Youve had a long, successful career at UC and now youre thinking of the next phase: retirement. Payroll Employee Guide - University of California, Santa Cruz Currently, UC contributes toward the monthly cost of medical and dental coverage, but the contributions may change or stop altogether. benefit period includes a 14-day waiting period before you begin receiving benefits, and you must use up to 22 days of sick leave, if available. UCPath - University of California, Santa Cruz Due to changes in the tax law, personal exemptions are currently not a central feature of the tax code. As an alternative to monthly retirement income, members of the 1976 Tier of UCRP can choose a Lump Sum Cashout of retirement benefits. The CAP distribution is eligible for rollover. The Work Number is a third-party provider of employment and income verification. Benefits for UC Santa Cruz Employees Services Provided The Benefits Office Staff administers comprehensive University benefits programs and provides information and counseling on benefits programs for academic appointees, staff and eligible dependents. Biweekly Pay Schedule: Constructive receipt of funds received in December are reported in the tax year. Before you retire, you might want to consider buying back retirement service credit for the time you were on leave. Turnaround time for the basic PreviousEmployment Verification is two weeks from receipt of the form. Separation simply means leaving UC employment. Your Retirement Initiation Packet asks you if and when you are moving after retirement. What are my responsibilities around notification that I plan to retire? Federal income tax and State Income Tax are calculated from tables published by Internal Revenue Service. Map (PDF 123KB) How do I stay connected to UC Santa Cruz? NOTE: If you and all family members are Medicare-eligible and you move out of California, you and your dependents will have medical coverage through UCs Medicare Coordinator Program. NOTE: If you elect to retire immediately following a layoff, please contact the UC Santa Cruz Benefits Office for assistance as soon as possible because you may be eligible for continued health coverage as a retiree, which will require special handling. Q) If a Foreign National disagrees with GLACIERs Tax Summary Report determination, what should they do? Would you like to be on our mailing list regarding Benefits updates? This document provides general information regarding the taxability and treatment of fellowship awards for tax purposes. The Lump Sum Cashout is the actuarial equivalent of the present value of a UCRP members lifetime retirement income. Additionally, if you were hired as a Limited employee, the periods of Limited employment are not generally counted toward your UCRP service credit because membership requirements were not met. Select "Open Enrollment" as the topic in the dropdown. Application Timeline December 1: The online application form for the Silver Slug Award becomes available. Additional information about local compensation policies and practices can be found on campus websites: So many choices! UCRP also provides disability and death payments and, for certain members, a Capital Accumulation Payment (CAP). Any portion of the fellowship used to pay for other expenses (e.g., room and board, travel, health insurance premiums, or other living expenses) must be included in your taxable income for the year. Im being laid-off. Advance EIC payment. Your coverage is continuous until the date your retirement income begins. If you're represented by a union, your compensation and benefits are negotiated between UC and your union and finalized in a contract. However, 'limited' status non-resident alien employees who hold a F-1 or J-1 visa are exempt from this deduction. It is your responsibility to update your address any time you move. Workers' Compensation - University of California, Santa Cruz If you have questions about your layoff options (e.g. Yes. Non-resident alienemployees are required to file a new, Non-resident alien employees must also inform the University in writing of any change in status during the calendar year and complete a new. You earn service credit whenever you receive covered compensation for an eligible appointment. This is the case whether the funds are paid to you directly or to a third party on your behalf. Normally, this box contains the total year-to-date State Taxable Gross pay. Non-exempt UC Santa Cruz employees are paid on a biweekly basis. Q) Who can I contact if I need help with my GLACIER Tax Record? What is the status of my University of California Retirement Plan? Social Security wages: year-to-date wages subject to OASDI, including imputed income. Employed students enrolled in the qualifying number of academic units per quarter. About Employee Housing - University of California, Santa Cruz It may display one or more of the following amounts: Retirement plan. Part-time or variable-time work results in a proportionate amount of service credit. Academic Employees Impacted by Layoff - University of California, Santa Click here for more information about retirement rates. You may use the Separation date from the PRP in your resignation letter. If you are having issues accessing this site, please reach out to UCPath Center directly at 855-982-7284. Read your bargaining unit's employment contract, stay abreast of current negotiations and learn about collective bargaining at UC. What if I change my mind and decide not to retire? All verifiers (banks, employers or leasing agents) must access your information through its website. If you accrue vacation and want to use it leading up to your retirement, you need to get departmental approval first. the employee must be participating in the UC Retirement Plan and accruing service credit. long-term stability of the Retirement plan please go here, "Navigating Market Volatility" from UCOP and Fidelity, step-by-step instructions regarding the retirement process, Getting Help With UC Retirement At Your Service (UC RAYS), Special Tax Notice for UC Retirement Plan Distributions, UC Retiree health and welfare benefits website, UC Retirement Administration Service Center, UCRP Returning to UC Employment After Retirement Factsheet, Guides for Life Events (enrolling, having a baby, going on leave, retiring from UC, etc. Announcing new AVC for Staff Human Resources and Chief Human Resources Officer, Statement on Supreme Court decision on equal rights, Statement on Supreme Court decision regarding college admissions, UC Santa Cruz is an Equal Opportunity Employer, Office of Physical Ed Recreation & Sports, Staff Appreciation & Recognition (STAR) Plan, Employee-Initiated Reduction in Time (ERIT) Program, Sexual Violence Prevention & Response (Title IX). ), Sexual Violence Prevention & Response (Title IX), University of California Retirement Plan (UCRP): a defined benefit plan, A pension plan with four membership classifications and mandatory pretax contributions, Defined Contribution Plan (the DCP): a defined contribution plan, A savings and investment plan for mandatory pretax contributions for certain members, voluntary after-tax contributions and rollovers, Tax-Deferred 403(b) Plan (the 403(b) Plan): a defined contribution plan, A savings and investment plan for voluntary pretax contributions and rollovers, 457(b) Deferred Compensation Plan (the 457(b) Plan): a deferred compensation plan, Electronically, as a secure message attachment through your UCRAYS account or, Your separation date is the last day of employment at UC Santa Cruz in any capacity. ), Sexual Violence Prevention & Response (Title IX), General questions regarding the UC Retirement Plan (UCRP), such as inquiries regarding vesting, service credit and highest average plan compensation (HAPC), Personal retirement profiles and retirement elections, Capital accumulation provision (CAP) inquiries, Counseling for survivors of deceased employees, Counseling for Pension Choice / Savings Choice Options. Staff Human Resources - University of California, Santa Cruz The entire retirement process takes about three months for most members. To obtain an estimate of the cost of a service credit purchase, contact RASC via Secure Message using UC RAYS (Retirement At Your Service). Talk to your academic HR coordinator for more information on pay dates and service dates. Review the Retirement Handbook to learn about your options. Year-to-date state income tax withheld. If you previously accrued UCRP service credit and did not receive a refund of accumulations, the service credit will be on record. You may continue your coverage as a retiree in UC medical plan with HSA, provided you continue to meet the HSA eligibility requirements: If you or your family member(s) have Medicare Part A or B entitlement at retirement OR you are moving out of the United States, you must change your medical plan. Your benefits are defined by formulas that vary according to the type of benefits payable (for example, retirement, disability or survivor benefits). In fact, it is your responsibility to inform your supervisor in writing that you plan to retire. As a vested member, you have the right to elect ANY date to retire following your separation from UC Santa Cruz employment. You earn no UCRP service credit for any unpaid leave periods. For this reason, it is very important that YOU notify your supervisor and HR analyst of your intent to retire in writing. Health and welfare benefits are not accrued or vested benefit entitlements. You can continue to keep your retirement savings in the UC Retirement Savings Program even when you are not working for University of California or have retired, provided the minimum balance requirement is satisfied. You can find more information and links to UCPath specific resources through the main. Answers to most W-2 questions and other payroll issues are available on the UCPath website. If you retire and experience a family status change (e.g. Lump Sum Cashout is not available to 2013 and 2016 Tier members. Applicable Internal Revenue Service (IRS) Basics. Contact UC Retirement Administration (UC RASC) right away following a family status change to learn your options. Recipients of such awards include postdoctoral fellows, clinical fellows, and similar recipients. Medicare does not have a wage base limit, however, once you earn $200,000.00 the rate changes from 1.45 to 2.35% for earnings starting at $200,000.01. Q)I need a copy of my paystub or W2 prior to 2020. ITS Employment Opportunities - University of California, Santa Cruz I am a survivor/ beneficiary of a retiree who has passed. The UCSC Faculty and Staff Housing Program assists employees in finding suitable and affordable housing on campus. What benefit premiums will be deducted from final paycheck? Bargaining Units & Contracts | UCnet - University of California Q) What if my bank is experiencing financial trouble? . For example, the Pay dates for the Fall Quarter commences on July 1st, but the academic quarter or Service Dates customarily begin in late September or early October, when classes begin. 2023 Regents of the University of California. Your address in the Employee Database (EDB) at the time the W-2 form was produced. Before you make any decisions, you are urged to speak with your family and/or with a trusted financial advisor to fully understand tax implications on your decision to retire. Payroll FAQs | Administrative Services - University of California That would also be the case when there is a third biweekly pay period that ends in a calendar month (ie: no reduction will be applied against that retirement deduction if the $19 threshold has already been met for the month in a previous biweekly cycle). NOTE: If December 1 falls on a weekend or holiday, November monthly pay is issued the last business day before December 1. Not sure where to go? Why are boxes 3 and 5 (Social Security wages and Medicare wages) higher than Box 1? UCPath Open Enrollment FAQs | UCnet - University of California The following Frequently Asked Questions page and Retirement and Separation Factsheet were developed to assist all UCSC employees obtain retirement counseling services effective that date: HAPC stands for Highest Average Plan Compensation. If you elect monthly retirement income, your unused sick leave will be converted to additional UCRP service credit. Current and former employees report that UCSC Silicon Valley Extension provides the following benefits. I am a retiree and have questions regarding my health insurance, what do I do? Can the visitor fill out a GLACIER record? Go to Employee Actions> Health and Welfare > Benefits Summary, change the date to January 1, 2022, and click Go. W-2s will reflect all employee wages paid from the December monthly (paid on, or about January 1) through the November monthly (paid on, or about December 1). These are not available for continued automatic deduction from retirement income. PLEASE NOTE: Certain notices are sent in compliance with Federal requirements. If you elect Lump Sum Cashout at retirement, you (and your family members) forfeit the following: The Lump Sum Cashout is subject to federal and state taxes in the year you receive it. What do I need to do? The chart below illustrates the basic structure of UCRS. Once vested, you generally have a non-forfeitable right to receive UCRP retirement benefits upon leaving the University and reaching retirement age. What do I do? Note that if you retire more than 120 days after your separation/layoff date, you will not be eligible for University retiree health coverage. In the Type of Record section, select the Type of Request. Employer's identification number: UCSC's Federal Tax ID number. The retirement process generally takes 90 120 days. Your retirement must follow your separation. UC RAYS (Retirement At Your Service) is the portal to the new pension administration record-keeping system. Enter the desired Date Range of Record Requested. The Employee Assistance Program is established to help deal with these problems. Q) When is the best time to make changes to my account on AYSO to assure that my funds will go to my new account? b. Employer's identification number: UCSC's Federal Tax ID number. ACADEMIC EMPLOYEES 1 11/30/2021 LJ Welcome to the University of California, Santa Cruz! If you were a member of UCRP on specific dates between 1992 and 1994 and/or between 2002 and 2003, you may have been eligible for UCRPs Capital Accumulation Payment (CAP). Benefits of Belonging - University of California, Santa Cruz Please register from here. Q) Can a department extend an employee's appointment in order to obtain additional time to submit final hours worked? The box may contain the total of the following: State income tax. For Super users, transactional users and divisional users: More questions? Your UCRP contributions remain in a trust in order to fund your retirement Plan benefits. It may not be complete. If you separated from UCSC in 2021, you will access UCPath through the former employee access site. This is administered by UC Retirement Plan or Fidelity Investments. UC RAYS was launched in March 2019. You will receive a final email Confirmation Statement for your 2022 . Can I change my health plans or add dependents to health plans at or after retirement? If you are a U.S. citizen or a resident Postdoctoral Scholar who is the recipient of a fellowship (i.e., a PostDoc Fellow or Paid Direct), the following information is intended to provide you with general federal tax rules regarding your award, including your reporting and record keeping responsibilities. UCSC Silicon Valley Extension: Employee Benefits and Perks The University of California is self-insured for workers' compensation and benefits are administered by Sedgwick CMS, our third party administrator; Oakland Office main number is (510) 302-3149. What should I do? Notifying your supervisor or dean in advance will allow the campus to formally separate you from UC employment, for the correct reason and will allow sufficient lead time in order to allow a smooth transition from receiving employment income to receiving retirement income, and any health plan benefits for which you qualify, from the UC Retirement Plan. What decisions will I have to make in the retirement process? Insurance, Health & Wellness Financial & Retirement Family & Parenting Vacation & Time Off Perks & Discounts Professional Support Retirement Services - shr.ucsc.edu Note that if you retire more than 120 days after your separation date, you will not be eligible for coverage under UCs retiree health coverage. If you are enrolled in a UC-sponsored medical plan after retirement and you or any of your enrolled family members are or become eligible for Medicare, UC requires that you (or the family members) enroll in both Medicare Parts A and B. Contact WEX directly to elect Health FSA continuation or with any questions on your Health FSA account. You become vested in your Plan benefits whether you earn all service credit as a member in one UCRP membership classification or tier or in multiple UCRP membership classifications and tiers. Generally, if you elect monthly retirement income and you meet UCRP service credit requirements, you may be eligible to continue your UC medical, dental, vision, legal and/or AD&D coverage if: Vision coverage in retirement is not funded by UC, but you may continue coverage by paying premiums directly to the vision plan. Who do I contact after retirement for help? Retirement - Frequently Asked Questions - University of California The University is not required to withhold or report Fellowship/Scholarship income for Postdoctoral Scholars that are U.S. citizens or U.S. resident aliens. Learn how to apply for new benefits or manage your existing benefits online: Create a New BenefitsCal Account before you apply for or manage existing benefits online, then Apply for or manage existing CalFresh, CalWORKs or Medi-Cal benefits at BenefitsCal However, you may be able to change plans if you have a qualifying event at the same time as retirement (e.g. University of California Retirement Plan (UCRP) contributions are withheld from Employees participating in one of three UCRP tiers (1976, 2013 and 2016). UC Santa Cruz is seeking dedicated professionals to help support and advance the University's Mission of Administrative Excellence: At UC Santa Cruz we value the personal well-being and professional development of each of our employees: Staff HR strives to provide you with the tools you need to best nurture and grow your employees: Last modified: May 17, 2023 128.114.113.82, UC Santa Cruz, 1156 High Street, Santa Cruz, Ca 95064.