Retirement Plan Announcement for Non-Exempt Staff

Published: July 31, 2017

Dear Non-Exempt Notre Dame Staff,

Over the next few weeks, you will receive information to help you make an important decision regarding your retirement plans. Beginning on January 1, 2018, the University will offer new non-exempt staff the same UND 403(b) Retirement Plan we presently offer to faculty and exempt staff and will close our UND Employee Pension Plan to new staff. To ensure all staff have access to the same benefit, all non-exempt staff currently in the UND Employee Pension Plan will have a one-time opportunity this fall to switch to the UND 403(b) Retirement Plan or remain in the UND Employee Pension Plan. October 23 is the deadline for choosing between the two plans. We know this will be an important choice, so we want to prepare you with the information you need to make an informed decision.

Since our founding, Notre Dame has been committed to being a powerful force for good in the world. That calling informs how we serve all of our faculty, staff, and students. We have always strived to provide retirement plans that are consistent with our values and excellent compared to other places of work.

The UND Pension Plan has served this purpose well for many years. But, over time we have received feedback indicating that it may no longer be the best choice for all staff, especially for those who may spend only part of their careers at the University or want more control over their retirement savings.

To help Pension Plan participants make the right decision, they will have access to retirement experts from Aon Hewitt and Fidelity who understand both plans. They can answer questions, talk through scenarios, and provide the guidance and information needed to make a good decision. In the coming weeks, we will also provide materials and access to resources through the Office of Human Resources to support the Pension Plan participants in making their decision.

Below you will see the key resources that will be available to you:
● A list of Frequently Asked Questions (available here).
● A decision guide and personalized statement from Aon Hewitt (emailed to you and sent to your home on September 7).
● The Aon Hewitt Service Center, available for calls from September 7 through October 23.
● The Aon Hewitt Retirement Plan Choice Web site, which will allow you to model additional retirement estimates for each retirement plan option, available from September 7 through October 23.
● Information sessions held on September 14 and 15.

Each plan has its strengths, and each staff member should choose the plan that is best for him or her. The choice you make is important, and we want to help you make the best decision for yourself. Our primary goal is for everyone to make an informed decision.

The mission and values of the University of Notre Dame drive us to care deeply for our staff and their families. How we help our staff plan for retirement is a very important part of how we live up to our values. We believe these options will strengthen your ability to plan for retirement. Thank you for being part of Notre Dame.

Yours in Notre Dame,

John Affleck-Graves
Executive Vice President