UC Blue Logo
What are you looking for?

Second choice window for Savings Choice participants

The “second choice window” is an extended opportunity for Savings Choice participants to switch prospectively from Savings Choice to Pension Choice, and become members of the UC Retirement Plan (UCRP). This is a big decision, so UC is allowing plenty of time for you to attend an educational webinar and discuss your options with a Fidelity Workplace Financial Consultant and/or your personal financial advisor.

The second choice window opens on Jan. 1 of the fifth anniversary of the calendar year in which you made your initial election and extends through May 31 five years later (as long as you are still an active employee when you submit your election). For example, if you elected Savings Choice at any point in 2019, your second choice window opens on Jan. 1, 2024, and closes on May 31, 2029. If you elected Savings Choice at any point in 2020, your second choice window opens on Jan. 1, 2025, and closes on May 31, 2030.

Enrollment in Pension Choice cannot be revoked. Whether you select Pension Choice, are enrolled in Pension Choice after 90 days, or switch to Pension Choice during your second choice window, you may not change your participation from Pension Choice to Savings Choice.

Understanding your choice

A switch from Savings Choice to Pension Choice is a change in the primary retirement benefits you will contribute to going forward; it is not retroactive. 

If you switch to Pension Choice:

  • You will remain in the pension plan for the remainder of your career, even if you separate from UC and return to another eligible position later. Participants in Pension Choice may not switch to Savings Choice.
  • Your Savings Choice account balance will remain yours. On the date the change takes effect, contributions (from you and UC) to your Savings Choice account will stop, and contributions to UCRP will begin.
  • The service credit you earned as a participant in Savings Choice:
    • Will count toward vesting in UCRP and the supplemental DC Plan account, if eligible, and toward your retiree health benefits.
    • Will not count as UCRP service credit toward the calculation of your pension benefit. Please see “How will a switch affect my retirement benefits?” under Frequently Asked Questions.

Your move from Savings Choice to Pension Choice will be effective the next plan year (which begins on July 1), depending on when you submit your election. For example, if your form is received on or before May 31, 2024, the change will be effective on July 1, 2024. If your form is received on or after June 1, 2024, your election will be effective July 1, 2025.

Second Choice webinars

In a series of live webinars, UC’s Retirement Policy group reviews the Second Choice window in full detail, including:

  • What and when is the Second Choice Window
  • Who can elect a Second Choice and how
  • What resources are available for Second Choice
  • The date on which a Second Choice election becomes effective
  • Eligibility for Pension Choice benefits
  • The impact of Savings Choice service time on vesting under Pension Choice

Register for a Second Choice webinar.

What you need to do

No action is required if you decide to continue participating in the defined contribution option. If you do not submit an election, you will remain a Savings Choice participant.

If you decide to switch your primary retirement benefits to Pension Choice, you may submit your election either:

Consider your decision carefully. As soon as your enrollment form has been submitted, your decision to switch to Pension Choice cannot be revoked. Enrollment in Pension Choice is permanent. 

Frequently asked questions