NEVADA SYSTEM OF HIGHER EDUCATION

Welcome to the NSHE Supplemental 403(b) Plan and your online resource for details about the plan. This Plan provides many advantages you may not get with other types of savings plan and is an important part of a secure financial future.

ELIGIBILITY

Any person who is employed by the NSHE, excluding any person who is providing services to the NSHE as an independent contractor and excluding student employees and leased employee.

CONTRIBUTIONS

You may elect to contribute a specific dollar amount from your regular salary, on a before-tax basis (or after-tax basis for Roth contributions), to your supplemental retirement plan.

EMPLOYER MATCHING

This plan consists only of your voluntary contributions deducted from your payroll. There is no employer matching with this plan.

VESTING

"Vesting" refers to an employee's right, usually earned over time, to receive some retirement benefits regardless of whether or not they remain with the employer. Your contribution to this account will be 100% vested immediately.

INVESTMENTS

Your employer offers you a variety of investment choices from an array of asset classes. You can see a list of the investment choices under this plan on the Investment Choices page.

EXPENSES

ADMINISTRATION EXPENSES
Pursuant to a bundled service arrangement with TIAA-CREF,NSHE plan participants are charged an annual recordkeeping fee of 0.039% (charged quarterly) out of fund assets. Your recordkeeping fee represent the cost for general administration services that are necessary for the day-to-day operation of your Plan. These services may also include other administrative services such as trustee/custodial services, preparation and distribution of Plan information and materials, customer service representatives, and legal, accounting, and compliance services.

In addition to Plan recordkeeping expenses, The Nevada System of Higher Education is responsible for evaluating the Plan's administrative services and investment options on a regular basis to ensure that they are meeting the System's objectives and performing within established guidelines set by the System. As provided by your Plan, your account is charged an annual fee 0.031% (charged quarterly) out of fund assets for these services. TIAA-CREF also receives indirect compensation directly from the total annual operating expenses of one or more of the investment options offered under the Plan (for example, through revenue sharing arrangements, Rule 12b-1 fees, sub-transfer agent fees.) These shareholder-type fees are in addition to any plan-wide fees and expenses that may have been charged to your account for general plan recordkeeping and administration services. In order to prevent duplicate charges, these expenses may be periodically reimbursed to participants pursuant to a bundled service arrangement with TIAA-CREF.

INVESTMENT EXPENSES

Fees and expenses for each investment option include the total annual operating expense, which reduces the investment's rate of return, along with any shareholder-type fees. Total annual operating expenses varyfrom investment to investment. To learn more about the annual operating expenses associated with the investments in your Plan, see a list of the investment choices under this plan on the Investment Choices page,  and read the Fact Sheet or the prospectus for that investment.

TAXATION

Any earnings on the contributions you make to a retirement choice plan can grow tax deferred. The taxable income you'll pay upon withdrawing funds depends on the type of contributions you make to the plan.

If you make pretax contributions, withdrawals are fully taxable as ordinary income. If you make after-tax Roth 403(b)/401(k) contributions, the contributions are always tax free when you begin to withdraw from the plan. However, in order to receive the Roth earnings tax-free you must meet the five year seasoning period and attain age 59½ or if you are disabled. The payment of Roth 403(b)/401(k) accumulations will be on a pro-rata basis including both contributions and earnings as required by the Internal Revenue Code.

For either type of contribution, withdrawals before age 59½ are generally subject to a 10% early withdrawal penalty on the taxable portion of the amount received.

The tax information contained herein is not intended to be used, and cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. It was written to support the promotion of the products and services addressed herein. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

LOANS

Loans are available from a minimum of $1,000 to a maximum of $50,000 from each employer. How much you can borrow depends on the amount you currently have in the plan and whether you have other outstanding loans. The maximum loan amount available to you is calculated based on the total accumulations in your contract.

Important: TIAA-CREF doesn't offer loans on Roth accumulations in 403(b)/401(k) plans. Roth accumulations will be excluded from the collateral when the loan is issued.

If you have accumulations in other employers' plans, you may be able to transfer or roll them over to this plan in order to increase your maximum loan amount if this plan allows it.*

* Before consolidating outside retirement assets with other providers, you should weigh each option carefully. You may also be able to leave money in your current plan, roll over money to an IRA, or cash out all or part of the account value. You should weigh each option carefully and its advantages and disadvantages, including desired investment options and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment, and your unique financial needs and retirement plan. You should seek the guidance of your financial professional and tax advisor prior to consolidating assets.

1 The availability of certain distributions may depend on the type of contract underlying your plan. Also, if you're married, your right to choose an option may be subject to your spouse's right to survivor benefits. Talk to your benefits office for details.

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