Retirement

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

Providing a retirement plan that considers your financial and physical well-being is important to us. That’s why NMC has partnered with Transamerica to offer team members two different employer contributions to our 403(b) plan.

Per pay period contributions:

  • All new team members will be auto-enrolled at 2% per pay period for employee contributions.
    • Team members may opt out of auto-enrollment or increase/decrease the auto-enrollment rate from 2% by logging into the TransAmerica website.
    • If unchanged, auto-enrollment will increase by 1% annually until it reaches 4%.
  • The employer match will be 50% of the team members’ contributions to a maximum employer contribution of 2%.  For example, if a team member contributes 4%, the employer will contribute 2% per pay period.
  • Per diem employees are not eligible for the NMC match, but they may still participate in the plan.
  • Contributions are 100% vested.

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 year and represent 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%

Note – NMC contributions are subject to annual review  and may change at the employer’s discretion.

AIAS Retirement Plan Educator: 

Melanie Brown

mbrown@aiasretire.com

802-488-8715

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: