[UCRDBR] Retirement Savings Program - Return of Excess Plan Year 2022 Contributions

[Departmental Benefits Representatives]

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March 9, 2023

To:
Department Benefits Representatives
From:
Central HR Benefits Office on behalf of UC Office of the President
Re:
Retirement Savings Program - Return of Excess Plan Year 2022 Contributions

____________________________________________________________________________

DBRs: Please share this very important information via your internal department listserv.

The deadline to process and refund any 2022 excess participant contributions from the UC Tax-Deferred 403b and/or 457(b) Deferred Compensation Plan is Tuesday, April 18, 2023.  All properly submitted requests MUST be received by UC Retirement Savings Program by Monday, April 3, 2023 in order for Fidelity to meet the distribution deadline of Tuesday, April 18, 2023.

Any participant who has over-contributed (exceeded the IRS limits) to either Plan must submit a Return of Excess Contributions form<https://hr.ucr.edu/sites/default/files/2023-03/return_of_excess_fidelity_contributions_form.pdf> noting the specific Plan.  The form must be completed, signed, enclosed with explanation and any supporting documentation, i.e. W2s, and then submitted to UC Retirement Savings Program (RSP) for review, approval, and submittal to Fidelity for processing.  You may also contact Fidelity Retirement Services (1-866-682-7787) with any questions about completing the form. The form, along with any attachments, should be mailed or faxed (which is preferred for expedited processing and documentation of receipt by UCOP) to:

UC Retirement Savings Program
P.O. Box 24570
Oakland, CA 94623-1570

SECURE FAX:  1-510-291-9945

Please refer to the Summary Plan Document (SPD) at the link below for additional details regarding rules and regulations:

https://ucnet.universityofcalifornia.edu/compensation-and-benefits/retirement-benefits/ucrs/index.html
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