HR Update

Roth In-Plan Conversions Available

As part of the University of Minnesota’s commitment to help you meet your retirement savings goals, Fidelity has added a Roth In-Plan Conversion feature to the University of Minnesota 457 Deferred Compensation Plan, a 457(b) plan. This is effective April 9, 2024. 

What Is a Roth In-Plan Conversion? 

An opportunity to convert non-Roth assets such as those currently in your plan or rolled over from a former employer's plan into a designated Roth portion of the 457 Plan, which allows you to withdraw tax-free dollars from your account when you are eligible.

How Do I Use an In-Plan Conversion?

Call Fidelity directly at 800-343-0860. Fidelity associates are available Monday through Friday between 7:00 a.m. and 11:00 p.m. CT. 

Learn More

To learn more about Roth contributions and how a Roth In-Plan Conversion may affect your savings, you can sign up for a free consultation with a Fidelity consultant.   

The decision to add Roth within your plan depends on several factors that you should weigh carefully. We encourage you to consult your tax advisor before making a decision if this is right for you. 

All HR Updates
Shift/Click to select multiple categories
Get the Latest Resources and Training to Implement the Graduate Assistant Contract

Updates and resources available to help HR professionals implement the graduate assistant contract.

Emails Graduate Assistants Will Receive Following Contract Approval

Eligible GAs will receive emails about their new wages and FSA benefits options. 

Build a Future You’ll Love: Preparing for Retirement

Planning to retire in the next 10 years? Get ready with resources offered through University partners and the Office of Human Resources. 

W-2 tax forms now available in MyU

University employees can now access their 2024 W-2 tax-reporting forms online. 

Graduate Assistants: Elect an FSA for 2025 Before February 20!

Eligible GAs can now enroll in a flexible spending account for 2025.