Delayed: ARP and 403(b) plan changes
Changes delayed for the Alternative Retirement Plan (ARP) and 403(b) program
As we have shared in prior communications, UC along with many other Ohio public universities, announced changes to its Alternative Retirement Plan (ARP) and 403(b) plans that were to be effective July 1, 2020.
The ARP is an offered alternative to the state retirement system (OPERS/STRS), and the university’s 403(b) is available for supplemental retirement plan savings. Changes to the ARP and the 403(b) include reducing the number of approved vendors in order to reduce plan and investment expenses as well as streamlining investment options so that enrollees can better create diversified investment portfolios and track fees.
However, given current market conditions along with concerns associated with COVID-19, we will delay implementing these changes. Delaying the implementation will allow us to reschedule the previously planned face-to-face town hall sessions. A delay will also allow affected employees future opportunities to schedule face-to-face appointments with their chosen vendors to discuss new plan investment options, etc. Such face-to-face scenarios are not possible in today’s environment.
Once a future implementation date is chosen, faculty and staff will be notified.
Questions?
Email the UC Benefits team at benefits@uc.edu.
Related Stories
University of Cincinnati celebrates DAAP's class of 2024:...
April 27, 2024
Discover the achievements of the University of Cincinnati's College of Design, Architecture, Art, and Planning's Class of 2024 as they graduate into the alumni family, showcasing exceptional talent and innovation. From prestigious awards to prominent job offers, these graduates exemplify the transformative power of creativity and dedication in shaping tomorrow's leaders.
Ancient Maya blessed their ballcourts
April 26, 2024
Using environmental DNA analysis, researchers identified a collection of plants used in ceremonial rituals in the ancient Maya city of Yaxnohcah. The plants, known for their religious associations and medicinal properties, were discovered beneath a plaza floor upon which a ballcourt was built, suggesting the building might have been blessed or consecrated during construction.
OTR mural centerpiece of 'big' celebration of UC alumni
April 26, 2024
New downtown artwork salutes 18 alumni award recipients who personify UC’s alumni success.