Part-Time Employee, FICA Alternative
Effective July 1, 2005 NSHE implemented a FICA (Federal Insurance Contributions Act) Alternative Plan administered by the State’s Deferred Compensation Committee for employees who would typically contribute to the FICA portion of Social Security. The State’s FICA Alternative Plan allows affected employees to accumulate retirement benefits and control their investment options in a manner different from Social Security. 7.5% pre-taxed dollars will be deducted from the participant’s base salary and invested in the deferred compensation plan of choice. The FICA Alternative vendor is The Hartford and offers guaranteed interest rates on all deposited funds of 3% or more. For more information regarding rates, please contact the vendor at:
Vendor Name
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Website
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Phone Number
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Local Contact
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(800)255-2464
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Janet Corral
(702) 262-0304
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Frequently Asked Questions
1) What happens to the funds when a participant separates from service?
Participants who separate from service and choose to withdraw their funds must notify their vendor in order to receive the funds.
Participants who separate from their employer and wish their funds to remain deposited will not need to notify their vendor of their change in employment status.
Special Note: The vendor has determined that separation means an employee has not been paid within the NSHE system for one month.
2) Can a participant withdraw their funds early without a penalty?
There is no penalty for early withdrawal prior to retirement; however, a participant will be taxed on the amount of withdrawal. Refunds can take anywhere from 4 to 8 weeks.
3) Can a participant roll their funds into another qualified plan?
Yes, a participant can roll their funds into another qualified plan. The vendor will assist the participant with this process.
Withdrawing monies from the FICA Alternative Hartford and ING accounts:
For Hartford, please fill out the Withdrawal Form and submit to CSN HR for signature; UNLV Benefits Manager will sign off on this form and submit to Hartford.
For ING, you must request a Withdrawal Form from ING Customer Service at 800-584-6001; please note that the IRS requires ING to withhold 20% on most all distributions. If you have questions, or get confusing information from ING Customer Service, please contact Dianna Hennessey at, toll-free at 866-464-6832 or (775-886-2400). Once the form is filled out, please submit to CSN HR for signature; UNLV Benefits Manager will sign off on this form and submit to ING.
Completed forms can be mailed to:
Kathy Eghoian
CSN HR
6375 W Charleston Blvd., Sort Code W40E
Las Vegas, NV 89146
If you have any questions, please contact the Human Resource department at 651-5800
Questions and Answers from ING and The Hartford about the Safety of Employees' Accounts
If you have any questions or comments about any of the information contained on this or other Human Resources pages, please e-mail HRCustomerService@csn.edu.
