Important Changes to the MUS Retirement Plans Coming February 1 - Employee Forum
- Thursday, December 7, 2017 from 10:30am to 12:00pm
- Strand Union Building, Ballroom B - view map
MUS is committed to providing competitive employee retirement benefits, and is pleased to announce several changes to the Montana University System (MUS) Retirement Plans, effective February 1, 2018. Please join us in the first of several open forums.
What is Happening?MUS and Meketa Investment Group, Inc. have assessed the best possible investments and services for the MUS retirement plans. Enhancements coming to the 401(a) – the MUS Retirement Plan MUSRP and403(b) – optional plans elected by employees. Including: Consolidation of the 403(b) investment providers to one service provider, TIAA, and a new streamlined investment menu that will include options from a variety of well-known investment firms.
The changes offer a more robust array of investment options so more of our employees’ retirement money keeps working for them:•Lower costs•Capitalize on trends and changes in the retirement services industry•Simplify administrative functions and participant experience
When?Effective February 1, 2018 (beginning with retirement contributions in the February 2018 payroll)
Am I affected by the changes?If you have a 401(a) or a 403(b) retirement plan the changes apply to you. Not every employee is affected.
What do I do?If affected, you will be able to select from the new investment options during an open election period beginning in January. In early January, you will receive a Transition Guide with detailed information on the investment options and next steps.Please look for and pay attention to email, mailings, and announcements.
- Human Resources