Important Notice about the SDSU Research Foundation 403(b) Retirement Plan
You should read this notice to become informed on how your contributions under the plan are being invested and how they will continue to be invested if you have not provided investment instructions. Please disregard this notice if you have already elected the investment allocations for your contributions.
Contributions under the 403(b) Retirement Plan, (the “Plan”) by San Diego State University Research Foundation, (the “Employer”) are being invested on your behalf in the default investment as described in this notice because we did not receive investment instructions from you, or because the instructions that we received from you were incomplete or inadequate.
This notice gives you important information about some Plan rules, including:
- What amount the Employer is contributing to your account;
- How your contributions are currently being invested on your behalf (because we did not receive investment instructions from you);
- When your account will be vested (that is, not surrendered when you leave your job), and when you can withdraw your account; and
- How you can change the way your contributions are invested; and
- How you can change your beneficiary designation(s)
Distributions from 403(b) plans before age 59 1/2, severance from employment, death, or disability may be prohibited, limited, and/or subject to substantial tax penalties. Different restrictions may apply to other types of plans.
You can find out more about the Plan in the Summary Plan Description (SPD), which can be obtained from the Plan Administrator at the address listed at the end of this notice.
- What amount is San Diego State University Research Foundation contributing to my account?
If you are eligible to receive contributions under the terms of the Plan, San Diego State University Research Foundation is making the following contributions to your account:
Up to 10% of your salary, each pay period, up to the maximum permissible under the Plan
- How will my Plan account be invested?
TIAA has been selected by San Diego State University Research Foundation as the record keeper for your Plan contributions. The Plan lets you invest your account in a number of different investment choices. Because you did not choose a different investment fund or funds, your contributions are being invested in the default investment option for the San Diego State University Research Foundation 403(b) Retirement Plan, which is the age-based JPMorgan SmartRetirement Fund that corresponds to your estimated date of retirement. If the default investment fund changes at any time in the future, you will be notified.
The fact sheet for the JPMorgan SmartRetirement Funds (PDF, 151KB)* provides additional information, including the investment objectives and strategy, fund/account performance, risk and return characteristics, and fees and expenses. You can obtain updated information on fees and expenses and a more detailed explanation of the JPMorgan SmartRetirement Funds at www.tiaa.org/sdsuf or by contacting TIAA at 800- 842-2252.
To learn more about the Plan’s investment choices, you can review the Plan’s SPD. Also, you can contact the Plan Administrator using the contact information at the end of this notice.
- How can I change the investment allocation of the contributions that are being made on my behalf by San Diego State University Research Foundation to another investment choice available under the Plan?
The Plan allows you to choose from a diverse set of investment options. A list of the Plan's available funds and a copy of the prospectus or information statement for each fund may be obtained from TIAA by calling 800-842-2252 or at www.tiaa.org/sdsuf.
You have the right to change the investment allocation of your account at any time. If you elect to change the investment allocation of your account from one of the JPMorgan SmartRetirement Funds, there are no fees or expenses imposed in connection with that transfer. But certain restrictions may apply if multiple transfers are made from any one account. See the prospectus for more details on restrictions on frequent transfers at www.tiaa.org/sdsuf.
You can change how your account is invested, among the Plan’s offered investment choices, by contacting TIAA at 800-842-2252 or by accessing your account online at www.tiaa.org.
- When will my account be vested and available to me?
You will always be fully vested or 100% vested in the employer contributions made under the Plan by San Diego State University Research Foundation.
To be fully vested means that the contributions (together with any investment gain or loss) will always belong to you, and you will not lose them when you leave your job. For more information about years of service, you can review the Plan’s SPD, which is available from the Plan Administrator using the contact information at the end of this notice.
Even if you are vested in your Plan account, there are limits on when you may withdraw your funds. Generally, you may only withdraw vested money after you leave your job, and are no longer employed by San Diego State University Research Foundation if allowed by investment and contract type. Also, there is generally an extra 10% tax on distributions before you reach age 59½. Your beneficiary can get any vested amount remaining in your account when you die.
- How can I change my beneficiary designation(s)?
In addition to reviewing how your contributions are invested, you should also review and update your beneficiary designation(s) if it does not reflect how you would want your assets distributed upon your death. Reviewing and changing your beneficiary designation(s) in accordance with plan rules can be made by logging into your secure account at tiaa.org or by contacting TIAA at 800-842-2252.
- Who should I call if I have any questions?
If you have any questions about the Plan’s investment choices, how the Plan works or your rights and obligations under the Plan, or if you would like a copy of the Plan’s SPD or other Plan documents, please contact the Plan Administrator at:
San Diego State University Research Foundation
5250 Campanile Drive
San Diego, CA 92182-1945
* Note: Documents in Portable Document format (PDF) require Adobe Acrobat Reader 9.0 or higher to view. Download Adobe Acrobat Reader