What's New - Benefits Office

Benefits - What's New...
(and other important information)

Transfer of CURP Membership to MOSERS:

Plan provisions (pursuant to section 104.1215, RSMo) that govern CURP provide a one-time election to change membership in retirement plans from CURP to the Missouri State Employees’ Plan 2000 (MSEP 2000) administered by MOSERS. Employees may consider this change after completing six years of participation in CURP. To make that evaluation, employees can access a CURP to MOSERS Comparison Sheet by clicking here. No action is required if intending to retain membership in the CURP.

Northwestern Mutual Investment Services Changes:

In July 2007, the Department of Treasury and Internal Revenue Service (IRS) issued new regulations regarding the administration of tax-sheltered 403(b) annuity plans. Most changes take effect January 1, 2009. In response to these new guidelines, Northwestern Mutual Investment Services has issued a formal written response indicating that, effective August 31, 2008, it will no longer accept new contributions on behalf of plan participants to its Northwestern Mutual 403(b) accounts. However, Northwestern Mutual's response states that future contribution amounts after the deadline date can be redirected to a partnering 403(b) provider.

Northwestern Mutual partners with several 403(b) companies, and its financial advisors are authorized to service accounts with these partnering providers.

If you are actively contributing to a Northwestern Mutual account, please reference below a listing of Northwestern Mutual's third-party investment providers that are also accepted under the University's 403(b) plan offerings:

Fidelity Investments
ING Aetna
Hartford Life
American Funds

In order to stop your Northwestern Mutual investment and redirect your current contribution to one of the partnering investment providers listed above, contact your Northwestern Mutual investment advisor. Additionally, please complete a Section 403(b) Salary Reduction Agreement form and submit to Leann Walther, Human Resources, at MS3150 for processing. The form can be downloaded from the Human Resources website by clicking on the following link: http://www4.semo.edu/humanresources/Benefits/salreduca.htm. If you will be redirecting your contribution to another provider, complete the form by inserting the Northwestern Mutual company name with a $0 amount as well as the name of one of the alternative investment providers listed above and the associated contribution dollar amount for September 2008 payrolls and beyond. If only stopping the contribution to your Northwestern Mutual account, simply list the Northwestern Mutual company name with a $0 amount.

Hit Counter