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UCF Human Resources Benefits Section
407.823.2771
UCF Employee Benefits
Open Enrollment (for 2017 Plan Year)&
Upcoming 403(b) Plan Changes
Monday, October 17Open Enrollment
Begins
Friday, November 46:00 p.m. EST
Open Enrollment Ends
January 1, 2017Coverage Effective
Date
Monday, October 3through
Friday, October 14Open Enrollment
Packages Mailed by People First to Eligible
Employees
Important Dates
2017 Plan Year Updates
• Minnesota Life is now Securian
• CIGNA Dental Rate Changes
• CIGNA Hospitalization Rate Changes– Premium determined by single vs. family coverage and age
Coverage Level Old Premium New PremiumEmployee Only $29.43 $24.01Employee + Spouse $52.91 $47.31Employee + Child(ren) $62.26 $56.41Family $75.53 $72.06
Onlinehttps://peoplefirst.myflorida.comUser ID and Password Required
-Or-
Service Center1-866-663-4735
Available Monday-Friday 8:00am to 6:00pm ET
Using People First to Enroll
Additional Open Enrollment Reminders
• If your address is not correct in the People First website, you will not receive your Open Enrollment packet in the mail from People First.
• You will need your People First ID to enroll online. If you do not have your People First ID, contact the People First Service Center.
• If you already have Optional Group Term Life coverage through Minnesota Life, you may increase your existing coverage by one level of annual earnings during Open Enrollment, or following a qualified status change, up to the lesser of five times annual salary or $500,000 on a guaranteed issue basis.
2016 UCF Benefits FairFriday, October 28th
9:00 a.m. to 2:00 p.m.Student Union Pegasus Ballroom
• Insurance, Retirement and other vendors will be available• Learn about the many insurance options available to eligible employees to make
the best choices during Open Enrollment• Flu Shots, Massage Therapy, CPR Instruction, Cooking Demos & Blood Drive• Prize Raffles
Upcoming UCF 403(b) Plan Changes
Recap: UCF Retirement PlansMandatory Retirement Plans FRS Pension Plan
Eligible: A&P, Faculty & USPS
FRS Investment PlanEligible: A&P, Faculty & USPS
State University System Optional Retirement Program (ORP)Eligible: A&P and Faculty
FICA Alternative Plan (FAPLAN)Mandatory: Post-Doctoral Associates, OPS Non-Students, Adjunct Faculty and Medical Residents
Voluntary Retirement Plans 457 Plan (through Bureau of Deferred Compensation)
Eligible: All Employees
403(b) Plan (Pre & Post Tax)Eligible: All Employees
CHANGES ARE COMING!
UCF 403(b) Plan Changes
Vendor Consolidation• Fidelity, TIAA and VALIC will become the only three vendors for
future contributions, effective April 21st 2017
A reduction in the number of investment funds• 22 fund options effective April 21st 2017
Reduction in investment fees for Fidelity, TIAA and VALIC, effective April 21st 2017
Benefits of UCF 403(b) Plan Changes
Simplified Options
Reduction of fees will improve rate of return
Services available through
Benefits Fair: Friday, October 28th
• CAPTRUST, Retirement Vendors, and Benefits Staff available for questions regarding transition
Transition Guides: Mailed January-March 2017• Will have detailed information about managing the changes,
how to open and transfer accounts, etc.
UCF 403(b) Plan Transition Assistance
Open Enrollment Website https://hr.ucf.edu/current-employees/benefits/open-enrollment/
Detailed Benefits Orientation Presentationhttps://hr.ucf.edu/files/NEOBenefitsSection.pptx
How to Enroll in People First Websitehttp://hr.ucf.edu/files/PeopleFirstOnlineReview.pdf
UCF 403(b) Plan Changes Websitehttps://hr.ucf.edu/ucf-403b-plan-changes/
The UCF Human Resources Benefits department offers an insurance and retirement enrollment lab to assist employees in completing their insurance and retirement enrollments.
During these one-on-one sessions, key features of the benefits plans can be compared and issues can be addressed, which need to be considered when making election decisions.
The sessions are available by appointment only. To make an appointment, please call or email the UCF Benefits department: Call: (407) 823-2771 Email: [email protected]