Monday, May 17, 2021

ATTENTION:  Principal Investigators & Regular-Status employees at 50-100% FTE

RCUH is now coordinating one-hour Individual/Employee Retirement (GRA/SRA) Plan Advisory Sessions with TIAA via virtual meetings May 18-20. Regardless of your current status – whether you are a long-time employee, just hired, or somewhere in between – it is never too early or too late to consider retirement planning. During these personalized sessions, you will be able to discuss your personal financial/retirement goals with a TIAA Financial Consultant on a free and confidential basis.

Because these sessions are being held during normal business hours, all employees must notify their PIs and supervisors if they would like to attend. We encourage Principal Investigators to allow their employees to attend the TIAA Advisory Sessions, if requested. 

For employees unfamiliar with the SRA (Supplemental Retirement Annuity) plan, please note that unlike the GRA (Group Retirement Annuity) plan, there is no 12-month waiting period and you may enroll or make changes to your election at any time during the year. The SRA plan with TIAA is considered a 403(b) tax-deferred annuity plan which allows an employee to make contributions via payroll deduction from his/her pre-tax earnings over and above the amount being accumulated under the RCUH basic retirement plan (GRA). 

For more information about the GRA and SRA plans, please review Policy 3.560 RCUH Retirement Plans.

We have reserved the following dates and times for individual sessions:

Dates	Location
Tuesday, May 18	Virtual
Wednesday, May 19	Virtual
Thursday, May 20	Virtual

https://shared.tiaa.org/public/publictools/events/meetingAndSeminar?employerId=1-8RJV-16

If you have questions or are unable to schedule an appointment online, please call TIAA’s Service and Scheduling Group at (800) 732-8353 Mon-Fri 6am – 3pm Hawaiʻi Standard Time.

Relevant Forms and Documents:
TIAA-SRA Supplemental Retirement Annuity – Agreement for Salary Reduction Form (B-6)

Meetings are accessible for individuals with disabilities.  Individuals who require special needs accommodations may request assistance in writing to [email protected] prior to the scheduled meeting.

Future TIAA Individual Advisory Session Dates and Locations for CY 2021*:

TBD

Monday, April 19, 2021

ATTENTION:  Principal Investigators & Regular-Status employees at 50-100% FTE

RCUH is now coordinating one-hour Individual/Employee Retirement (GRA/SRA) Plan Advisory Sessions with TIAA via virtual meetings April 27-29. Regardless of your current status – whether you are a long-time employee, just hired, or somewhere in between – it is never too early or too late to consider retirement planning. During these personalized sessions, you will be able to discuss your personal financial/retirement goals with a TIAA Financial Consultant on a free and confidential basis.

Because these sessions are being held during normal business hours, all employees must notify their PIs and supervisors if they would like to attend. We encourage Principal Investigators to allow their employees to attend the TIAA Advisory Sessions, if requested. 

For employees unfamiliar with the SRA (Supplemental Retirement Annuity) plan, please note that unlike the GRA (Group Retirement Annuity) plan, there is no 12-month waiting period and you may enroll or make changes to your election at any time during the year. The SRA plan with TIAA is considered a 403(b) tax-deferred annuity plan which allows an employee to make contributions via payroll deduction from his/her pre-tax earnings over and above the amount being accumulated under the RCUH basic retirement plan (GRA). 

For more information about the GRA and SRA plans, please review Policy 3.560 RCUH Retirement Plans.

We have reserved the following dates and times for individual sessions:

Dates	Location
Tuesday, April 27	Virtual
Wednesday, April 28	Virtual
Thursday, April 29	Virtual

https://shared.tiaa.org/public/publictools/events/meetingAndSeminar?employerId=1-8RJV-16

If you have questions or are unable to schedule an appointment online, please call TIAA’s Service and Scheduling Group at (800) 732-8353 Mon-Fri 6am – 3pm Hawaiʻi Standard Time.

Relevant Forms and Documents:
TIAA-SRA Supplemental Retirement Annuity – Agreement for Salary Reduction Form (B-6)

Meetings are accessible for individuals with disabilities.  Individuals who require special needs accommodations may request assistance in writing to [email protected] prior to the scheduled meeting.

Future TIAA Individual Advisory Session Dates and Locations for CY 2021*:

TBD

TO:     All RCUH Regular Status (50-100% FTE) who are currently active and enrolled in Flexible Spending Plan Accounts for Plan Year July 1, 2020 – June 30, 2021

The American Rescue Plan Act of 2021 (ARPA) and the Consolidated Appropriations Act, 2021 (CAA) provides for changes to the Health FSA and Dependent Care FSA plans respectively. The RCUH has implemented applicable changes to our Flexible Spending Account (FSA) Plans:

1. Dependent Care FSA increase in contribution limit up through December 31, 2021: Maximum contributions limits increased to $10,500 (single taxpayer or married couples filing jointly) or $5,250 (married couples filing separately) for tax year 2021 (up through December 31, 2021).
2. Health FSA and Dependent Care FSA Change to Use-It or Lose-It deadlines and Roll-Over allowances: One-time unlimited allowance of carryover of unused funds from plan year July 1, 2020 – June 30, 2021 to July 1, 2021 – June 30, 2022. Carryover of funds from the 2020-21 plan year to the 2021-22 plan year will happen automatically if the following two conditions are applicable to your situation: 
   1. Employee has an unused balance in their Health FSA plan and/or Dependent Care FSA plan as of June 30, 2021 AND
   2. Employee re-enrolls in the respective FSA plan during the upcoming Open Enrollment period (coming soon – May 3-14, 2021). There is a contribution minimum of $1 per pay period for the Dependent Care FSA.

Plan Year (e.g., June 30, 2021) Use-It or Lose-It still applies If you do not meet condition b) above.  The standard “Use-It or Lose-It” provisions will apply if you do not re-enroll in the RCUH’s Health FSA and/or Dependent Care FSA for next plan year (commencing July 1, 2021).  All unused Health FSA and/or Dependent Care FSA will expire and be forfeited effective June 30, 2021.  To avoid forfeiting funds, all services must be incurred by June 30, 2021. 

If you experience a loss of eligibility, due to a change in your employment status (i.e., FTE drops below 50% or termination of employment) prior to June 30, 2021, you have up until the end of the month in which your employment status changed to incur services eligible for reimbursement.

You have ninety (90) days after June 30, 2021 to claim/submit reimbursements (for services incurred before or on June 30, 2021) for the plan year July 1, 2020 through June 30, 2021 via the NBS Mobile App or completing the NBS reimbursement form and submitting it along with all copies of your receipt(s) and required documentation (attach only PDF, TIFF or JPEG formats) directly to National Benefit Services (NBS) via fax (844) 438‐1496), mail (National Benefit Services, LLC P.O. Box 6980, West Jordan, UT 84084), or email ([email protected]).  

If you have any questions or need further assistance in filing for a reimbursement or check on the status of a pending reimbursement, please call (800) 274-0503 ext. 502 or download the forms from the NBS website.

FSA Store:

For those with Healthcare Expense Reimbursement Accounts, be sure to utilize the FSA store for more information on what products can be purchased at a store near you. 

Important Notice for Health and Dependent Care FSA Plans – Re-Enrollment during 2021 Open Enrollment Period:  If you wish to participate in the Health FSA and/or Dependent Care FSA Plan(s) for the upcoming plan year commencing July 1, 2021 through June 30, 2022; you MUST RE-ENROLL for these benefits in the upcoming Open Enrollment Period (May 3-14, 2021). These benefits will not automatically continue into the new plan year.

Parking and Transportation Reimbursement accounts do not require re-enrollment and will automatically continue until you cancel.

If you have any questions or concerns, please contact the RCUH Employee Benefits Section at [email protected] or (808) 956-2326 or (808) 956-6979.

Attachments:

NBS Login Web Portal: First Time Login Instructions

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