HR Consultant/ Benefits Manager
The University of North Carolina (UNC) sponsors various retirement programs (The UNC Optional Retirement Program ("ORP"), and the UNC 403(B) Plan), which provide you the opportunity to save for your financial future. The University continuously strives to improve these programs to help ensure that you reach your retirement savings goals. That's why we are excited to announce important upcoming changes to these programs - changes we believe will make saving for your future simpler and more rewarding!
Effective July 1, 2014, there are two important changes:
1) The fund lineup for Fidelity and TIAA-CREF will change to a four-tier structure. The four new tiers are:
Tier 1 - Target Date Funds
Tier 2 - UNC Risk-Based Models
Tier 3 - Core Lineup
Tier 4 - Self-Directed Brokerage (Mutual Fund Window for employee-only contributions)
2) Two of the ORP's current investment carriers - VALIC and the Lincoln Financial Group - will no longer be available to new participants in the ORP.* Current ORP participants who hold investments with these two carriers will have until the end of the year to change their future investment elections and reallocate their existing account balances to either TIAA-CREF or Fidelity. Contributions to VALIC and the Lincoln Financial Group funds may continue through December 31, 2014 for current participants.