The University of California (UC) is implementing a change to how UC 403(b) Plan loans are repaid. Retirement Program Services is sharing this update to help employees prepare for the transition. The information below outlines what is changing, what employees need to do, and when these changes will take effect.
What’s changing
UC is updating the repayment method for UC 403(b) Plan loans. Currently, employees with an outstanding UC 403(b) Plan loan have their repayments deducted from their paycheck and applied directly to their retirement account.
