Former University of California employees, including former student employees, who contributed to UC’s Defined Contribution Plan (DC Plan) and 403(b) Plan prior to July 1, 2005, may claim their funds by contacting the IRA custodian and/or the UC Retirement Administration Service Center.
The DC and 403(b) plans do not permit a participant with accumulations of less than $2,000 to remain in the plan after leaving UC employment. When UC converted recordkeeping services to Fidelity Retirement Services in July 2005, the university temporarily retained administration of accounts under $2,000 of participants who left UC employment before July 1, 2005.
In October 2008, those accounts whose value had increased to $2,000 or more were transferred to Union Bank, an IRA custodian, where they continue to be maintained for the benefit of the participants. Those accounts with a value under $2,000 as of October 2008 continue to be maintained by the University.
Former employees who think they may have unclaimed funds should contact the IRA custodian at Union Bank Retirement Plan Center (1-800-304-3854, option 1) for information. If the IRA custodian does not have an account for the former employee, he or she should contact the UC Retirement Administration Service Center at 800-888-8267 to determine if UC is holding any retirement savings funds on behalf of the former employee.
This notice does not apply to:
- Former employees who have already claimed their funds
- Current employees
- Former employees who have returned to UC employment
Fund balances for current employees are maintained at Fidelity Retirement Services. Any balances accrued before July 1, 2005 by former employees who have returned to UC employment have been transferred to the employee’s account at Fidelity.