Monday, June 27 2016
TO: Department Benefit Representatives (DBRs)
FR: Lisa Romero
Benefits Manager
Human Resources/Benefits
RE: DBR Training: New Retirement Program for future employees, effective July 1, 2016
As you know, The University of California Board of Regents approved a new retirement program for future UC employees hired on or after July 1, 2016. The new retirement program called UC Retirement Choice Program offers eligible staff and faculty a choice of 2 options: Pension Choice or Savings Choice.
The new design and timelines for the Retirement Choice Program are a departure from our current retirement programs. Eligible new employees will have 90 days to elect a retirement program. The employees will NOT be earning retirement service credit or receiving contributions to their savings program until they make an election that is subject to payroll deadlines. Therefore, timeliness of entering appointments correctly in our payroll system will be imperative.
In addition, Fidelity will be responsible for the counseling on the choice programs. It is important as a department benefit representative to understand the new roles and responsibilities for you, HR/Benefits, RASC and our Fidelity partners.
Please join me and Cesar Cap, our Fidelity Retirement Planner, for a one hour training on the basic concepts of the Retirement Choice Program, what the operational process will be, resources available to employees and what we can anticipate to be their election experience.
Training will be held in the Human Resources Learning Center (SAASB 3101DD). Please attend one of the following 1 hour sessions:
July 7th - 9:15 or 11:00
July 8th - 9:15
July 19th - 3:00
August 2nd - 3:00
Questions regarding this training can be directed to Lisa Romero at 805-893-5163
How to register:
Please register for the training in the UC Learning Center at: https://learningcenter.ucsb.edu and search for 2016 UCRP.
Questions regarding enrolling for the training on the Learning Management System can be directed to Becky Aher at 805-893-3482