Retirement Savings Program – Processing of Flat Dollar vs. Percentage Deferral Elections

This communication serves as a reminder regarding the processing of employee deferral elections to the UC Retirement Savings Plans:

Flat Dollar Contributions
Flat dollar deferral amounts are applied only to regularly scheduled payroll cycles. These contributions will not be deducted from any off-cycle, special, or stand-alone paychecks.

Percentage-Based Contributions
Percentage-based deferrals are processed on all types of payrolls, including regular, off-cycle, and special paychecks.

To ensure transparency and employee awareness, this information has been incorporated into the NetBenefits.com (https://www.netbenefits.com) platform where employees make their deferral elections. Please refer to the screenshot below:

Additionally, employees may refer to the UCPath Knowledge database for more detailed guidance. The relevant article can be found by searching the following title: “How do I enroll in or change my retirement savings plan contribution amounts?”