The University System of Georgia is making enhancements to its retirement plans to help simplify how you save for the future.
USG is retaining Fidelity, TIAA and VALIC as the providers in the 403(b) and 457(b) voluntary plans and eliminating Lincoln Financial Group as a provider. If you currently direct some or all of your voluntary contributions to Lincoln, you must select a new provider and new investments by April 19 to direct how your future contributions will be invested beginning with the April 30, 2019 monthly payroll.
Steps to select a new provider and investments by April 19 – For current Lincoln participants only
- Log in to Retirement Manager and make your vendor selection no later than April 19, 2019. Follow the instructions
on the page to create your account or login and make your elections. You must select
the paycheck date below, depending on your payroll frequency:
Monthly payroll: Start date 4/30/19
Bi-weekly payroll: Start date 5/10/19
- Visit choose-investments.usg.edu in order to select your investments from the new lineups. These investments will take effect with the April 30, 2019 monthly payroll.
If you do not select a new provider by April 19, 2019, you will be defaulted to TIAA
as your provider and you will be enrolled in a new TIAA account with a new contract.
Your future contributions will be directed to USG’s default fund for the plans—the
Vanguard Institutional Target Retirement Date Fund—that corresponds with your projected
retirement date based on age and your beneficiary will be set to “Estate.”
Please note: If you want to contribute to both the 403(b) and 457(b) plans, you’ll need to complete the steps once for each plan.