NC 401(k) Plan

NC 401(k) Supplemental Retirement Income Plan of North Carolina (Prudential Insurance Company of America). 

Plan Highlights

• All permanent employees of UNC Asheville are eligible

• You may enroll anytime

• Account is always 100% vested

• Change contribution rate anytime

• Establish your future investment allocations, exchange investments, and stop contributions anytime

Contribution Limits

401(k) participants can contribute up to 80% of salary not to exceed the specified contribution limit. The maximum annual contribution limit will be :

• 2005 - $14,000

• 2006 - $15,000

• indexed in increments of $500 after 2006

Catch-Up Contributions

Participants who are age 50 or older are allowed to make additional catch-up contributions as follows. Catch-up contributions can only be made after the maximum allowable have been made.

• 2005 - $4,000

• 2006 - $5,000

• indexed in increments of $500 after 2006

* Note:  The annual contribution limits for the 403(b) and the 401(k) are combined - you may only contribute a total of the annual limits between the two plans.  For instance, in 2005 you could contribute $7,000 to the 401(k) and $7,000 to the 403(b) for a total of $14,000 without exceeding the annual limit.

Prudential NC401(K): 1-866-624-0151

NC 401(k) Plan Roth Feature / Details

For more information about NC 401(k), please see their website, or email or call Lisa Honeycutt at 232-5114. 

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