Every month HR professionals and plan administrators receive an email from the Fund that highlights important topics, information and/or resources. Below are the previous six months:

March 2021 News for administrators

YMCA Participation Rates
In the past year, several YMCAs who temporarily lowered their contribution rates to the 401(a) Retirement Plan have requested the opportunity to compensate eligible employees when their Y’s current financial position has improved.

Any YMCA can always adopt a contribution rate between 8% and 12%. Beyond this, a Y can choose a contribution rate of 18%, fully paid, for as many payrolls as they wish.

If you would like to submit an inquiry about making a change to your Y’s contribution rate, please email yrelations@ymcaret.org.

Participants Can Manage Their Accounts Online
Participants can take advantage of the self-service features the Fund offers online, including…

– Viewing account balances
– Updating beneficiaries
– Changing contact information
– Applying for a loan and much more!

We have created a short video tutorial to teach participants how to create an online account.

February 2021 News for administrators

Promoting Retirement Benefits
The Fund is here to guide you in your role as Plan Administrator. We have compiled the following tools, resources and information to help you promote the Fund’s benefits:

– YMCA Best Practices
– Notice to New Hires
– Educational Materials for Staff
– 403(b) Universal Availability


Your Compliance Responsibilities
The YMCA Retirement Fund is regulated by the IRS, the Department of Labor (DOL), and the NY State Department of Financial Services. We pride ourselves on being fully compliant with all regulatory requirements. Part of this commitment is making sure YMCAs are compliant too. We have put together a guide with the primary responsibilities of a YMCA under the Plans of the YMCA Retirement Fund.


Employees With Previous Y Service
If an employee was previously enrolled in the Retirement Plan and returns to Y employment (at the same or another participating Y), enrollment in the Retirement Plan depends on their vesting status.


January 2021 News for administrators

IRS Form W-2
Any Y required to prepare IRS Form W-2 must check Retirement Plan in box 13 for all participants in the Retirement Plan and/or the Savings Plan.

In addition, all participants contributing to the 403(b) Smart Account must have the letter E along with the amount contributed for the year in box 12.


IRS 403(b) Universal Availability Rule
YMCAs must meet the Universal Availability Rule, to ensure all employees are notified of the opportunity to make pre-tax contributions to the 403(b) Smart Account upon their date of hire, and should remind existing employees of this opportunity at least once a year.


1099-R Tax Form Information
The Fund will mail 1099-R forms to YMCA employees who took a distribution or defaulted on their loan in 2020 by January 31, 2021.

We will be sending an email to those employees who will receive a 1099-R form to notify them when the tax form is available to access online. To access the form online when it becomes available they will be required to log in to their account to view and print the tax form. Once they log in, they should follow these simple steps to access the form:

  1. Select My Documents in the left-hand menu.
  2. Scroll down to find the 2020 1099-R tax form in the Tax Forms section.
  3. View and print the 2020 1099-R tax form by selecting the form in the Tax Forms section.

YERDI Fast Fact
Prior to uploading your payroll file into Eligibility Tracking, please ensure the paycheck date in the file (column AC) matches the pay date that you are working with in YERDI.

December 2020 News for administrators

2021 Transmittal Deadline Calendar
Please print this calendar to reference the 15th business day of each month, bank holidays, and the days on which the Fund is closed.


2021 Contribution Limits
The IRS has released the 2021 limits for retirement plan contributions that are adjusted by cost-of-living increases.


Open Enrollment
The Fund emails participants during open enrollment to encourage them to open or save more in a 403(b) Smart Account. If you would like your employees to receive this promotion, please make sure your open enrollment information is updated in the Home section under YMCA Profile in YERDI.

November 2020 News for administrators

Retirement Plan Eligibility
In order for YMCA employees to participate in the Retirement Plan, they must meet the eligibility requirements. Please be sure to review the eligibility section of our website to make sure you understand the rules and avoid any unforeseen liabilities. Eligibility in the Retirement Plan depends on:

  • Y service: Employees must complete 1,000 hours of service during each of any two 12-month periods, beginning with their date of hire or anniversary date. The two years do not have to be consecutive.
  • Age: Once employees complete the service requirement, they must be enrolled on the first day of the month following their anniversary date, provided they are at least 21 years of age. If the anniversary date falls on the first of the month, they are enrolled on their anniversary date.


Is your YMCA Merging?
If your Y is planning to merge with another Y, please connect with us during the planning stages. We can assist with questions regarding contribution rate options and opportunities as well as provide you with the required Certificate of Corporate Transaction form. This will ensure a smooth transition in YERDI for your staff. Please email our Y Relations team at yrelations@ymcaret.org for support.

YERDI Fast Fact
It is very important that the Fund be able to communicate with your YMCA’s senior managers as needed. Please take a moment to verify that the information that we have on record is correct by going to the Home Tab, clicking Tools and Resources and then clicking YMCA Officer Information Update. If any of the information is incorrect or missing, please provide us with the correct information.

To add a user to your YMCA’s YERDI Account, you must login to YERDI, go to the Home tab and click on Apply for new YERDI login.

After you have completed the form, an email will be sent to your CEO for approval. Once we receive authorization, the new user will receive an email notification to establish their login.

october 2020 News for administrators

National Retirement Security Month
October is dedicated to raising awareness on the importance of retirement savings and retirement security is the heart of the Fund’s mission.

The most effective way for employees to reach their retirement goal is to take advantage of the Fund’s 403(b) Smart Account, which offers all Y employees a direct path to retirement savings.

The Fund is structured to protect and preserve our participant’s savings even with market fluctuations. Account balances have never gone down since the Fund was established in 1922.


Open Enrollment and Benefits Fair Support
Our Y Relations team is here to support you by sending materials and/or offering virtual presentations. Please respond to yrelations@ymcaret.org to request materials and/or a presentation.

YERDI Fast Fact
The TD Catchup report in YERDI, under the Reports tab, can help you determine which employees are eligible to contribute an additional amount of money to the 403(b) Smart Account in order to “make up” for those career periods where they did not maximize their tax-deferred contributions.

The report lists the employees and the amounts they can contribute.