EDB MANUAL

UCLA Payroll Services

A guide for departments to use when adding or changing employee records on the Employee Data Base (EDB).
EDB MANUAL, SECTION E - BENEFITS

E3.0 EDB BENEFITS - UC RETIREMENT SAVINGS PROGRAM


The University offers eligible employees tax-deferred 403(b), 457(b) deferred compensation, and Defined Compensation After-tax plan options. These plans are administered to provide supplemental retirement benefits based on each employee’s voluntary contributions, plus any interest/earnings.

E3.1 Tax-Deferred 403(b) Plan

A voluntary defined contribution plan to which employees may contribute on a tax-deferred basis.

Tax-Deferred 403(b) Plan
Initial Eligibility All employees (except students who normally work fewer than 20 hours per week) are eligible to participate in the Tax-Deferred 403(b) Plan -- UC Managed Funds.
Enrollment Employees may enroll at any time on a flat-dollar OR percentage basis. Employees may roll over money from a previous employer’s 403(b) plan.
Effective Date The BEGIN date of the pay period for the paycheck that shows the initial enrollment or change, subject to payroll deadlines.  See Section E3.4.
Changing Participation or Allocation Employee may start, change or cancel contributions at any time, subject to payroll deadlines.
Contribution Limits IRC limits the annual contribution amount (all tax-deferred plans included). See Section E2.11.
Fund Transfers Employees may transfer among UC-managed Core funds and/or other mutual funds. 
Fees Administrative fee is deducted before calculation of the unit values and interest factors. No record-keeping fees.

 

E3.2 457(b) Deferred Compensation Plan

A voluntary defined contribution plan to which employees may contribute on a tax-deferred basis.

457(b) -- Deferred Compensation Plan
Initial Eligibility All employees (except students who normally work fewer than 20 hours per week) are eligible to participate in the Tax-Deferred 457(b) Plan – UC Managed Funds.
Enrollment Employees may enroll at any time on a flat-dollar OR percentage basis. Employees may roll over money from a previous employer’s 403(b), 401(a), 401(k), 457(b) public plans. Rollovers are not allowed from 457(b) private plans.
Effective Date The BEGIN date of the pay period for the paycheck that shows initial enrollment or change.
Changing Participation or Allocation Changing participation or Allocation may be done any time, subject to Payroll Deadlines.  See Section E3.4.
Contribution Limits IRC limits the annual contribution amount (all tax-deferred plans included).  See Section E2.12.
Fund Transfers Employees may transfer among UC-managed Core funds and/or other mutual funds.
Fees Administrative fee is deducted from each fund before calculating the unit values and interest factors.

 

E3.3 Defined Contribution Plan After Tax Account

A defined contribution plan to which employees may contribute on an after-tax basis.

Defined Contribution (DC) Plan -- After Tax Account
Initial Eligibility All employees (except students who normally work fewer than 20 hours per week) are eligible to participate in the Defined Contribution (DC) Plan After Tax Account
Enrollment Employees may enroll at any time on a flat-dollar basis ONLY. Employees may roll over 401(a) or 401(k) money.
Effective Date The BEGIN date of the pay period for the paycheck.
Changing Participation or Allocation Contribution amounts may be changed or canceled at any time. Future contributions may be redirected at any time subject to payroll cutoffs.  See Section E3.4.
Contribution Limits The plan limit is generally the lesser of 100% of the employee's annual adjusted gross University compensation or $44,000.
Fund Transfers Employees may transfer among UC-managed Core funds and/or other mutual funds.
Fees Administrative fee is deducted before calculation of the unit values and interest factors.  No record-keeping fees.

 

E3.4 How to Enroll/Change/Cancel contributions in UC Retirement Savings Program

To enroll/change/cancel contributions in UC Retirement Savings Program contact Fidelity Investments Tax-Exempt Services company (FITSCo) at 866-682-7787 or go to https://www.mysavingsatwork.com/atwork.htm.  To access your account on this site, click on Netbenefits and enter your Personal Identification Number (PIN).  If there is no existing PIN, enter social security number, date of birth and home zip code and create a Personal Identification Number (PIN).

E3.5 U.S. Savings Bonds

U.S. Savings Bond deductions are NOT keyed on-line. Enrollment forms (UPAY 694) should be requested and sent back to the appropriate Central Benefits Office.


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