Future Focus, Your Retirement Planning Resource

What’s in this Issue?

• Fund Performance Summary
• Maximize Your Tax Savings!
• Maintain the Balance Act: Review your current retirement contributions
• Ready to Enroll or Increase Your Contribution Amount?
• “Grandfathered” Providers Update

Fund Performance Summary

The University of Texas Retirement Programs offers numerous investment options, and the Performance Summary allows for an easy comparison of those options. 

View the First Quarter 2007 Fund Performance Summary at: www.utretirement.utsystem.edu/Performance.html

Maximize Your Tax Savings!

Did you owe money this April?  Your UT Retirement Programs could help!

Begin contributing or increase your current contributions to your UTSaver Traditional 403(b) Tax Sheltered Annuity (TSA) and/or your UTSaver 457(b) Deferred Compensation Plan (DCP). In these plans, your contributions come from your salary before taxes are taken out, which reduces your tax bill while helping you save for retirement.

Get started today by visiting www.utretirement.utsystem.edu or calling your local benefits office.

Maintain the Balance Act: Review your current retirement contributions

If you’ve been investing in the financial markets for several years, you’re well aware that the values of your investments go up and down. Change in the financial markets and change in your personal life may make it necessary to review your current investment options. Review your strategy and portfolio on a regular basis to see if you need to make changes, or after major life events including:

• Marriage: You’ll need to coordinate your investment strategies with those of your spouse.
• Birth (or Adoption) of a Child: This can reduce the money you have for investing and can result in changes in your time horizon and/or your financial goals.
• A Job Change: This can alter the amount you’re able to set aside to invest, and the investment choices available under your new retirement plan.
• Preparing for Retirement: You may want to adjust your portfolio to protect assets from volatility and loss.

All of the UTRetirement Program’s providers are available to assist you with defining your goals and developing a plan to reach those goals. For more information on your UTRetirement Program providers please visit our website at: www.utretirement.utsystem.edu/Providers.html.

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Ready to Enroll or Increase Your Contribution Amount?

Now that you know what you want to do, how do you actually do it?  UTRetirement Manager is a secure website that is available 24 hours a day, 7 days a week.

Enrolling for the first time? Follow these simple steps:

1. Select the retirement plan you wish to contribute to. If you are unsure about which plan to choose please see the Retirement Programs at a Glance found at www.utretirement.utsystem.edu/VoluntaryRetirement.html.
2. Log onto UTRetirement Manager at https://www.aigretco.com/RetireMan/.
3. Click on the Enroll/Make Changes Tab (For the UTSaver TSA, you should contact your Benefits Office for a calculation of your contribution limit).
4. Follow the instructions on the Enroll/Change screen.
5. Choose a Provider from the list of approved Providers and follow their enrollment instructions to set up an account. The approved providers can be found at: www.utretirement.utsystem.edu/Providers.html.
6. Complete applications and beneficiary forms and return those directly to the Provider before contributions are deducted from your paycheck.

First time to use UTRetirement Manager?

Select “I’m a new user” in the upper right corner of UTRetirement Manager.

Forgot your user ID for UTRetirement Manager?

Go to www.utretirement.utsystem.edu/Enroll.html and select “Click here for help with your USER ID.”

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“Grandfathered” Providers Update

Effective September 1, 2006, the University of Texas System contracted with AIG Valic, Fidelity Investments, ING, Lincoln Financial, MetLife Resources and TIAA-CREF to offer services in the UTRetirement Programs. If you were participating with a company prior to September 1, 2006, that is not one of the six currently authorized providers, you were allowed to continue making contributions to that grandfathered company until further notice.

What is the current status of the Grandfathered providers?

Due to increased fiduciary responsibility and accountability on plan sponsors, UT System will need to require that each provider be able to meet specific standards in order to continue to receive your retirement contributions.  Over the next several months, UT System will be reaching out to these grandfathered providers with the specific standards. 

What if my Grandfathered provider does not respond or is not able to meet the standards?

If your provider cannot meet these standards or chooses not to, you will be asked to start investing your future retirement contributions with one of the six currently authorized providers.  However, the intention is to allow the contributions already made to the company to remain unless you choose to move those contributions to one of the six currently authorized providers. 

What do I need to do if I am currently contributing to a Grandfathered provider?

Nothing yet.  If your provider is unable or unwilling to meet the criteria established by the University of Texas System to continue receiving contributions, you will receive a letter in the fall explaining the situation and your investment options.

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