As a result of lengthy contract negotiations between attorneys for the Maryland State Retirement Agency and Fidelity Investments, there will be no payroll deductions for the Fidelity 403(b) and 457(b) Supplemental Retirement plans (SRA?s) from the January 12 paycheck as originally scheduled. Hopefully new agreements will be finalized in time to allow deductions to begin with the second paycheck of the year (January 26).
Any faculty and staff members who enrolled in the new SRA?s with Fidelity Investments last fall should wait for those deductions to begin and then decide if they want to recalculate their bi-weekly deductions for the remainder of the year.
Please note that this delay does not affect the employer contributions scheduled to be made to the new Fidelity Investments Optional Retirement Plan beginning with the January 12 paycheck or to deductions for the SRA?s from AIG Valic, Nationwide or TIAA-CREF.
Questions should be directed to Dave Curtis, x4-6018, {dcurtis@towson.edu}, or Gail Price, x4-6017, {gprice@towson.edu} in the OHR Benefits unit.
