Upcoming system upgrades and policy revisions will impact the timing of new and revised elections to Supplemental Retirement Accounts (SRA) as of January 4, 2021. Your 403(b) and 457(b) SRA elections will be made through Fidelity’s Master Administrator website. There will be a specific timeframe to submit your elections which will be effective on your next applicable paycheck. Future-dated elections will not be available.
There are additional considerations for employees retiring or leaving Ohio State. If you wish to contribute sick and vacation payouts to a 403(b) or 457(b) account to avoid additional taxable income, it will be important to align the timing of the election with the desired paycheck.
In order to accurately predict your last paycheck and contribution start date, you are encouraged to submit your retirement paperwork to your unit at least a month in advance.
To contribute to a 403(b) or 457(b), you must know two things:
- The date of your paycheck when the election should begin/occur (see pay dates on the Payroll website)
- The submission window for SRA contributions to be made on a specific pay date (see osu.edu/benefits/retirement/sra/#calendars)
All 403(b) & 457(b) elections must be submitted to the master administrator website no later than the last day listed in the contribution start date calendar to be effective on the corresponding pay date.
If you have questions, contact HR Connection at hrconnection.osu.edu or (614)247-myHR (6947). Representatives are available Monday-Friday, 8 a.m.-5 p.m.