Savings Plus Selects New Administrator, Aon Hewitt

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Transition Overview

The Savings Plus administrator contract with Nationwide Retirement Solutions has expired as of December 31, 2012. As such, Savings Plus went out to bid and awarded a new contract to Aon Hewitt effective January 2, 2013. This change brings exciting new features, cutting-edge technology, and interactive tools designed to make retirement planning easier for State employees.

Schwab Communication to PCRA Holders:

Savings Plus and Nationwide Retirement Solutions recently learned that Charles Schwab sent a communication to PCRA holders without our knowledge. This communication announced the brokerage transition from Schwab to Hewitt Financial Services (HFS). Part of our overall communication plan to announce the transition of the Plan Administrator included a series of mailings addressing the transition of your brokerage account. The first is a “Negative Consent Letter” mailed on October 29, 2012 which provided details about your options regarding this transition.

For more information, review frequently asked questions about the brokerage transition from the Schwab Personal Choice Retirement Account (PCRA) to the Self Directed Brokerage Account (SDBA) through Hewitt Financial Services (HFS), or review the Fees and Commission Schedule for the HFS Self Directed Brokerage Account (SDBA).

Frequently Asked Questions

Get answers to frequently asked question about the administrator transition from Nationwide Retirement Solutions to Aon Hewitt.

Download Your Statements Before Dec. 26

The last day to download archived statements from sppforu.com was 1:00 p.m. PT on December 26, 2012.

Blackout Period

The administrator transition required a "blackout" period to ensure accurate conversion of data.

Socially Responsible Fund Change

The Socially Responsible Fund changed from a large-cap asset category to a balanced asset category effective January 1, 2013.

Fee Reduction & Fee Holiday

Savings Plus will realize lower costs for administrative services with Aon Hewitt. We’re passing this savings on to you in two ways.

Transition Calendar

Stay up to date on all the events in transition.

Table of Events in Transition
Date	Title	Description
October 8, 2012	Savings Plus New Administrator, Aon Hewitt	All transition communication materials will be on the CalHR website
October 18, 2012	Savings Plus mails announcement postcard to participants	Announces administrator transition Previews upcoming enhancements Instructs participants to go to calhr.gov site for information about the transition Contains QR code to link smart phones to calhr.gov site
October 18, 2012	Employers email employees the Participant Frequently Asked Questions and Answers Guide	Provides high-level overview of transition Includes information on the blackout period 12/26/12 – 1/2/13 Previews upcoming enhancements Informs participants that they will receive a complete Transition Guide in the mail
October 25, 2012	Ad hoc/Union transition flyer	Provides high-level overview of transition Includes information on the blackout period 12/26/12 – 1/2/13 Previews upcoming enhancements Contains QR code to link smart phones to calhr.gov site
October 29, 2012	Hewitt Financial Services (HFS) mails negative consent letter to (PCRA) participants	Explains transition of brokerage services from Schwab PCRA to HFS Self-Directed Brokerage Account (SDBA)
November 5, 2012	Savings Plus mails ARP Transition Guides to participants	Provides calendar of transition events Describes impact on current accounts and actions participants need to take Details plan enhancements Provides new website and toll free number
November 6, 2012	Savings Plus mails PST Transition Guides to participants	Provides calendar of transition events Describes impact on current accounts and actions participants need to take Details plan enhancements Provides new website and toll free number
November 8, 2012	Savings Plus mails 401(k) Plan & 457 Plan Transition Guides to participants	Provides calendar of transition events Describes impact on current accounts and actions participants need to take Details plan enhancements Provides new website and toll free number
November 30, 2012	Savings Plus mails Socially Responsible Fund notice to participants with current or future investments	Explains changes to the Socially Responsible Fund from a large-cap asset category to balanced asset category Provides details about the new fund category Describes impact on current investments and participant options

Updated 5/20/2013