Retirement

403(b) Plan

My 403(b) Plan Benefits

Providing a retirement plan that takes into account your financial and physical well-being is important to us. NMC partners with Transamerica to provide a  403(b) and Money Purchase Pension Plan.  Employees are eligible to participate in the 403(b) upon hire.

Tax Sheltered Annuity 403(b)

NMC Employees

  • All new hires will be automatically enrolled at 2% per pay period unless opt out is elected or a different % per pay period is chosen
  • Employees who are automatically enrolled and make no active changes will be automatically increased to 3% per pay period in Year 2 and 4% per pay period in Year3 for a maximum matching contribution
  • NMC matches 50% of an employee’s contribution of 4% or less. These contributions are 100% vested.
    • Per diem employees are not eligible for the NMC match, but may still participate in the plan.
    • If a team member contributes at least 4% of their bi-weekly salary into the plan; NMC will contribute a maximum of 2% on a bi-weekly basis.  Less than 4% contributions by a team member will only be matched by NMC at 50% of the team members contribution amount.  If a team member chooses to contribute more than 4% of their gross bi-weekly pay; NMC does not contribute more than 2%. These contributions are 100% vested.

Note: NMC matching contributions are subject to annual review & can change

Annual Nonelective contributions:

  • Once a team member has achieved twelve (12) months of service and has worked 1,000 hours, NMC will make a contribution equivalent to 3% of the team member’s gross annual pay.  Nonelective employer contributions are made during the first several months of each calendar and represents the prior twelve (12) months.
  • Nonelective contributions to the team members 403(b) are vested as follows:

1 year of service = 33%

2 years of service = 66%

3 years of service = 100%

Annual Reports:
Plan Amendments:
Summary of Material Modifications (SMM):
Contact Information

To change fund allocations or your deferral percentage:

800-755-5081

www.transamerica.com/portal/nmcretirement

Access your retirement account information online:

Forms and Flyers: