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 the specific Plan (copy of form attached for your reference). The form must be completed, signed, enclosed with explanation and any supporting documentation, and then submitted to UC Retirement Savings Program for approval and submittal to Fidelity for processing. The form, along with any attachments, can be mailed or faxed to:
UC Retirement Savings Program
P.O. Box 24570
Oakland, CA 94623-1570
The properly submitted request must be received by UC Retirement Savings Program by April 1, 2020 in order for Fidelity to meet the distribution deadline of April 15, 2020. Please refer to the Voluntary UC Retirement Savings Program Plan - Summary Plan Description for additional details regarding rules and regulations.
Note: Excess contributions to UC’s DCP are subject to different limits, rules and potential processes.