[UCRDBR] Retirement Savings Program - Return of Excess Contributions for 2023 Plan Year

[Departmental Benefits Representatives]

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March 8, 2024

To:
Department Benefits Representatives (DBRs)
From:
Central HR Benefits Office on behalf of Workplace Health and Wellness
Re:
Retirement Savings Program - Return of Excess Contributions for 2023 Plan Year

DBRs, please share this information via your internal listserv.

The deadline to process and refund 2023 excess contributions to participants from the UC Tax-Deferred 403b and/or 457(b) Deferred Compensation Plan is Monday, April 15, 2024.

The properly submitted request MUST be received by UC Retirement Savings Program by Monday, April 1, 2024 in order for Fidelity to meet the distribution deadline of Monday, April 15, 2024.

Any participant who has over-contributed (exceeded the IRS limits) to either Plan must complete a Return of Excess Contribution form<https://hr.ucr.edu/sites/default/files/2024-03/return-of-excess-contributions-form.pdf>  noting the specific Plan or contact Fidelity Investments at 1-866-682-7787 to request a Return of Excess Contribution form<https://hr.ucr.edu/sites/default/files/2024-03/return-of-excess-contributions-form.pdf>.  The form must be fully completed, signed, enclosed with explanation and any supporting documentation, (i.e. W2 form), and then submitted to the UC Retirement Savings Program (RSP) for review, 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

SECURE FAX:  1-510-291-9945

Please refer to the Summary Plan Document for additional details regarding rules and regulations at this link:

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


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