UCF 403(b) Plan Changes

What is changing?

After thorough examination of provider landscape and fees, service, resources, and various capabilities of the retirement plan providers, the UCF 403(b) Investment Committee passed a motion to reduce the number of active 403(b) providers from eight, to three. Effective April 2017, they will be Fidelity, TIAA, and VALIC. There will also be a new and enhanced investment menu line up that will be available for selection in April 2017.

*Please Note: All UCF employees (regardless of their classification) are eligible to participate in the UCF 403(b) plan.

What do I need to know?

  • Effective 4/21/2017, there will be three providers for the voluntary 403(b) retirement savings plan: Fidelity, TIAA, and VALIC. The UCF Human Resources Benefits Section will email you specific information regarding the action needed if you have accounts with a retirement plan provider that will no longer be available.
  • We are introducing new lower-cost investment options. The new investments, carefully selected for UCF employees, offer the ability to create a diversified retirement portfolio that matches investment goals and preferences.
  • Personalized advice or guidance on the plan’s investment options from retirement plan provider representatives will still be available. CAPTRUST will also offer unbiased advice at no charge for all active UCF employees. The MyFRS Financial Guidance Line will continue as another source of unbiased advice for members of the FRS Pension and Investment plans.
  • Roth 403(b) option will be available through all three providers. Contributions and any earnings made to the plan via the Roth option may be tax free at withdrawal at the age of 59½. This may provide tax benefits for these savings in retirement.
  • Managed Accounts will be available. Managed accounts provide investment advice tailored to specific needs and goals. Additionally, manager accounts provide professional oversight and a systematic and disciplined approach to help manage retirement plan investments.

 

Date Event
March 2017 Fidelity, TIAA, and VALIC will mail comprehensive transition guides to their plan participants with detailed information about the updates. Separate transition guides will be mailed to employees (from TIAA) who have accounts with a retirement plan provider that will no longer be available beginning in April 2017 with the steps necessary to open a new account.

  • Click here for an electronic version of the Fidelity Transition Guide
  • Click here for an electronic version of the TIAA Transition Guide
March 29, 2017
12:00 p.m. to 1:00 p.m.
Webinar: UCF 403(b) Changes Overview & Transition Assistance
Register Here
April 5, 2017
9:00 a.m. to 10:00 a.m.
11:00 a.m. to 12:00 p.m.
2:00 p.m. to 3:00 p.m.
Financial Wellness Series On-site Seminars
Human Resources Training Room*Registration information for Financial Wellness Series sessions will be sent in late February 2017.
April 6, 2017
12:00 p.m. to 1:00 p.m.
Webinar: UCF 403(b) Changes Overview & Transition Assistance
Register Here
April 21, 2017 Effective Date for all UCF 403(b) Plan Changes
April 25, 2017
April 26, 2017
April 27, 2017
CAPTRUST Onsite Individual Employee Meetings
*By Appointment Only
Human Resources Training Room CAPTRUST Financial Advisors will be onsite conducting individual advisory sessions. Topics covered in the thirty minute individual advisory sessions include, but are not limited to:

  • Understanding the 403(b) provider and investment changes and how they may impact you
  • Retirement and general financial planning, and
  • Investment education and advice.

These one-on-one sessions are offered to you solely as a benefit; be assured that CAPTRUST’s role is not to sell you anything, but purely to help you make sound investment decisions. To schedule an appointment, click here.

 

Resources

Frequently Asked Questions

Final Investment Menu with Fees (Effective April 2017)

UCF 403(b) Investment Committee Roster

CAPTRUST Advice Desk

UCF 403(b) Vendor Contact Information