Transition Your Retirement Savings Plan

As part of the transition to Piedmont Healthcare’s employee benefits program, the University Healthcare System 403(b) Retirement Savings Plan will be terminating as of June 30, 2023.

Important Retirement Savings Plan Dates

JUNE

30

BEGINNING OF PLAN TRANSITION

THROUGH JULY

31

COLLECTION OF GROUP ROLLOVER FORMS

JULY

31

GROUP & LOAN ROLLOVER DEADLINE

SEPTEMBER

15

DEADLINE TO MAKE A DISTRIBUTION ELECTION

NEXT STEPS?

What to do next depends on your current employment status with Piedmont August.

I’m currently a Piedmont August employee

I’m currently a Piedmont August employee with an active loan through my retirement plan

I’m NOT currently a Piedmont August employee

What Happens to My Loan When the Plan Transitions?

You have the option of rolling your loan to the Piedmont 401(k) TomorrowPlan at Fidelity and continuing payments. This decision must be made by July 31, 2023.

To roll your loan to the Piedmont 401(k) TomorrowPlan, follow these steps:

Complete the Group Rollover Request Form to roll your loan balance to the new plan
Complete the Fidelity ACH Form to continue payments on your loan

These forms must be submitted to Cannon Financial Strategist by July 31, 2023. If you choose to not roll the loan into the new plan, you must pay off the entire loan balance before September 15, 2023.

If loan is not either rolled to the Piedmont 401(k) TomorrowPlan or paid off before September 15, 2023, it will automatically default. Default of a loan will result in owing income taxes and possible tax penalties on the defaulted loan balance.

What will happen to my University Health Care System 403(b) Balance?

Due to the termination of the 403(b) plan your account balance cannot remain in the Transamerica 403(b) account. You must make an election to move your balance by July 31, 2023.

Click the image below to review the transition plan.

Submitting Forms for Your Retirement Plan Transition

You can turn in Group Rollover forms in person or by mail at:

Piedmont Augusta Human Resources

Attn: Cannon Financial Strategists

1402 Walton Way,

Augusta, GA 30901

Group Rollover forms can also be returned at any group presentation.

PRESENTATIONS & MEETINGS

Piedmont Augusta is hosting on-site presentations during which advisors from Cannon Financial Strategists will be available to walk you through this process, answer questions, and assist with completing forms.

Advisors will be available on campus Monday – Friday. Appointments are not needed, but can be arranged by reaching out to Piedmont@CannonFinancialStrategists.com.