplemental retirement plan is the Deferred Compensation Plan (DCP). The DCP is a voluntary plan available to employees of the state government, including elected officials, judges, and employees of political subdivisions. This plan allows participants to contribute a portion of their salary on a pre-tax basis, providing tax advantages similar to the 457(b) plan. The DCP offers a range of investment options, allowing participants to choose investments based on their risk tolerance and retirement goals. The North Dakota Supplemental Retirement Plan offers significant advantages to participants, including employer-matching contributions for certain employees, the ability to make catch-up contributions for individuals nearing retirement, and the flexibility to transfer funds between investment options. Participants can also access educational resources and financial planning tools to help them make informed decisions about their retirement savings. Planning for retirement is essential, and the North Dakota Supplemental Retirement Plan provides a valuable avenue for state employees to save for their future. With options like the 457(b) plan and the Deferred Compensation Plan, individuals can tailor their retirement savings strategies to meet their specific needs and financial goals. By taking advantage of these plans, employees have the opportunity to build a secure financial foundation while enjoying potential tax benefits.
North Dakota Supplemental Retirement Plan
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A supplemental retirement plan gives your top employees a chance to save more once they've maxed out their contribution to a qualified plan, which can increase engagement and retention.
NDPERS (North Dakota Public Employees Retirement System) is for staff. TIAA (Teachers Insurance and Annuity Association) is for faculty and professional staff.
CalPERS 457 Plan The plan is a voluntary savings program that allows employees to defer any amount, subject to annual limits, from their paycheck on a pretax basis.
TIAA and CREF at a glance TIAA offers annuities and insurance to employees at non-profit organizations, and is required by its charter to operate on a non-profit basis. CREF manages our suite of variable annuities, which are offered to the same individuals and institutions that TIAA serves.
Wherever you are in life, a TIAA IRA may be a smart way to help manage your retirement goals. Our IRAs can help complement your workplace plan and offer a variety of benefits, including: Advice and support.
Helping those who help others find confidence in retirement is our mission. Founded 100+ years ago to help teachers retire with dignity, our reach now extends well beyond education. We stand hand-in-hand with 5M+ clients to help fortify their money and ignite their dreams.
This plan helps you save pre-tax dollars for your future retirement. Enroll or change your monthly contribution into your 457 Deferred Compensation at any time. Join the NDPERS Companion Plan (TIAA) or choose your own investment provider. The NDPERS Board only oversees the Companion Plan investment options.
TIAA Traditional is a guaranteed annuity issued by Teachers Insurance and Annuity Association of America (TIAA) that is designed to be a core component of a diversified retirement savings portfolio. It has helped prepare millions of people like you with a solid foundation for retirement.