From Our Newsletters: A Change is Coming to the SRA Plan
Do you have a Supplemental Retirement Annuity (SRA) Plan? If so, you will be required to make a change to how you make contributions to this plan.
Currently the SRA plan allows contribution elections to be made as either a percentage or a flat-dollar amount, but any flat-dollar elections will have to be converted to a percentage by May 31, 2019.
This change comes as result of transition to Workday@Penn, a new human capital management system. With Workday, the University will use a new enrollment platform for its retirement plans. The new system will only accept contribution elections as a percentage of base pay.
If you need help with confirming or converting your SRA Plan contribution, please call the Penn Retirement Call Center at 877-736-6738, Monday-Friday 8am-5pm EST.