Future Focus, Your Retirement Planning Resource

What’s in this Issue?

• Texa$aver 457 Plan Investments Transfer
• “Grandfathered” Provider Update
• Fund Performance Summary
• Ready to Enroll or Redirect Your Contribution?

Texa$aver 457 Plan Investments Transfer

The University of Texas System is pleased to announce changes regarding UT participants’ Texa$aver 457 Plan investments. As requested by employees and made possible with recently passed legislation, the Texa$aver 457 Plan investments for UT participants will be automatically moved under the UT System Retirement Programs umbrella and become part of the UTSaver Deferred Compensation Plan. This transfer will become effective on October 1, 2007.

Communication will be sent in late August to every UT participant who is currently contributing to or has an account balance with the Texa$aver 457 plan. The communication will offer the details of the plan-to-plan transfer.

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“Grandfathered” Provider Update

On July 23, 2007, the Internal Revenue Service posted the final 403(b) regulations, the first comprehensive regulations in the 403(b) field in over 40 years. In anticipation of these regulations and as previously communicated, the University of Texas System sent a Request for Submission to over 100 grandfathered companies to allow those companies to certify that they can meet specific standards in order to continue to receive retirement contributions from UT employees. Below are a few examples of the standards that the companies must meet in order to remain in a grandfathered status.

• Abide by all applicable state and federal laws
• Provide all state and federal tax reporting for all applicable participant transactions
• Provide adequate customer service
• Abide by proper record-keeping rules
• Use the common remitter system
• Accept electronic submission of retirement funds

All of the responses are currently being reviewed. If you are contributing to a grandfathered provider and the provider cannot meet the standards or chooses not to, you will be sent communication in the fall and instructed to begin investing your future retirement contributions with one of the six currently authorized UT Retirement Programs Providers (AIG Valic, Fidelity Investment, ING, Lincoln Financial, MetLife Resources, and TIAA-CREF).

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Fund Performance Summary

For participants who are new to the UTRetirement Programs or for those participants who may need to choose a new retirement provider or investment, the UTRetirement Programs offer numerous options.

To aid you in your investment research, UT System provides a quarterly summary of all the funds available in the UTRetirement Programs.  This summary, which is available 24 hours a day at www.utretirement.utsystem.edu/Performance.html, allows for an easy comparison of all 600-plus investment options available to you as a University of Texas employee.

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Ready to Enroll or Redirect Your Contribution?

UTRetirement Manager (UTRM) is a secure website that is available 24 hours a day, 7 days a week.

Enrolling with the UTSaver plans for the first time or changing your contribution amount? Follow these simple steps:

1. Select the retirement plan you wish to contribute to. If you are unsure about which plan go to http://www.utretirement.utsystem.edu/VoluntaryRetirement.html.
2. Choose a Provider from http://www.utretirement.utsystem.edu/Providers.html
3. Log onto UTRetirement Manager at https://www.aigretco.com/RetireMan/.
4. Click on the Enroll/Make Changes tab (For the UTSaver TSA, you should contact your Benefits Office for a calculation of your contribution limit).
5. Follow the instructions on the Enroll/Change screen.
6. Complete the Provider enrollment 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 http://www.utretirement.utsystem.edu/Enroll.html and select “Click here for help with your USER ID.”

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