[UCRDBR] Retirement Savings Plan – Return of Excess Contributions – 2020

[Departmental Benefits Representatives]

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February 25, 2021

To:          Department Benefits Representatives (DBRs)
From:      HR Benefits Office on behalf of the Retirement Administration Service Center
Re:          Retirement Savings Plan – Return of Excess Contributions – 2020
On behalf of the Retirement Administration Service Center (RASC), the HR Benefits Office would like to share information on the Return of Excess Contributions for 2020.

April 15, 2021 is the deadline to process and refund any 2020 excess contributions to a participant from their UC Fidelity Investments Tax-Deferred 403b and/or 457(b) Deferred Compensation Plan. The UC Retirement Savings Program must receive the properly submitted request by April 1, 2021 in order for Fidelity Investments to meet the distribution deadline of April 15, 2021.

Any participant who may have over–contributed (exceeded the IRS limits) to either Plan must contact Fidelity Retirement Services at (866) 682-7787 and request a Return of Excess Contribution form<https://hr.ucr.edu/sites/g/files/rcwecm656/files/2021-02/return-of-excess-contribution-fidelity.pdf> noting the specific Plan. The form must be completed, signed, enclosed with explanation and any supporting documentation, and then submitted to the UC Retirement Savings Program (RSP) for approval and submittal to Fidelity for processing. The form, along with any attachments, should be mailed or faxed (preferred) to:

UC Retirement Savings Program
P.O. Box 24570
Oakland, CA 94623-1570
Fax: (510) 291-9945

Please visit the Voluntary UC Retirement Savings Program webpage<https://ucnet.universityofcalifornia.edu/compensation-and-benefits/retirement-benefits/ucrs/index.html> and refer to the Summary Plan Description for additional details regarding rules and regulations.

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