Every month HR Professionals and Plan Administrators receive an email from the Fund that highlights important topics, information and/or resources. April 2025 Age 60-63 Additional Catch-Up Coming Soon! The Age 60-63 Additional Catch-Up is specifically for those turning 60, 61, 62, or 63 in the 2025 calendar year, as set by the IRS. Eligible participants will be able to contribute an additional $3,750 to the 403(b) Saving Plan, but only after all other contribution limits, including the Age 50+ Catch-Up (and 15 Years of Service Catch-Up if applicable), have been met. Employees turning 64 at any point in 2025 are not eligible for this additional catch-up contribution. In anticipation of this catch-up to be available beginning July 1, 2025, please ensure your payroll providers/systems are ready. For more information on contribution limits, visit our website here. Is your Y’s Officer Information current? It is important that the contact information for your YMCA’s senior leadership is accurate in YERDI. From time to time, we will email them to share important news and updates about Y Retirement and we don’t want your team to miss out. Click here to get started. March 2025 Y Retirement Communications Guide Looking for effective ways to share the news about the Y Retirement benefit with your team? Check out the Y Retirement Communications Guide on YERDI (located in Forms & Resources on the Home tab). It includes valuable resources like sample email language, benefit copy for job description postings, and more to help you get started sharing more about this unique benefit. Considering Changing Resolution Rates? If your Y is considering adjusting it’s contribution rate to the 401(a) Retirement Plan, please connect with the Y Relations team early – even if you have been through the process before. Contacting us early allows our team to take the necessary steps to implement your changes in a timely manner. Reach out at yrelations@ymcaret.org. February 2025 Changing Payroll Cycles and/or Payroll Providers If your YMCA is considering or has already decided to switch payroll providers or adjust the payroll cycle, please reach out to our Pension Representatives as soon as possible. Connect with them via Live Chat or by calling 800-RET-YMCA (800-738-9622) from Monday to Friday, between 9am and 5pm EST. Tax Time: Remind Your Staff about the Saver’s Credit Members of your staff who saved with the YMCA Retirement Fund’s 403(b) Savings Plan in 2024 may be eligible for the Retirement Savings Contribution Credit, or Saver’s Credit, when they file their taxes. The Saver’s Credit rewards saving for retirement with a valuable credit that can either increase their refund or reduce the amount of taxes owed. The eligibility and the credit amount someone qualifies for varies depending on the retirement plan, amount contributed, adjusted gross income, filing status, and other factors. Read More about Saver’s Credit in the IRS website. November 2024 Now Available: 2025 Transmittal Calendar The 2025 Contribution Transmittal Calendar is now available in YERDI and on our website. Click here to directly access the calendar, and visit our website for additional information on your responsibility as the Local Plan Administrator to ensure timely remittance of contributions. If you have any questions, please contact the Y Relations team at yrelations@ymcaret.org. Understanding Universal Availability As a participating YMCA with Y Retirement, it is important that you understand your Y’s responsibility regarding the 403(b) Savings Plan. IRS regulations require that all 403(b) plans offering salary deferral contribution elections meet a Universal Availability Rule, which is the blueprint to assure that all employees are notified of the opportunity to make elective deferrals. Click here to learn more. October 2024 Reminder: Complete Non-Discrimination Coverage Testing by 10/31/24 Y Retirement requires all participating YMCAs to complete a Non-Discrimination Coverage Testing form annually for the Plan year ending June 30. Please complete the process, and notify Y Retirement if you fail the testing by October 31, 2024. We encourage you to keep a copy of the form for your records should your YMCA be audited in the future. The Form and Instructions are located in the Home screen of YERDI. August 2024 eLearnings are on YERDI! We recently launched our new Learning Center with re-imagined eLearning courses. Now, all 6 eLearning courses are available in YERDI! This allows you as your Y’s plan administrator to quickly access these courses to further your own understanding of the benefit. Simply go to YERDI, click the Home tab, and Learning Hub.