Benefits

Employees of Sponsored Programs Foundation (SPF) are eligible to contribute to a voluntary tax-sheltered annuity plan. The 403(b) program allows SPF employees to save toward retirement by investing pre-tax contributions in tax-deferred investments in either annuities or mutual funds, under Internal Revenue Code (IRC) Section 403(b). 

Questions or need help enrolling? Please email spf-hr-payroll@humboldt.edu

Principal Financial Group

Effective October 1, 2018, the Humboldt State University Foundation 403(b) TDA Plan (the Prior Plan) was merged into and became a part of the new Cal Poly Humboldt Sponsored Programs Foundation 403(b) DC Plan (the Surviving Plan) with all accrued benefits and account balances under the Prior Plan becoming accrued benefits and account balances under the Surviving Plan. The Sponsored Programs Foundation is and has been the Plan Sponsor of both plans. 

Upon approval of the Board of Directors, Principal Financial Group was selected to serve as the investment provider for the Humboldt State University Foundation 403(b) DC Plan. Below are a few helpful documents provided by Principal to assist with the transition:

• All Participant Notice sent 8/14/2018
• Handout - Account Access Guide to help you manage your retirement goals
• Handout - 1 on 1 Education Meetings with Principal

Principal Financial Group was onsite September 5th and 6th at Cal Poly Humboldt to meet one on one with our SPF employees and assist our with the transition. To view the slides from their on-campus presentation Click Here.

SPF's 403(b) Retirement Plan

SPF Employees will be eligible to receive a 10% Employer Contribution on the first day of the calendar month following eligibility criteria being met (if eligibility is met on the 1st of the month, enrollment will be that same day):

An Employee will become eligible to participate in the Plan after attaining age 21 and completing one (1) Year of Service. A Year of Service is credited for a twelve-month eligibility computation period during which the Employee completes at least 1,000 Hours of Service. 

The Employee's initial eligibility computation period begins on the Employee's date of hire and ends on the first anniversary of that date. If the Employee does not complete 1,000 Hours of Service during the initial computation period, eligibility will thereafter be determined based on the Plan Year. Upon satisfying the service requirement, the Employee will become a participant in the Plan on the first day of the next month.

*** Effective 1/1/2023 this will be our updated Summary Plan Description (SPD) ***

Who Is Eligible?

Employees become eligible to participate in the retirement plan after completing one Year of Service. A Year of Service is earned by working at least 1,000 hours during an eligibility measurement period.

Your first measurement period runs from your date of hire through the first anniversary of your hire date.

If you complete at least 1,000 hours during that period, you will enter the plan on the first day of the following month.

If you do not complete at least 1,000 hours during that period, eligibility will be measured based on each Plan Year (January 1 through December 31).

Once you complete at least 1,000 hours during a Plan Year, you will enter the plan on the first day of the following month.

Example: An employee hired on March 15, 2023 works 900 hours through March 14, 2024 and does not satisfy the eligibility requirement. The employee then works more than 1,000 hours during the 2024 Plan Year and becomes eligible to enter the plan on January 1, 2025.

Once you satisfy the eligibility requirements and enter the plan, you will continue to participate while you are still employed by SPF, even if you have a break in eligibility service (occurs when you do not work more than 500 hours) or have a reduction in time base. 

SPF employees will not be eligible to participate in the retirement plan if they fall into one of the following categories:

• You are eligible to participate in a 401(k) or another 403(b) plan sponsored by Cal Poly Humboldt under which you can make employee contributions. (Category E – Stateside Employees)
• You are a student performing services for Cal Poly Humboldt Sponsored Programs Foundation and where you are pursuing a course of study with Cal Poly Humboldt. (Category C – Student Employees)

All other categories of SPF Employees will be eligible to participate in both the Elective Deferrals (voluntary) and/or receive the Employer Contributions.

Employees of Sponsored Programs Foundation (SPF) are covered for any injury/illness arising out of or in the course of employment, at no charge to the employee. Sedgwick CMS Services is the plan administrator for workers' compensation.

If an employee qualifies for workers' compensation, all approved medical bills will be paid in addition to any temporary or permanent disability payments to which an employee is entitled.

If an employee is unable to work as a result of a work-related injury or illness, he or she may be eligible to temporary disability payments which are paid at the rate of 2/3 of wages.  All job-related injuries or illnesses should be immediately reported to the employee's supervisor or Human Resources.  Please refer to the Injury and Claims Reporting Process "Guide".

Employees will be given an Employee's Claim for Workers' Compensation Benefits form to complete and return to Human Resources. Supervisors are required to complete a Supervisor’s Work Injury/Illness Report and return to Human Resources within 24 hours of the occurrence of the illness/injury.

If emergency care is required, employees should seek services from Mad River Hospital Emergency Room or St. Joseph's Hospital Emergency Room.  For SPF employees working out of the area, please seek services at any hospital emergency room. 

For non-emergency care, employees must contact Mad River Occupational Health Services to provide medical treatment for the first 30 days from the date of injury. For out of the area employees, please refer to the information provided in the SPF Injury and Claims Reporting Process "Guide".

However, if prior to an injury, Human Resources has been provided with a Predesignation of Personal Physician Form signed by a personal physician, employees may seek medical care from this physician immediately after injury. This pre-designation form is provided to employees upon hire. Under Labor Code Section 4600 (d) the designated physician must (1) be the employee's primary care physician, (2) have treated the employee in the past, (3) retain his or her medical records (including medical history), and (4) agree to be pre-designated. If you have any questions, please feel free to reach out to Easton Connell at eac52@humboldt.edu.

Forms:

• SPF Injury and Claims Reporting Process "Guide"
• Supervisor's Work Injury/Illness Report - Form STD 620
• Workers' Compensation Claim Form - Form DWC 1
• Predesignation of Personal Physician Form