Retirement Plan Administration

As an employee of NSHE, you are fortunate to be a participant in a multi-faceted Retirement Program that gives you every chance to accumulate significant retirement wealth over time that can be the source of funds for a high quality of life after your retirement.

Updated 3/3/2025

President Biden recently signed the Social Security Fairness Act (HR 82) into law, repealing the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP). This change may increase Social Security benefits for some retirees, but final determinations will be made by the Social Security Administration (SSA). Affected recipients will be notified directly by the SSA about any updates to their benefits.

The changes apply to benefits payable after December 2023. Starting the week of February 24, 2025, the SSA will begin issuing retroactive payments and increased monthly benefits to eligible individuals.

• Retroactive Payments: Eligible beneficiaries will receive a one-time payment by the end of March 2025, covering benefit increases back to January 2024.
• Monthly Benefit Adjustments: New benefit amounts will begin with the April 2025 payment (for March benefits).
• Mailed Notices: Beneficiaries will receive one or two notices from SSA explaining their updated benefits. Some may receive the retroactive payment before the notice arrives.
• Processing Time: Automated processing has expedited payments, but complex cases will require additional time for manual review.
• Inquiries: Beneficiaries are encouraged to wait until April before contacting SSA about their payments, as processing will occur throughout March.

The SSA is working diligently to implement these changes, but the process may take time due to necessary adjustments. For the most up-to-date information, visit the link and subscribe to the FAQ on the Social Security Fairness Act page.

https://www.ssa.gov/benefits/retirement/social-security-fairness-act.html

At NSHE, we prioritize the security of your financial information. As part of our commitment to keeping your data safe, we partner with TIAA, a trusted financial institution that employs industry-leading security measures to protect your online accounts.

TIAA uses multifactor authentication (MFA) to ensure that only you can access your account. MFA requires at least two forms of verification, drawn from three key categories:
Something you know (such as a password or PIN)
Something you have (such as a mobile device or security token)
Something you are (such as fingerprint or facial recognition)

MFA is automatically enabled for all TIAA account holders. In addition, TIAA offers optional security features you can enable for enhanced protection:
Biometric authentication – Use your fingerprint or facial recognition on the TIAA app for secure, convenient logins.
One-time passcode (OTP) – Receive a unique passcode sent to your mobile device every time you log in, adding an extra layer of security.

TIAA’s Security Operations Center provides 24/7 monitoring to protect your account, using advanced detection technologies and threat intelligence to stay ahead of potential threats. With robust data loss prevention controls, security patching practices, and a focus on supplier risk management, TIAA takes all necessary steps to protect your financial information.

In the rare case of unauthorized access, TIAA has a policy to restore your account and cover any losses resulting from fraudulent activity, provided it wasn’t due to your own actions.

For more information about how TIAA secures your financial data, visit their Security Center.