The purchase window for this year is planned for September 1 to September 26, 2023.
- The purchase window closes for you once you confirm your purchase. Your confirmation is final and cannot be changed regardless of the amount of time left in your purchase window. You will NOT be able to change or reselect once you submit your choice.
SECURE 2.0 Act Update: You will have 90 days from the effective date of your annuity contract to cancel and receive a full refund of your premium – also known as a “free-look” period. The contract effective date is the date that the insurance company receives your premium, which occurs at the end of the election window in late September.
- If you don’t purchase Deferred Lifetime Income, you will be notified of the window in the following year, for as long as you remain eligible.
Here’s how to purchase.
- Log in during the purchase window, then provide some basic information.
Indicate if you want to purchase income for yourself (single life option) or with your spouse (joint & survivor options), confirm your personal details and, if needed, provide details on your spouse.
- Decide on an amount.
You’ll get a quote based on your information and factors provided by the insurer. You can adjust as needed until you are happy with the amount.
- Get your account ready.
Choose a UC RSP plan for the purchase (e.g., 403(b), 457(b), or DC plan). The money for your purchase must be invested in the UC Pathway 2020 Fund or the UC Pathway Income Fund. If needed, you’ll get step-by-step instructions about how you can move between plans and/or investment funds to meet balance requirements.
- Add details and confirm.
Add up to four beneficiaries. Then read the insurer’s disclosures, enter your initials, and confirm your purchase.