The Commonwealth engages in a competitive bidding process to determine which providers and products should be made available under the 403(b) plan. The selection is intended to offer employees a variety of products, investment funds and service delivery models.
Multiple Providers: Participants may allocate all of their biweekly contributions to either one provider or a maximum of two providers.
Change Providers: You can change the contract provider(s) to which your contributions are sent at any time. You must complete a new Salary Reduction Agreement, identifying your new provider(s), and give the agreement to your Benefits Administrator. You must also open a new account with any new provider(s), and confirm establishment of the new account when returning the Salary Reduction Agreement to your administrator.
Product available under the Plan: Group Custodial Agreement for Mutual Funds
Products available under the Plan:Annuity Accounts and Mutual Funds
Product available under the Plan: Annuity Funds and Mutual Funds