This presentation is intended for communication purposes only. Please see the UCnet website http://ucnet.universityofcalifornia.edu and plan documents for complete information.

Preparing for a successful retirement is one of the biggest financial responsibilities you’ll face. UC offers a comprehensive array of retirement benefits, savings programs and educational and counseling resources to help you plan for retirement.

Getting Started with the UC Retirement System Cesar Cap Fidelity Retirement Planner Introduce you to UC Retirement System Show you where to find information and resources Explain when, where and how to enroll

New Employee Benefits Roadmap What are your retirement programs How to enroll Learn about retirement benefits What are your resources

Some plans are voluntary, others are mandatory UC Retirement System Retirement Savings Plans (403b, 457b, DCP) Defined Contribution Plan (DCP Safe Harbor) University of California Retirement Plans (UCRP) 2013 Tier 2016 Tier-Choice Program Some plans are voluntary, others are mandatory

Retirement Savings Plans - Voluntary Pre-tax savings programs Tax-Deferred 403(b) 457(b) Deferred Compensation Post-tax Defined Contribution Plan (DCP) Administered by Fidelity Maximum annual contribution limits You make investment choices https://www.myucretirement.com www.netbenefits.com – log in required Enroll at any time – NOT subject to PIE

Defined Contribution Plan (DCP Safe Harbor) Mandatory – Pre-Tax Defined Contribution Monthly pre-tax employee contributions of 7.5% (in lieu of paying Social Security taxes) Administered by Fidelity You make investment choices Contributions default to a UC-managed “UC Pathway Fund” https://www.myucretirement.com/

University of California Retirement Plans (UCRP) Mandatory for employees hired in an eligible UCRP position Two Plans 2013 Tier 2016 Tier-Choice Program Eligibility for a plan depends on: Position Date of hire Union membership

2013 Tier – UCRP Pension Employees hired before July 1, 2016 OR hired on or after July 1, 2016 and in a union that has not bargained the 2016 Tier Enrollment is automatic, no action needed Mandatory contributions 7% to 9% (subject to collective bargaining) https://www.myucretirement.com/ Questions go to RASC

2016 Tier – UC Retirement Choice Program Hired/rehired on or after July 1, 2016 (subject to collective bargaining) 90 days to make an election Pension Choice or Savings Choice (DCP) Retirement service credit and contributions start after you make election (subject to payroll deadlines) Mandatory contributions are 7% https://www.myucretirement.com/choose

2013 Tier & 2016 Tier Pension Choice Vesting = 5 years of UCRP Service Credit (100% full-time) Minimum age 55 Defined Benefit Plan: Age x Years of UCRP Service Credit x Highest Average Plan Compensation (HAPC) Coordination with Social Security Some unions have modifications to 2013 Tier (see summary plan descriptions for details)

Pension Example: Benefit Percentages Retire at age 65 with 20 years of UCRP Service Credit Pension Benefit = .5000 of HAPC Years of UCRP Service Credit Retirement Age 55 60 65 5 .0550 .0900 .1250 10 .1100 .1800 .2500 20 .2200 .3600 .5000 30 .3300 .5400 .7500 40 .4400 .7200 1.000

Retirement Guides Fidelity Retirement Planners Phone & email 2016 Tier Program Retirement Savings Programs General retirement planning UC Retirement Administration Service Center (RASC) Eligibility for retirement programs 2013 Tier Program

Resources and Tools Online UCnet (videos, Fact Sheet, SPDs, FAQs) myUCretirement.com Financial modeler (2016 Tier) Live webinars Print Decision Guide (2016 Tier) The Complete Guide to Your UC Retirement Benefits In-Person or by phone Fidelity Retirement Planner-led classes Fidelity One-on-one counseling onsite or by telephone RASC to clarify eligibility & 2013 Tier questions

myucretirement.com