1. This presentation is intended for
communication purposes only Please see the UCnet website
and plan documents for complete information.

2. 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.

3. 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

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

5. 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

6. 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
– log in required
Enroll at any time – NOT subject to PIE

7. 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”

9. 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

10. 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)
Questions go to RASC

11. 2016 Tier – UC Retirement Choice Program
Hired/rehired on or after July 1, (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%

12. 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)

13. Pension Example: Benefit Percentages
Retire at age 65 with 20 years of UCRP Service Credit
Pension Benefit = 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

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

16. 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

17. myucretirement.com