June 2019 Newsletter
Independence Day Holiday
Radford University will be closed Thursday, July 4, 2019 and Friday, July 5, 2019 in observance of Independence Day. If you earn leave and are required to work, you will earn compensatory time on an hour-for-hour basis up to eight hours. The Holiday Schedule provides a complete list of 2019 holidays.
Forthcoming Changes to the Optional Retirement Plan (ORP-HE)
Fidelity Investments will no longer be a provider option for new hires effective June 1, 2019. Fidelity’s deselection is an effort to better align the ORPHE with industry best practices, to address investment performance and fee issues and to ensure that participants across all VRS plans have access to similar services. Effective June 1, 2019, VRS ORPHE eligible participants will have a choice of two providers: TIAA and the Commonwealth’s Deferred Compensation Plan.
Additionally, Fidelity Investments will be deselected as a provider option for current participants, effective January 2020. Current participants must choose another provider during an open enrollment period from October 1, 2019 through November 15, 2019. Participants will also choose whether to receive contributions as of this date, with the option to retain existing assets with Fidelity or transfer balances to a different provider. In addition, Fidelity investments will be accessible through the self-directed brokerage account offered by the remaining providers. Open enrollment details will be announced at a later date.
The TIAA investment lineup will be updated, as part of the effort to reduce fees, enhance fee transparency and improve fund performance. The updated investment menu will continue to provide investments across various asset classes to help meet participants’ varying financial goals.
Please note that changes to the VRS OPRHE do not impact the 403(b) plans offered by the University, nor do they impact the current ORPHE contribution rates. Information will be provided to Fidelity Investments participants as received.
June 17, 2019 Deadline for Quarterly Changes to Voluntary Contributions to VRS Hybrid Defined Contribution Plan
Employees enrolled in the VRS Hybrid Plan have until 4:00 p.m. on Monday, June 17, 2019 to make changes to their voluntary contributions to Hybrid 457 Deferred Contribution Plan component. Changes made by June 17, 2019 will be effective July 1, 2019 and are made through your online account. Hybrid Plan participants may contribute up to 4% into the plan’s defined contribution component and receive up to a 2.5% match depending upon the percentage increase. Participants are reminded they may make changes by the 15th of the month each December, March, June, and September of each year with changes effective the 1st of the following month. Additional information is available at the Hybrid Retirement Plan on the VRS website. Please contact your Benefits Team at 540-831-5008 or email firstname.lastname@example.org if you have questions or need assistance.
VRS Member News
The VRS Member News is published by VRS each month with useful information for VRS and ORP participants. This edition includes a link for signing up for Member News so you can receive it directly to your email address. Highlights for this month’s edition include the upcoming open enrollment for Voluntary Group Long-Term Care Coverage beginning in September. Also, take a look at information on enrolling in the additional Group Life Insurance Program. Finally, please check out the links on investing in your future and other member education links in the newsletter.
Retirement Planning and Information Sessions
These sessions are intended for employees who are nearing retirement or just wanting to learn more about the process. Each session will cover topics ranging from the Virginia Retirement System and the Optional Retirement plans, life insurance and retiree health insurance options, as well as information on Social Security and supplemental retirement plans. This quarter’s sessions will take place in Heth 016 on the following dates.
University Passenger Van and Golf/Utility Cart Certification
If you need to reserve a University Passenger Van or Golf/Utility Cart, you must first successfully complete the online training(s) located in the VLC. Please visit Environmental Health and Safety for further instructions.
PeopleAdmin SelectSuite Training
New Employee/Beginner. This course will be offered to all new employees and anyone who has never used the PeopleAdmin system before. This is a prerequisite for the Intermediate course PeopleAdmin training. It is a basic skills course (logon, user groups, navigation, etc.) and it will be in an online format through ZOOM. You will be able to attend while remaining in your own space by simply signing onto the course. A desktop, laptop or mobile device is required with sound or you may utilize the provided call-in number. Dates and times for the training sessions are located on the HR Training website. Registration is required.
Intermediate. This course will be offered to all employees who utilize PeopleAdmin for position management, recruitment and hiring processes including search committees. Topics will include flow of actions, position modification, managing applicants, hiring proposals and more. If you are a new employee or inexperienced user you must first complete the New Employee/Beginner Course as a prerequisite. Dates and times for the training sessions are located on the HR Training website. Please bring your laptop if you are able. If you have any questions, please contact Ruby Dwyer at 540-831-7662 or email email@example.com. Registration is required.
Need HR Support?
To help answer any questions you may have, visit the Meet Our Staff page on the HR website so we can better assist your specific needs.
Be sure to follow the Human Resources Facebook page for important information and events that are posted each week.