NEWS
August 26, 2024
MFA for Fidelity Accounts Starting 9/10/24
On Tuesday, September 10, 2024, Fidelity will enable multi-factor authentication (MFA) at login and require contact information for the NetBenefits® accounts of existing UC employees.
With MFA, an extra layer of security is added to employee accounts to protect against compromised or weak passwords. In addition, requiring employee contact information allows Fidelity to enable MFA and to send security alerts.
What will be enabled?
• MFA at login will be automatically enabled for employees with a mobile number on file and enforced at their next login.
• If there is missing contact information, employees will be prompted to provide a personal mobile number and email.
No universal employee notification will be sent as employees may already be familiar with MFA and expect it at login.
MFA at login experience:
• Employees will be challenged at login with a one-time passcode or other authenticator (e.g., push authentication). The one-time passcode can be sent via Short Message Service (SMS) text or robocall (for landline support).
• Employees can choose to "trust" specific devices to avoid repeat challenges on devices they use regularly. Trusted devices can be viewed and managed in the NetBenefits® Security Center.
Deferred Lifetime Income
In 2021, UC introduced an enhancement to the Retirement Savings Program's Pathway Funds: Deferred Lifetime Income (DLI). This optional deferred income annuity lets participants convert a portion of their UC 403(b), 457(b), or DC Plan balance into fixed monthly payments beginning at age 78, when they may need it most.
This year's purchase window is open from September 3 through September 25, 2024. Retirement Savings Program participants, both active and former employees/retirees, between the ages of 62 and 69 who meet other criteria are eligible to purchase DLI.
Deferred Lifetime Income communication materials were sent to eligible participants in August 2024. To learn more, participants can attend a webcast on Wednesday, August 28, 2024, at 12:00pm, Pacific Time. They may also visit myUCretirement.com for a tutorial, DLI income estimator and video from UC's Cheif Investment Officer Jagdeep Singh Bachher.
Participants may contact Fidelity at 1-800-558-9182 with any questions about Deferred Lifetime Income.
