Your contributions to the 403(b), 457(b) and/or DC Plans stop with your last (non-exempt) paycheck. If your balance in a plan is at least $2,000, you can keep your money in the plan and continue to take advantage of the benefits of UC’s Retirement Savings Program.
If you have less than $2,000 in a plan when you leave UC employment, you may no longer keep the money in the UC Retirement Savings Program. Plan balances may not be combined to meet the $2,000 minimum balance requirement. If you do not make arrangements for a distribution, your accumulation will be either:
- Rolled over to an IRA custodian in an account maintained for you, if your balance is more than $1,000.
- Paid directly to you at your address of record, if your balance is $1,000 or less. There may be tax penalties. See Fidelity Retirement Services for more information.