TIAA-CREF 401(k) GSRA Open Enrollment Begins Today

TIAA-CREF 401(k) GSRA Open Enrollment Begins Today

On behalf of Rhonda Barbosa,
Attention All Regular and Term Employees:

 

The 401(k) Group Supplemental Retirement Annuity (GSRA) Open Enrollment for Calendar Year 2016 will be offered from December 8, 2015 through December 17, 2015.  All elections will be reflected in the January 15, 2016 paycheck. Human Resources will be providing web-based enrollment for your convenience.

 

To access the 401(k) GSRA enrollment link, go to the Lab's Insight page, under Announcements. Or you may follow this link: https://mis.jlab.org/mis/apps/hr/gsra_enrollment

DO YOU NEED TO ENROLL?

  • If you wish to contribute more or less than the 5% default contribution, or opt-out of this program, you must enter your preferences in the on-line system no later than close of business (5:00pm) on December 17.

WHAT HAPPENS IF YOU DO NOT ENROLL?

  • If you do not enter your preferences in the on-line system prior to close of business (5:00pm) on Thursday, December 17, you will automatically be enrolled in the default employee 5 % contribution plan that is based on your current salary. 

Important Updates:

2016 Annual Contribution Limits Remain Static:

  • Voluntary Employee Contribution - $18,000
  • Catch-Up Allowance (50+ years of age) an additional $6,000, totaling $24,000 maximum
  • Total annual maximum contribution from the employee and employer is $53,000

Safe Harbor Plan Participant Notice:

You can change your contribution amount any time during the year by submitting a new Salary Reduction Agreement form. These forms are located in the Human Resources Office in the SSC building.

If you have any questions, please contact Treva Ferguson (x7291).

Regards,
Human Resources