[All_staff] Reminder: 2017 TIAA-CREF 401K Open Enrollment Ends Today

[Krystina Serafini]

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








The 401(k) Group Supplemental Retirement Annuity (GSRA) Open enrollment for Calendar Year 2017 will end today, December 9, 2016, at 5:00pm. All elections will be reflected in the January 13, 2017, paycheck. Web-based enrollment is offered 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://misportal.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 the on-line system no later than close of business (5:00pm) today, December 9. 



WHAT HAPPENS IF YOU DO NOT ENROLL? 

    * If you do not enter the on-line system prior to close of business (5:00pm) today, December 9 you will automatically be enrolled in the default employee 5 % contribution plan that is based on your current salary. 



Important Updates : 




2017 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 



Participant Loan Provisions will change as of January 1, 2017: 

    * Effective, January 1, 2017, the TIAA-CEF 401(k) loan policy has been amended. The most significant amendment is highlighted below: 
    * Participant may have no more than 3 loans outstanding at one time and no more than 1 loan may be issued in any rolling 12-month period. 
    * Please review the attached new participant loan policy for full details. 



Safe Harbor Plan Participant Notice and 2015 Summary Annual Report: 


    * Jefferson Lab is required to provide you with the 401(k) Safe Harbor non-elective contribution arrangement and the 2015 Summary Annual Report which describes plan related rules along with the plan financial statement. 
    * Please review the attached Safe Harbor Notice and the Summary Annual Report 



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 questions, please contact Treva Ferguson (x 7291). 






Regards, 

Rhonda Barbosa 

Human Resources 




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