Humboldt State University

403(b) Retirement Plan

 

Employees of Humboldt State University Sponsored Programs Foundation (HSU SPF) are eligible to contribute to a voluntary tax-sheltered annuity plan. The 403(b) program allows HSU SPF employees to save toward retirement by investing pre-tax contributions in tax-deferred investments in either annuities or mutual funds, under Internal Revenue Code (IRC) Section 403(b).

We are transferring our retirement plan investment and recordkeeping services to Principal Financial Group!

Effective October 1, 2018, the Humboldt State University Foundation 403(b) TDA Plan (the Prior Plan) was merged into and became a part of the Humboldt State University Foundation 403(b) DC Plan (the Surviving Plan) with all accrued benefits and account balances under the Prior Plan becoming accrued benefits and account balances under the Surviving Plan. The Humboldt State University Sponsored Programs Foundation is and has been the Plan Sponsor of both plans.

 

Upon approval of the Board of Directors, Principal Financial Group was selected to serve as the investment provider for the Humboldt State University Foundation 403(b) DC Plan. Below are a few helpful documents provided by Principal to assist with the transition:

 

All Participant Notice sent 8/14/2018

Handout - Account Access Guide to help you manage your retirement goals

Handout - 1 on 1 Education Meetings with Principal

 

Principal Financial Group was onsite September 5th and 6th at Humboldt State University to meet one on one with our HSU SPF employees and assist our with the transition. To view the slides from their on-campus presentation Click Here.

 

HSU SPF's 403(b) Retirement Plan

Effective October 1, 2018, HSU SPF Employees will be eligible to receive 10% Employer Contributions on the first day of the calendar month coinciding with or next following the day you meet the following requirements:

  • You attain age 21
  • You complete 1 year of service with 1,000 hours in that year


Once you satisfy the eligibility requirements and enter the plan, you will continue to participate while you are still employed by HSU SPF, even if you have a break in eligibility service (occurs when you do not work more than 500 hours) or have a reduction in time base. Note, although you should receive a copy of the Summary Plan Description (SPD) when you become eligible, you may request another copy at any time.


HSU SPF employees will not be eligible to participate in the retirement plan if they fall into one of the following categories:

  • You are eligible to participate in a 401(k) or another 403(b) plan sponsored by Humboldt State University under which you can make employee contributions. (Category E – Stateside Employees)
  • You are a student performing services for Humboldt State University Sponsored Programs Foundation and where you are pursuing a course of study with Humboldt State University. (Category C – Student Employees)


All other categories of HSU SPF Employees will be eligible to participate in both the Elective Deferrals (voluntary) and/or receive the Employer Contributions.