Other Transition Details

Matching Contributions

The University of Kentucky matching contributions will not be impacted by this transition.

Roth 403(b)

In addition to being able to make pretax contributions to the Plan, you are also able to make Roth 403(b) contributions to all UK Voluntary Plans. The Roth 40(b) contribution option lets you contribute to the Plan on an after-tax basis and make potentially tax-free withdrawals in retirement.2

Beneficiary Designations

Your Beneficiary designations will remain on file with Fidelity. If you have not made a designation or would like to review your information, log on to NetBenefits.

With Fidelity’s Online Beneficiaries Service, you can designate your beneficiaries, receive instant online confirmation, and check your beneficiary information virtually any time.


If you are currently an active participant in the Plan, you will continue to repay your loan(s) in the Plans in the same manner as you are currently. The transition will not affect the terms or length of your loan(s).


2A distribution from a Roth 401(k) is tax-free and penalty-free, provided the five-year aging requirement has been satisfied and one of the following conditions is met: age 59½, disability, or death.

Fidelity® Personalized Planning & Advice

The University of Kentucky has teamed up with Fidelity to offer a managed account service. It’s a new way to help you get, and stay, on course toward your retirement goals. With Fidelity® Personalized Planning & Advice, you get active retirement account management. This means that Fidelity’s team of investment professionals invest, monitor, and rebalance your account as needed to adjust to changes in the market, or changes to your situation.

Fidelity Representatives are available to answer any questions you may have about this managed account service. Call 866-811-6041 for more information.

Following the transition, you will continue to have access to the service. Any legacy fund option(s) that may be included in the account portfolio will be mapped to the new investment option(s) on March 30, 2021. Your account will be readjusted as soon as administratively possible.

Fidelity® Personalized Planning & Advice at Work is a service of Fidelity Personal and Workplace Advisors LLC and Strategic Advisers LLC. Both are registered investment advisers and Fidelity Investments companies and may be referred to as “Fidelity,” “we,” or “our” within. For more information, refer to the Terms and Conditions of the Program. When used herein, Fidelity Personalized Planning & Advice refers exclusively to Fidelity Personalized Planning & Advice at Work. This service provides advisory services for a fee, which will be paid from your account.

Fidelity BrokerageLink®

Following the transition, all of the UK Retirement Plans will offer Fidelity BrokerageLink®, which provides you with an opportunity to invest in a broad range of investment options beyond those offered directly through the Plan.

Money in the BrokerageLink account will remain in a money market account until you purchase investment options. The only exception to this is if you select the automatic contribution feature for payroll deductions. If you wish to establish the automatic contribution feature in your BrokerageLink account, please log on to Netbenefits.

To make investment elections for future contributions to be directed to a specific fund in BrokerageLink, please visit Netbenefits.

The University of Kentucky may restrict nonvested assets, a source of money, or a percentage of each participant’s account from being transferred to a BrokerageLink account. A maximum of 95% of your total account value may be transferred into BrokerageLink. BrokerageLink includes investments beyond those in your plan’s lineup. You should compare investments and share classes that are available in your plan’s lineup with those available through BrokerageLink, and determine the available investment and share class that is appropriate for your situation. The plan fiduciary neither evaluates nor monitors the investments available through BrokerageLink.

It is your responsibility to ensure that the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance.


Fidelity BrokerageLink® Assets Transferring to New Plans When the market closes at 4:00 pm Eastern Time on March 31, 2021, current account balances and future contributions held in Fidelity BrokerageLink® will transfer to your new plan.