403(b) Retirement Plan
The University of New England Defined Contribution Plan provides a 403(b) pre-tax and post-tax (Roth) retirement savings plan opportunity for employees who are not UNE student employees.
Eligibility
- Regular full- and half-time employees, as defined in the Personnel Handbook, may join the UNE retirement plan.
- Participation may begin the first possible payroll period after an employee’s date of hire upon completing the Fidelity online enrollment process.
- Please review the Summary Plan Description (PDF) for more eligibility details and consult with Human Resources for specific situations.
- To be eligible for UNE’s match, an employee must have 12 months of higher education service prior to joining UNE or must work for UNE for 12 months.
Employee Contributions
Any employee who is not a UNE student employee can elect to contribute any combination of their pre-tax and post-tax savings options, up to the IRS annual contribution limits. There is no waiting period to begin contributing. Employees can enroll and increase or decrease their contribution percentage in UNE’s 403(b) plan at any time.
Employer Matching Contributions
Employees who are eligible for the matching contribution and are contributing to the retirement plan will receive a dollar-for-dollar match on their combined pre-tax and post-tax contributions, up to 8% of their eligible compensation. Regular full- and half-time employees, and adjunct faculty or temporary professional staff who are expected to work more than 1,000 hours per year, are eligible for UNE’s employer match after 12 months of service at UNE, or otherwise have 12 months of higher education service. Employees who are not expected to work more than 1,000 hours in a year are not eligible for the match. If such an adjunct faculty or temporary professional staff does work 1,000 hours in a year, special eligibility rules apply. Please review the Summary Plan Description (PDF) for more details and consult with Human Resources for specific situations.
Investment Selection
Employees select their 403(b) retirement plan investment funds directly through Fidelity Investments. Fidelity Investments representatives and their online retirement planning tools can assist with your retirement planning decisions.
Fidelity Resources
Fidelity Representatives on Campus
Fidelity will be on campus periodically throughout the year to assist you with your transition, enrollment, and retirement planning questions.
Download instructions for how to schedule a meeting with a Fidelity Representative (PDF)
Schedule a meeting with a Fidelity representative
Enrolling and Managing Your Account
Fidelity provides a web-based system that allows you to enroll in and manage your account and find important investment information and tools. To make changes to your contribution amount, change your investment strategy, get an electronic statement, change your beneficiaries, and more, simply go to Fidelity online and log in. The Quick Links option helps you find the most common services.
How To Enroll
To enroll go to Fidelity online and click on the “Register as a new user” link at the bottom of the page. The system will guide you through the enrollment process. If you need help enrolling, please contact the Fidelity Retirement Benefits Line at 1 (800) 343-0860.