Posted 2:07 p.m. Saturday, Sept. 11, 2021
UW System is making changes to enhance the 403(b) Program, the University's supplemental retirement savings plan.
UW System is making changes to enhance the 403(b) Program, the University's supplemental retirement savings plan.
Updates to the program focus on cost-effectiveness, simplification, and ease of use for 403(b) participants. UW System's goal is to make it easier for participants to enroll, select investments, and monitor investment performance on an ongoing basis.
Along with upcoming changes, the 403(b) program has been rebranded to the University of Wisconsin 403(b) Supplemental Retirement Program, or UW 403(b) SRP, from the UW Tax-Sheltered Annuity (TSA) 403(b) Program. You will see the name change reflected by the providers (also known as recordkeepers) and on relevant materials and web pages in the coming weeks.
Beginning January 1, 2022, the UW 403(b) Program will see enhancements to the recordkeepers and the investment line-up. After a formal review, the recordkeepers that will remain active in the program are TIAA and Fidelity. Both TIAA and Fidelity will offer virtually the same 18 best-in-class investment fund options and a self-directed brokerage window.
If you are a current participant in the program or enroll in the next few months, you may need to take action this fall. Current participants will receive more information soon.
How You Can Learn More
Bookmark the 403(b) Program Enhancements web page to stay up-to-date on deadlines and actions you may need to take and for these resources:
- UW 403(b) SRP investment options
- FAQs
- Upcoming Online Town Hall Meetings
