Announcements

 

RETIREMENT PLAN-AUTO-ESCALATE

Effective July 1, 2021, employees who are currently contributing less than 8% into their 403(b) will have an automatic increase of 1% withheld from their paycheck as part of their own contribution. If you do not wish to participate in the automatic increase program, you may opt-out online, by phone or through an AIG financial advisor. Click here for further instructions on opting-out. 

RETIREMENT PLAN-TARGET DATE FUND CHANGE

Effective March 16, 2021, all Vanguard Target Date Funds will transition to new investment funds.These changes result in lower fees for participants! 

Fund Change Letter

403b-Fund Exchanges

401a-Fund Exchanges

ANNUAL MBI RETIREMENT & MATCH SAVINGS PLAN NOTICES

Federal regulations require MBI to display the following notices to all eligible employees who participant in the Institute-sponsored retirement plans. These documents are for informational purposes only regarding our eligible automatic contribution arrangement (EACA) and qualified default investment alternatives (QDIA) for 2021. No action is needed. 

Employees who have questions may contact Peter Miller in Human Resouces at 312-329-4297 or peter.miller@moody.edu.

MBI Retirement Plan (403b) – Automatic Contribution Arrangement

MBI Match Savings Plan (401a) – Qualified Default Investment Alternative

PARTICIPANT FEE DISCLOSURES

Federal regulations require you receive information regarding the investment options offered in the MBI Retirement Plan and the MBI Match Savings Plan. This information can assist you in making critical decisions regarding your retirement plan, including how much to contribute and how to invest your account — decisions which are key to the success of your retirement savings.

Participant Fee Disclosure

ANNUAL NOTICE OF UNIVERSAL AVAILABILITY NOTICE

The Notice of Universal Availability describes your right to make Salary Deferrals (if you are eligible for the Plan), the procedures for electing to make Salary Deferrals Reduction Contributions and the tax advantages of making contributions to the Plan.

2021 Annual Notice of Universal Availability

SUMMARY ANNUAL REPORTS

A Summary Annual Report (SAR) is a condensed version of the Form 5500 report and is available for both the MBI Retirement Plan and the MBI Match Savings Plan. 

MBI Retirement Plan (403b) - SAR

MBI Match Savings Plan (401a) – SAR

ANNUAL PRESCRIPTION DRUG COVERAGE & MEDICARE NOTICE 

By law the Moody Bible Institute is required to provide a “Creditable Coverage” notice for all full-time Medicare eligible employees and their dependents.  This notice has information about your current prescription drug coverage and your options under Medicare's precription drug coverage.

Remember:  Keep this Creditable Coverage notice.  If you decide to join one of the Medicare drug plans, you may be required to provide a copy.

Employees who have questions may contact Peter Miller in Human Resouces at 312-329-4297 or peter.miller@moody.edu.

2021 Medicare Part D Notice

ANNUAL AUTO-ESCALATE NOTICE

Beginning July 1, 2020, employees who are currently contributing to their AIG retirement account will have an automatic increase of 1% withheld from their paycheck as part of their own contribution and sent to the MBI Retirement Plan (403B).  This increase will only affect the employee’s contribution and it will plateau once it reaches 8% of pay. 

Employees may elect to opt out of the 1% increase by accessing their online AIG account between Wednesday, July 1 to Friday, July 10. See our opt-out guide for instructions. For questions about opting out of the increase or further assistance with the AIG website, please call  AIG Retirement Services at 1-800-448-2542.   

ANNUAL PENSION PLAN NOTICES 

This notice is for employees who have either been grandfathered into the MBI Pension Plan or have a frozen benefit in the plan. This document contains specific information about the assets, liabilities and funding status of the MBI Pension Plan. This document is for informational purposes only. No action is needed. 

2020 Pension Plan Funding Notice

2019 Pension Plan Annual Return/Report (Form 5500) 

ANNUAL EMPLOYEE BENEFIT NOTICES

Employees may view our annual policy and legal notices regarding:

  • Availability of Summary Health Information
  • Children’s Health Insurance Program (CHIP)
  • Paperwork Reduction Act Statement
  • HIPAA Notice of Privacy Practice
  • Notice of Special Enrollment Rights under HIPAA
  • Notice of Women’s Health and Cancer Right’s Act
  • Newborns’ and Mothers’ Health Protection Act
  • Continuation Coverage Rights Under COBRA
  • Notice of Marketplace Coverage Options
  • Wellness Program Disclosure 

2019 Annual Employee Benefit Notices

For all COVID-19 announcements and resources, please visit our COVID-19 Resources page.

Human Resources Office