OVERVIEW

Who is eligible?

Deferred Lifetime Income is a feature available through the UC Pathway Funds. It is designed to turn a portion of your 403(b), 457(b), or Defined Contribution (DC) plan balance into income that lasts throughout your lifetime, beginning at age 78. You can use Deferred Lifetime Income to supplement other sources of retirement income—like Social Security and the UC Retirement Plan (UCRP)—and help cover your spending needs in your later retirement years.

You are eligible to purchase Deferred Lifetime Income if:

  • You’re a UC Retirement Savings Program (UC RSP) participant between the ages of 62 and 69 as of the purchase date; and
  • You have a combined pretax account balance of at least $40,000 across the UC 457(b), 403(b), and DC Plans; and
  • You have a Social Security or tax ID number and a U.S. mailing address.

UC will notify you of the purchase window each year that you are eligible. Once you purchase Deferred Lifetime Income through the UC RSP, you will not be eligible to purchase it again, even if you did not previously take full advantage of the IRS limit.

 

Beneficiaries of a primary account holder and alternate payees of a qualified domestic relations order (QDRO) are not eligible to purchase Deferred Lifetime Income.