News and Insights

Spring 2023

Asset allocation is key to navigating market ups and downs
A UC-dedicated Workplace Financial Consultant can help you make sure your asset mix is on track and meeting your needs.

Contribution limits for the UC 403(b) and 457(b) Plans have increased

In 2023, pretax contributions to the 403(b) Plan and the 457(b) Plan increased from $20,500 to $22,500 per plan. If you’re over age 50, you can continue contributing an additional $7,500 per plan. Consider the new limits in your planning for the year and learn more about ways to make the most of your UC Retirement Savings Program.

Good news! Fee for administrative services has been reduced…again

The UC Retirement Savings Program reduced the fee for administrative services effective January 1, 2023, from $8.25 per quarter to $7.75 per quarter. Learn more about what the fee covers and when the lower fee will be deducted from your account.

Minimum Required Distribution (MRD) for tax-deferred retirement plans has changed

The yearly mandatory withdrawal from tax-deferred retirement plans, such as the UC 403(b), 457(b), and DC Plan has changed from 72 to 73, effective January 1, 2023. Check out these frequently asked questions to learn more about MRDs, how to calculate them and how MRDs are taxed.