You do not need to obtain this signature. If you are participating in the plan, return Exhibit B and C to EPC along with Exhibits D and F and the Beneficiary Form. EPC will secure the required university signatures following the close of the UFSP revocation period (midnight, Dec. 23, 2022).
The data provided by EPC is an estimate. The information STRS/OPERS gives you is official. In all cases, you should make decisions based on the information you receive from STRS/OPERS. You can notify EPC of the information and they can send you updated information if you would like.
Employees who may be eligible to participate should have received a packet of information in the mail at their home address prior to Oct. 31, 2022. The packet contains important forms for participating as well as an explanation of benefits and a form that specifically addresses an employee’s years of service.
If you did not receive a packet and believe you are eligible, please contact Donna Sansonetti with Human Resources at 330-672-8333 or dsansone@kent.edu.
As defined in Exhibit A, Paragraph 3 under the section entitled Death or Disability, within the UFSP Packet provided to participants by EPC, if an eligible employee is entitled to benefits under the plan, but dies before receiving all such benefits, the eligible employee’s beneficiary shall be entitled to a benefit in cash within 60 days of the employee’s death. For specific questions about death benefit payouts, contact EPC at 1-800-747-1504.
Yes, you can. Please contact EPC at 1-800-747-1504 so they can coordinate this change for you.
No. IRA accounts may not be used for this plan. Payments will be made to the participant’s 403(b) account, which will be administered by a provider selected from the university’s approved list. If a participant wishes to transfer amounts from that account, this should be discussed with a provider representative.
As defined in Exhibit A, Paragraph 2 under the section entitled UFSP Benefits, within the UFSP Packet provided to participants by EPC, all plan participants who retire or resign from the university by Jun. 30, 2023, will begin to receive UFSP benefit deposits into their selected 403(b) Contract Account between Oct. 15 and Oct. 30, 2023, and will be paid on or about the 15th of each month thereafter until all payments are completed. The participant can access the funds each month, within the parameters of the terms of his/her selected provider’s account agreement and
No. There is no option to elect the UFSP and receive the payout and contractual sick pay as a lump sum.
All who participate in the plan will receive their sick leave as part of their incentive plan. This means that you will receive sick leave whether you resign or retire. Sick leave will be included in your UFSP monthly payment. The amount of sick leave you are eligible for, according to policy 3342-6-11.1, is one-fourth or 25% of your balance up to a maximum of 30 working days or 240 hours.
