Alcorn State University 403(b) Plan
2023 Universal Availability Notice
To: All Employees of Alcorn State University
In compliance with the requirements of IRC §403(b)(12(A)(ii) this Notice will advise you of the voluntary 403(b) program established and maintained for the benefit of our employees. The following information provides details of the Plan and outlines the procedures for enrollment.
Eligibility
All employees who are employed by the employer are eligible to participate in the plan.
Contributions
When you enroll in the program, the amounts you designate as salary deferrals are withheld from your wages and forwarded to an investment provider of your choice. Contributions may be changed, started or stopped at any time. Several types of contributions are available in your Plan:
Pre-Tax Salary Deferrals. These are amounts contributed into a 403(b) plan that are deferred from your paycheck before federal income taxes are applied. State income taxes may or may not be applicable.
- For 2023, you may defer from your wages, a maximum of $22,500 to all 403(b) and 401(k) plans unless you will reach 50 years of age during the year. In that case, you would be eligible to contribute an additional $6,500. Deferrals may not exceed 100% of your wages.
Rollovers. You may also rollover funds from another employer’s plan if you receive an eligible rollover distribution. Before you can complete a rollover into this Plan, you must first receive an acceptance authorization before the monies to be applied to your account.
Limitation on Aggregate Annual Additions Notice
Your Elective Deferrals may not exceed contribution limits as determined by Applicable Law. There may be excess contributions to your 403(b) if you own more than 50% (“control”) of another business and maintain a retirement plan for that business. In such event, the maximum contribution to all plans that you control and your 403(b) accounts or annuities for the year may not exceed IRC Section 415 limits, plus the age 50 catch-up limit, if applicable. Your Employer is responsible for knowing that you may control another business. You must notify your Employer that you have control of another business to ensure that you have not exceeded this maximum amount of contribution. If there is an excess between multiple plans, the excess must be removed from the 403(b).
Plan Investment Options
Your contributions to the 403(b) Plan must be made to an investment provider approved by your Employer.
NOTE: Before enrolling in the Plan, you should first establish an account with one of the Providers listed in this Notice.
Once you have executed an investment contract, you should establish an account through the Plan’s web site and create a secure login and password.
The Public Employee’s Retirement System of Mississippi (PERS) is seeking petitions for candidates to fill the institutions of higher learning representative position on the PERS Board of Trustees beginning January 1, 2023. Candidates must be employees of one of Mississippi’s institutions of higher learning and active PERS members with at least 10 years of credible service.
MEMORANDUM
TO: Alcorn State University Faculty and Staff
FROM: Office of Human Resources Management
DATE: March 23, 2022
RE: Annual Reminder of Confidentiality Statement
Alcorn State University employees sign a Confidentiality Statement agreeing not to disclose, discard, or distribute confidential information when employed. According to the statement, confidential information is defined as “all data and information relating to the business and management of the employer, including proprietary and trade secret technology and accounting records, including work product, production processing, other propriety data, business operations, marketing, and development operations and Customers. Confidential information will also include any information that has been disclosed by a third party to the employer and governed by a nondisclosure agreement entered into between the third party and the employer.” We remain confident that all employees will maintain the highest ethical standards and abide by federal and state law and university policies. Below are the associated policies for review.
Thank you!
Related Documentation:
Alcorn State University 403(b) Plan
Universal Availability Notice
To: All Employees of Alcorn State University
In compliance with the requirements of IRC §403(b)(12(A)(ii) this Notice will advise you of the voluntary 403(b) program established and maintained for the benefit of our employees. The following information provides details of the Plan and outlines the procedures for enrollment.
Eligibility
All employees who are employed by the employer are eligible to participate in the plan.
Contributions
When you enroll in the program, the amounts you designate as salary deferrals are withheld from your wages and forwarded to an investment provider of your choice. Contributions may be changed, started or stopped at any time. Several types of contributions are available in your Plan:
Pre-Tax Salary Deferrals. These are amounts contributed into a 403(b) plan that are deferred from your paycheck before federal income taxes are applied. State income taxes may or may not be applicable.
- For 2022, you may defer from your wages, a maximum of 20,500 to all 403(b) and 401(k) plans unless you willreach 50 years of age during the year. In that case, you would be eligible to contribute an additional $6,500.Deferrals may not exceed 100% of your wages.
Rollovers. You may be able to rollover funds you received as an eligible rollover distribution from another employer’s plan. Before you can complete a rollover into this Plan, you must first receive an acceptance authorization before the monies can be applied to your account.
Limitation on Aggregate Annual Additions Notice
Your Elective Deferrals may not exceed contribution limits as determined by Applicable Law. There may be excess contributions to your 403(b) if you own more than 50% (“control”) of another business and maintain a retirement plan for that business. In such event, the maximum contribution to all plans you control and your 403(b) accounts or annuities may not exceed IRC Section 415 limits for the year, plus the age 50 catch-up limit, if applicable. Your Employer is responsible for knowing you may control another business. You must notify your Employer that you have control of another business to ensure you have not exceeded this limit. If there is an excess between multiple plans, the excess must be removed from the 403(b).
Plan Investment Options
Your contributions to the 403(b) Plan must be made to an approved investment provider.
NOTE: Before enrolling in the Plan, you MUST first establish an account with one of the Providers listed in this Notice. If a valid contract or account number has not been received by PenServ prior to receipt of a salary deferral, the contribution will be returned to your Employer.
Once an investment contract is executed, a Salary Reduction Agreement that includes the Contract Number should be completed and submitted to your benefits representative or PenServ Plan Services, Inc., as instructed in your 403(b) Enrollment Guide.
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Mississippi’s State and School Employees’ Health Insurance Plan
IMPORTANT CHANGES
Currently, ActiveHealth Management performs utilization review management and case management services for Mississippi’s State and School Employees’ Health Insurance Plan (Plan).
Effective July 1, 2021, Kepro will assume responsibility for performing these services on behalf of the Plan.
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NEW BENEFIT ALERT!!!
Alcorn State University is thrilled to announce an exciting new program for employees and their household members at no cost to you: EAP and Work-Life Services.
REGISTRATION AND LOG-IN INSTRUCTIONS:
Service Provider: Humana
Telephone Access: 1-866-440-6556
TTY: 800.256.1604
Online Access: Humana.com/eap
Username: alcorn Password: alcorn (ID and password is case-sensitive)
THE PROGRAM OFFERS:
- Flexible options that include EAP counseling sessions m-person and/or over the telephone
- Access to EAP and Work-Life professionals who can assist with issues across disciplines, collaborating to address your concerns and help to solve your personal and work issues efficiently
- Access to LifeCoaches who can help you reach your own personal goals
- Customized referrals and educational materials with verification of availability and vacancy
- EAP App that includes discounted offerings like Talkspace online therapy
- Dedicated website offering expert articles, assessments, resource finders, interactive tools, checklists, podcasts, and webinars
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Alcorn State University 403(b) Plan
2021 Universal Availability Notice
To: All Employees of Alcorn State University
In compliance with the requirements of IRC §403(b)(12(A)(ii) this Notice will advise you of the voluntary 403(b) program established and maintained for the benefit of our employees. The following information provides details of the Plan and outlines the procedures for enrollment.
Eligibility
All employees who are employed by the employer are eligible to participate in the plan.
Contributions
When you enroll in the program, the amounts you designate as salary deferrals are withheld from your wages and forwarded to an investment provider of your choice. Contributions may be changed, started or stopped at any time. Several types of contributions are available in your Plan:
Pre-Tax Salary Deferrals. These are amounts contributed into a 403(b) plan that are deferred from your paycheck before federal income taxes are applied. State income taxes may or may not be applicable.
For 2021, you may defer from your wages, a maximum of $19,500 to all 403(b) and 401(k) plans unless youwill reach 50 years of age during the year. In that case, you would be eligible to contribute an additional$6,500. Deferrals may not exceed 100% of your wages.
Rollovers. You may also rollover funds from another employer’s plan if you receive an eligible rollover distribution. Before you can complete a rollover into this Plan, you must first receive an acceptance authorization before the monies to be applied to your account.
Limitation on Aggregate Annual Additions Notice
Your Elective Deferrals may not exceed contribution limits as determined by Applicable Law. There may be excess contributions to your 403(b) if you own more than 50% (“control”) of another business and maintain a retirement plan for that business. In such event, the maximum contribution to all plans that you control and your 403(b) accounts or annuities for the year may not exceed IRC Section 415 limits, plus the age 50 catch-up limit, if applicable. Your Employer is responsible for knowing that you may control another business. You must notify your Employer that you have control of another business to ensure that you have not exceeded this maximum amount of contribution. If there is an excess between multiple plans, the excess must be removed from the 403(b).
Plan Investment Options
Your contributions to the 403(b) Plan must be made to an investment provider approved by your Employer.
NOTE: Before enrolling in the Plan, you should first establish an account with one of the Providers listed in this Notice.
Once you have executed an investment contract, you should establish an account through the Plan’s web site and create a secure login and password.
The Family and Medical Leave Act (FMLA) provides eligible employees with 12 work weeks of qualifying leave within a 12-month period. Effective October 1, 2023, Alcorn State University’s method for calculating the 12-month period will change to a “rolling” 12-month period measured backward from the date an employee first uses any FMLA leave. This announcement fulfills the requirement to provide 60-days’ notice of the change to all employees.
This method will ensure continued access to FMLA entitlement for eligible employees and will better support the continuity of business operations.
Current Calculation Method
The current method of calculating an eligible employee’s 12-week entitlement under FMLA is the calendar year method. With this method, all employees are entitled to 12 weeks of protected leave each year between Jan. 1 and Dec. 31.
New Calculation Method
Effective October 1, 2023, the new method for calculating the 12-month period will change to a “rolling” 12-month period measured backward from the date an employee first uses any FMLA leave. With this method, the process would be to “count or look backwards” for 12 months from any given “request date” and total the amount of FMLA used (if any), subtract from the 12-week maximum. That balance is the amount of FMLA leave currently available for use.
During the 60-day transition period, any employees currently on an approved FMLA leave during the calendar year (prior to October 1, 2023) will continue to be in a certified and approved status through the end of the identified FMLA period. For these employees there is no need for any action to be taken.
Your Enrollment option is Open for January 1, 2024, to December 31, 2024
Login at: www.sabcflex.com/enrollment or www.sabcflex.com and click on SABCElect Online Enrollment.
Under employee login enter your social security number (no dashes) as your employee ID, and your six-digit date of birth as your password (mmddyy), please do not enter the 19 in the year of birth.
- Step 1. Review and revise any personal information that is incorrect. Follow the instructions to the next page.
- Step 2. Review your current information. If correct and you have no changes, continue to the next page.
If you wish to enroll in any insurance products; You will need to complete the required insurance applications with that insurance provider, and then contact ASU HR to add that premium for your insurance deductions cost to come out of your pay.
Once complete, you will return to the Cafeteria Plan enrollment. Then you will see that election on your plan. To cancel any supplemental insurance product, click the terminate button and complete the online form. This form will be sent to HR as your authorization to change. - Step 3. Make your Flexible Spending election. If you are electing to participate in Flexible Spending, please have your direct deposit information available to enter online.
You are next offered the SABCFlex card for the Unreimbursed Medical Plan. If you already have the card, your card will be loaded with your new Unreimbursed Medical choice for January 1, 2024. If you have never had the card, be sure to take the time to complete the form if you would like to have a card with your plan. You will be charged a fee for the card of $1.10 per month. The fee may be pre-taxed. - Step 4. Review the summary of your election, if correct, proceed to the next step. If incorrect, click the back button.
- Step 5. Read the plan provisions, acknowledge that you understand, and sign using your SS#. You may email yourself a copy of your form.
Your enrollment is complete. Click Done and Print a copy for your records.
If you have questions, contact Southern Administrators and Benefit Consultants Inc. at 601-856-9933. Please click on the attached flyer to read more about the plans or visit www.sabcflex.com.
Flexible Benefit Cafeteria Plan and Flexible Spending Accounts Plan Information