Important Information regarding a new Retirement Enrollment and Management System to launch February 25, 2013
Due to a new Multi-Vendor Coordinator Service being rolled out through a joint effort with SUNY and TIAA-CREF on February 25, there will be a “quiet period” coming up between February 8 and February 25 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 February 25, 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.
TIAA CREF 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 February 8, 2013, you will be able to do so through an on-line process beginning February 25, 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 February 8, 2013, will also be able to do so on line beginning February 25, 2013.
3. Human Resources will be available to assist you during this transition process.
Karen Rheinheimer
Human Resources
02/01/2013 |