MCC Daily Tribune Archive

Important 403b Account Update: Hard Deadline for Changes November 30


Due to a new Multi-Vendor Coordinator Service through TIAA-CREF being launched in December, we will not be able to accept any SRA’s (Salary Reduction Agreements) for 403b account changes for 2013 past the open enrollment deadline of November 30, 2012. This deadline applies to the following accounts: TIAA CREF, FIDELITY, ING, METLIFE, OR VALIC. All changes made after that date will be required to be processed online and will take effect on the second payday of the new year, January 17th, 2013. 

Beginning December 21st, 2012, all 403b salary reductions and changes, and enrollments in the Optional Retirement Plan will be done on line through TIAA-CREF’s Multi-Vendor Coordinator Service.  There will be a blackout period from December 1st through December 20th, 2012 where no accounts can be opened or changes made either on paper or on line. 

TIAA CREF will be mailing letters to all employees who have 403b accounts during the last week in November, explaining this transition to on-line enrollment.   Human Resources will keep our employees apprised of the new on-line process through the Trib as we receive the information from TIAA-CREF. 

Those who need to make changes to their 403b accounts after November 30, 2012, will be able to do so on line beginning December 21, 2012.  Do not hesitate to contact Human Resources to assist you in this process.  Please feel free to call Karen Rheinheimer at Extension 2113 with any questions. 

IMPORTANT POINTS TO REMEMBER:

1.      If you need to make changes to your 403b account after November 30, 2012, you will be able to do so through an on-line process beginning December 21, 2012.  You will be receiving a letter from TIAA CREF about this process very soon.

2.      If you do not need to make any changes to your 403b account after the November 30th deadline, you do not need to take any action.

3.      Human Resources will be available to assist you during this transition process. 

Karen Rheinheimer
Human Resources
11/26/2012