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The following announcement was emailed to All Staff on April 19, 2017.
Dear APS Employees,
This message is a follow up to information sent out regarding the termination of the TIAA cash match plan. This notification was sent 30 days in advance of the plan termination date. The plan will be terminated on May 10, 2017.
After May 10, 2017, you will have several options with regard to the funds in your TIAA cash match account. You can leave the money in place pursuant to your individual contract with TIAA, you can roll the funds to another vendor, or you can withdraw the funds. Please note, however, that withdrawing the funds may subject you to significant monetary penalties. You are encouraged to call TIAA directly to determine the impact of any decisions.
Requests to rollover or withdraw funds prior to May 10, 2017 cannot be approved, as the cash match Plan will remain in place with the same rules until that date. In May and June, we will schedule additional meeting dates for representatives from Lincoln and AXA for those who want to discuss rollovers.
If you have questions, please feel free to contact me at extension 6103.
Ellen D. Kennedy
Director of Employee Relations
Arlington Public Schools1426 North Quincy Street
Arlington, Virginia 22207