Fidelity Deductions 403(b) and 457(b) FAQ


403(b) and 457(b) deductions should be entered as MONTHLY AMOUNT to be deducted, NOT annual amount. Biweekly employees should note that the deduction is split between the two checks each month and if there is a third bi-weekly, no deduction will take place unless the employee has selected a percentage-based election.

You can choose flat amounts or percentage to be deducted from your paycheck. 70% is the max percentage that the Fidelity site allows. The combined percentage of 403(b) and 457(b) should not equal or exceed 100%.

As a UC employee, you can contribute to the 403(b) and the 457(b) as long as you are not a student working fewer than 20 hours per week. You can contribute to either plan or both plans, depending on your budget.

In 2022: You can contribute up to $20,500 pretax to the 403(b) Plan, plus another $20,500 pretax to the 457(b) Plan for a total of $41,000. Plus, if you are age 50 or older, you can contribute an additional $6,500, which means you can contribute a total of $27,000 pretax to each plan for a total of $54,000.

In addition, you may be eligible for special and lifetime catch-up provisions to increase your limits. Contact Fidelity to see if you are eligible.


What’s the timeline to change the 403(b) and 457(b)?

Login to UCPath to see the calendar for timeline to change the 403(b) and 457(b).

Click on this link

When will my new 457(b) deduction reflect on my paycheck?

The 457(b) Plan is subject to IRS rules covering governmental plans: According to IRS rules, deferral elections for the 457(b) Plan cannot go into effect immediately. All deferral elections, including enrollment, changes or cancellations, are effective for earnings for time worked in the month after the election is made, subject to payroll processing deadlines. For example, if the deferral election or change is made in January, the change in contribution is effective for February earnings, which is typically paid March 1 if paid monthly or the second paycheck in February if paid biweekly. Please refer to 457(b) Deferred Compensation Plan – Contributions. For more information, contact Fidelity Retirement Services at 866-682-778.

What happens if I put the wrong contribution amount for 403(b) or 457(b) plan?

If you enter a wrong contribution amount, you can change your contribution amount through the Fidelity NetBenefits website. If you have further questions please contact Fidelity Retirement Services at 866-682-7787.

Once corrected, you can notify UCPath of the correction and provide the screenshot of the new election to assist UCPath representatives in adjusting the contribution amount on your paychecks.

What is the difference between 403(b) and 457(b)?

The key difference between the two plans is how and when you can get access to your money. If you have an extreme financial need while you are working for UC and have to tap into your retirement savings, the UC 403(b) plan allows you to take a loan from your account if you need one. The 403(b) is intended to help you save for retirement, so make sure you examine all your other options before you take a 403(b) plan loan. The UC 457(b) plan will not allow you to take a loan from your plan account.

What happens to my retirement accounts if my UC employment ends?

Once your UC employment ends, you can contact Fidelity Investments to discuss your rollover options.

If you do not make arrangements for a distribution, your accumulation will be either:

Contact Fidelity Investments at 866-682-7787, they can advise you of your next steps if you have money in the following plans: DCP, 403(b) and 457(b).

How do I get a loan from my 403(b) plan?

Please contact Fidelity at for online assistance or call (866) 682-7787 Monday–Friday, 9:00 a.m.–9500 p.m. PT

Can I pay off my 403(b) loan balance?

Yes, 403(b) outstanding loan balance can be prepaid without a prepayment penalty. To make a payment, contact Fidelity Retirement Services at 866-682-7787.


Can I rollover my retirement plan while active?

All plans are now available for in-service distributions at age  59 ½ or older.  This means that all employees  can make withdrawals or rollovers without problem or penalty - even if while actively working for University of California.   At the same time, if employee is eligible, contributions can still be made to all Plans as well.


If you still have questions or need additional assistance, please submit a ticket.