[UCRDBR] Retirement Savings Program - Purchase window for Deferred Lifetime Income open from 09-03-2024 to 09-25-2024

[Departmental Benefits Representatives]

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August 26, 2024

To:
Department Benefits Representatives (DBRs)
From:
HR Central Benefits Office on behalf of UC Office of the President
Re:
Retirement Savings Program - Purchase window for Deferred Lifetime Income open from 09-03-2024 to 09-25-2024

DBRs, please share this information via your internal listserv. Do not reply to this email.  Please send a separate email with questions to benefits at ucr.edu<mailto:benefits at ucr.edu>.

In 2021, UC introduced an enhancement to the Retirement Savings Program's Pathway Funds: Deferred Lifetime Income (DLI). This optional deferred income annuity lets participants convert a portion of their UC 403(b), 457(b), or DC Plan balance into fixed monthly payments beginning at age 78, when they may need it most.

This year's purchase window is open from September 3 through September 25, 2024. Retirement Savings Program participants between the ages of 62 and 69 who meet other criteria<https://myucretirement.com/Resource/2302> are eligible to purchase DLI.

Deferred Lifetime Income communication materials were sent to eligible participants in August 2024. To learn more, participants can attend a webcast<https://fmr.zoom.us/webinar/register/WN_x6O3nEu8SOC7mSyn-fpuVg#/registration> on Wednesday, August 28, 2024, at 12:00 PM, Pacific Time.  Please visit myUCretirement.com<https://myucretirement.com/income> for a tutorial, DLI income estimator and video from UC's Chief Investment Officer Jagdeep Singh Bachher.

Participants may contact Fidelity at 1-800-558-9182 with any questions about Deferred Lifetime Income.


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