SUNY and TIAA-CREF are working with MCC on a new on-line Multi-Vendor Coordinator Service which was set to begin on February 25th, 2013, but has been delayed. It is now rescheduled to launch on April 22nd, 2013. Due to this migration, there will be a “quiet period” coming up between April 8 and April 22 in which MCC will not be able to accept any SRAs (Salary Reduction Agreements) for 403b account changes or any enrollments into the Optional Retirement Plan. This applies to the following accounts: TIAA CREF, FIDELITY, ING, METLIFE, OR VALIC.
Beginning April 22, 2013, 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.
SUNY will be mailing letters to all employees who have these accounts explaining this transition to on-line enrollment. Human Resources will keep our employees apprised of the new on-line process as we receive the information from SUNY and TIAA-CREF.
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 April 8, 2013, you will be able to do so through an on-line process beginning April 22, 2013. You will be receiving a letter from SUNY and TIAA CREF about this process very soon.
2. Employees who want to sign up for the Optional Retirement Plan after April 8, 2013, will also be able to do so on line beginning April 22, 2013.
3. Human Resources will be available to assist you during this transition process.
The Human Resources Team