The Employee Retirement Income Security Act of 1974 requires employers to file annual reports with the Internal Revenue Service and the U.S. Department of Labor on the status of their various employee benefit plans and to provide employees with a Summary Annual Report for each retirement plan. The 2011 Summary Annual Reports for the Faculty Retirement Plan (FRP) and Retirement Savings Plan (RSP) are now available online.

In addition, the 2013 Retirement Savings Plan Safe Harbor Notice has been posted online. This legal notice is provided to all employees who participate in the RSP. It supplements the summary plan description and other information, which is available on the Benefits Administration site at www.miami.edu/benefits. The notice provides a brief summary on University contributions under the plan, the contribution election process, vesting, and in-service withdrawals. It is required that this notice be distributed to all participants in plans that meet certain Internal Revenue Code requirements to be considered a “safe harbor” plan. No action is required on your part. A “safe harbor plan” provides a required level of contributions and ensures that each eligible employee receives the full University matching contribution. You can view the 2013 RSP Safe Harbor Notice by clicking here.

If you have any questions, please contact HR-Benefits customer service by completing the online inquiry form at www.miami.edu/benefits/ask or calling 305-284-3004.