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Important Changes to UC Benefits Programs for Pandemic Relief

In response to the COVID-19 pandemic, the Departments of Labor and Treasury issued a rule extending the time periods during which participants may take certain actions relating to their group health plan coverage. The rule, “Extension of Certain Timeframes for Employee Benefit Plans, Participants and Beneficiaries Affected by the COVID-19 Outbreak,” is published in the...
By Human Resources Benefits |

Health FSA Carryover Balance Availability

Typically, remaining Health FSA contributions carried over from the prior plan year become available to participants on May 15. However, due to implementation of the new regulations, the release of the carry-over funds has been delayed. Employees logging into their Health FSA account will not yet see the carry-over funds posted to their accounts. Employees...
By Human Resources Benefits Office |

Return of Excess Contributions – 2019 - Deadline Extended to July 15, 2020

The IRS has extended the deadline to process and refund any 2019 excess contributions to a participant from their UC Tax-Deferred 403b and/or 457(b) Deferred Compensation Plan to July 15, 2020. Any participant who may have over-contributed (exceeded the IRS limits) to either Plan must contact Fidelity Retirement Services (866) 682-7787 and request a Return...
By Human Resources Benefits Office |

Kaiser Permanente Coping with COVID-19 Webinar Series

As we gradually move towards returning to a sense of normalcy in our nation, Kaiser Permanente wants to support our communities through this transition by hosting a COVID-19 & Beyond Webinar series for all UC employees – you do not have to be a member of the Kaiser medical plan to participate. The webinar series...
By UCR Human Resources Benefits Office |

Wage Works: Important information about your FSA in response to COVID-19

The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law as of March 27, 2020, contains important provisions that will affect Flexible Spending Accounts (FSAs). Also, under existing rules, certain changes in your situation may allow you to increase or decrease contributions, or enroll or disenroll from your FSA. Please note: Though the...
By Human Resources Benefits Team |

COVID-19 – Response from UC Health Plans as of 3/23/2020

UCOP has canvassed our health plans and the following is a summary of information and guidance for each medical plan relating to the current medical crisis. Please review this information and for more specific assistance or questions, it is best to visit your medical plan microsite and/or contact the customer service team using the phone...
By UCR Human Resources Benefits Office |

Update to Changes to Flexible Spending Accounts due to COVID-19

Under the general rules of Flexible Spending Accounts (FSA), certain changes that occur in an employee’s situation are considered “Change in Status” events which allow participants to increase or decrease contributions, or enroll or dis-enroll from a FSA. The following are some situations that may occur as a result of the response to the pandemic...
By Human Resources Benefits Team |

Fidelity Investments Retirement and Financial Planning Consultations Availability

During this time of international crisis and quarantine as a result of the Coronavirus pandemic, Fidelity Investments, the UC Retirement and Financial Planning experts, are readily available to assist with employee retirement and financial planning needs. Matthew Vallejo and Brandon Moore are currently available for personal, confidential, one-on-one phone consultations. In addition, the Fidelity Investments...
By Human Resources Benefits Team |

Health Plan’s Response to COVID-19

Numerous requests have come in regarding how our medical plans are responding to the Coronavirus Disease 2019 (COVID-19). Plans are following guidelines from the Centers for Disease Control and Prevention (CDC), the Department of Insurance (DOI) and/or the Department of Managed Health Care (DMHC). The Internal Revenue Service (IRS) issued Notice 2020-15 advising that, to...
By Human Resources |

Minimum Required Distribution changes effective January 1, 2020

In late December 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law and contains sweeping changes for retirement programs including IRAs and employer sponsored plans. The majority of the changes in the SECURE Act either do not impact the University of California Retirement System (which includes UCRP, 403(b), 457(b)...
By HR Benefits Department |

HealthEquity – Monthly Electronic Communication sent to Health Savings Plan members

On January 30, 2020, HealthEquity sent two versions of the monthly electronic communication to Health Savings Plan participants focusing on changes to the HealthEquity platform that allows those with at least a $1,000.00 Health Savings Account balance to invest funds. For members who are already investing, the e-mail emphasized a simpler process for ongoing portfolio...
By HR Benefits Team |

UC Plus Supplemental Health Plan Welcome Kits correction

In December 2019, Aflac sent Welcome Packets containing incomplete plan information to a portion of the employees (5,000) who enrolled in the new UC Plus Supplemental Health Plans effective January 1, 2020. The materials sent reflected benefit coverage provided under Aflac’s standard plans, but did not include the additional custom benefit enhancements UC added to...
By Human Resources Benefits |

Return of Excess Contributions - 2019

The deadline to process and refund any 2019 excess contributions to a participant from their UC Tax-Deferred 403b and/or 457(b) Deferred Compensation Plan is April 15, 2020. Any participant who may have over-contributed (exceeded the IRS limits) to either Plan must contact Fidelity Retirement Services (1-866-682-7787) and request a Return of Excess Contribution form noting...
By University of California, Riverside |

UC Retirement Savings Program - 2020 Contribution Limits

In addition to your primary (required) retirement benefits, you may need to save additional money to have the standard of living you want in retirement. The voluntary UC Retirement Savings Program offers a convenient, tax-advantaged way to save for retirement. The program includes: Tax-Deferred 403(b) Plan 457(b) Deferred Compensation Plan Defined Contribution Plan, which consists...
By UCR Benefits Department |

2020 Indexed Dollar Limits for Tax-Qualified Employee Pension Plans, 2020 Social Security Wage Basecial Security Wages

The Internal Revenue Service recently announced the 2020 dollar amounts provided under qualified pension plans and tax-sheltered annuity arrangements indexed for cost-of-living increases. We have also included the 2020 Social Security wage base for your reference. View the memo from UC Human Resources to see the new amounts for 2020.
By Human Resources Benefits |

Give Yourself the Gift of Tax-Free Savings

Learn about tips, provided by Health Equity, to save with your Health Savings Account (HSA) for 2019. To see these important reminders, please visit HealthEquity.com
By Human Resources Benefits |

UC Pathway Funds - Updates for January 1, 2020

There are two upcoming changes to the UC Pathway Funds, the target date investment series available to participants in the Retirement Savings Program (403(b), 457(b) and DC Plans). The UC Pathway Fund series is designed to evolve over time, transitioning the nearest-dated fund into the Income Fund five years after its target retirement year. Additionally...

WageWorks and HealthEquity Merge

WageWorks was recently acquired by HealthEquity. By combining forces, HealthEquity and WageWorks have become a leading administrator of HSAs, FSAs, HRAs, COBRA, and commuter benefits. For more information regarding the acquisition, including FAQs, please visit www.wageworks.com/about/. At this time, there will be no changes in the account management team or FSA, COBRA and HSA plan...
By Human Resources Benefits |

Financial Planning & Retirement Orientation

UCR offers this workshop to provide assistance to employees required to make a selection on the UC Retirement Choice program and contributing to a voluntary UC retirement savings plan. We also offer information regarding additional benefits available through California Casualty insurance, Altura and SchoolsFirst local credit unions. Please join us at our ongoing bi-monthly meetings...

Health Flexible Spending Account Carryover

The 2018 Health Flexible Spending Account (FSA) Carryover funds have been credited to participants’ WageWorks accounts. As a general rule, as long as a participant has a minimum of $25 of Health FSA funds left over from a plan year, up to $500 will be carried over to the following year. Unused funds greater than...