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Retirement Corner

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The New UT Retirement Fund Lineup Is Almost Here

On November 15, 2011, the University of Texas System will introduce a new and improved offering of mutual fund and annuity products for the UT Optional Retirement Program (ORP), UTSaver Tax Sheltered Annuity (TSA) and the UTSaver Deferred Compensation Plan (DCP). 

The UT System worked in close partnership with the UTRetirement Program Providers to develop a line-up of best-of-class funds in each appropriate investment category.  Our goal was to ensure each employee has an opportunity to build a meaningful investment portfolio, while at the same time eliminating the redundancies of multiple funds in individual share classes.  In addition to providing an improved, more efficient fund line up, this change will also reduce the paralysis caused by what was previously an overwhelming number of investment options.

What does this mean for you?

 If you are currently invested in any of the funds that will no longer be available,  your current assets will remain in the those funds, but your future contributions will be directed to the remaining  funds most closely aligned to the investment objectives of the discontinued fund.   If you wish to transfer your existing account balance to another fund that will be available through the UT Retirement Program or select a different fund for future contributions, you may do so. Additionally, some providers offer a Self-Directed Brokerage Account (SDBA) which allows you to invest in funds that are not otherwise offered on the core fund line up for an additional fee.

Information regarding specific fund offerings was mailed to you at the end of September.  If you have any questions regarding your investment options, please do not hesitate to contact your provider. 

IRS Announces Plan Limits for 2012

The Internal Revenue Service announced cost of living adjustments that will affect the limits available to you under the UTSaver Retirement Programs.

Effective January 2012, participants will be able to contribute up to $17,000 to both the UTSaver 403(b) Tax Sheltered Annuity (TSA) and the UTSaver 457(b) Deferred Compensation plan (DCP), an increase of $500.00 annually. 

The age 50 catch up remains unchanged at $5,500.00, meaning participants over age fifty can contribute up to $22,500 in both the UTSaver TSA and the UTSaver DCP.

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