BIS Self-Study Appendices - University of Nebraska Omaha

CREF and/or Fidelity Investments in several investment categories. Accumulations can be accessed after
employment with the University is terminated and can be taken as a lifetime retirement annuity or as a
lump sum payment.
Employees may also participate in the Supplemental Retirement Plan (SRA) which establishes individual
annuity and/or custodial accounts for the purpose of supplementing the basic retirement plan. Any
employee, regardless of age or length of service, may enroll in the SRA. All contributions are made on a
pre-tax, voluntary basis and no University contributions are made to this plan. Participants may invest
with TIAA-CREF and/or Fidelity Investments. Accumulations can be accessed only after employment
with University is terminated and can be taken as a lifetime retirement annuity or as a lump sum
payment. In addition to the basic and supplemental retirement programs, the University also
participates in the Federal Social Security Program.
All retired faculty who have met the normal retirement regulations are also eligible for the employee
scholarship program. Retirees whose applications have been approved pay all normal admission and
matriculation fees. They shall also pay all usual course-related costs such as books and supplies. The
courses may be taken for credit or audit. The program allows tuition equal to the University’s residencytuition-charge-per-semester
credit hours less $1.00 per semester credit hour. The program is limited to
not more than 15 credit hours in any 12-month period and is restricted to no more than 6 credit hours
per semester. The program also allows retired employees to be eligible for the Dependent Scholarship
Program which allows a spouse or dependent children to use the employee’s scholarship. Full-time
enrollment status is required for a dependent child to be eligible but not for a spouse and is limited to
undergraduate academic credit courses at any campus of the University of Nebraska.
Retired faculty has the same right to University non-academic facilities and services as full-time
employees. These include access and/or admission to University non-academic facilities, services,
intercollegiate athletic events, and fine arts programs.
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