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...
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...
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...
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...
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)...
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...
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...
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...
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...
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.
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
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 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...
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...
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...
To help you balance work and family responsibilities, UC offers Bright Horizons Care Advantage, a comprehensive web-based resource. Faculty and staff serve the UC community every day – but their responsibilities rarely end with their jobs. The Bright Horizons Care Advantage programs help you find pre-screened care resources that fit your family’s needs. For more...
Health Net will begin a health plan benefits e-mail campaign with messages scheduled to be sent every 2 weeks (starting May 2, 2019 and continuing until July 2019) to Blue & Gold members with e-mail addresses on file with Health Net. The goal is to increase awareness among members on the various ways to obtain...
UC Blue & Gold announces the new UC Teladoc services with a Welcome Kit mailed to each plan participant to arrive in homes the week of April 15, 2019! UC Teladoc offers plan participants access to a network of physicians providing patients with the highest quality healthcare at any time. All Teladoc members have access...
UCR offers assistance to employees required to make a selection on the UC Retirement Choice program and contributing to a voluntary UC retirement savings plan. We offer additional benefits through California Casualty insurance, Altura and SchoolsFirst local credit unions. Join us at our ongoing bi-monthly meetings to learn from the plan experts to obtain information...
The UCR Human Resources Benefits Office is hosting Fidelity Investments as they present a number of informational retirement workshops. Saving wisely for retirement is an important decision and obtaining the appropriate information and guidance is key. All UCR faculty and staff are invited to join these workshops to hear from the retirement experts who will...