Direct Deposit for
Retiree Monthly
Benefits
Fact Sheet: Direct Deposit for Retiree Monthly Benefits
Got questions?
Please send a secure message through your UC
Retirement At Your Service (UCRAYS) account at
retirementatyourservice.ucop.edu. You can also call the UC
Retirement Administration Service Center at 800-888-8267,
Monday through Friday, 8:30 a.m. to 4:30 p.m. (PT).
The fastest, safest and most ecient way to receive your monthly
UC retirement benet is to have it deposited directly to your
bank account. Your payments are deposited automatically, so
there is no waiting in bank lines or for a check to clear. What’s
more, your bank may oer incentives for using direct deposit.
This fact sheet explains how direct deposit works and how to
set it up.
3
How to Enroll in, Change or
Cancel Direct Deposit
How Direct Deposit Works
THE BASICS
Your entire benet must be deposited in a single account. The
university can’t send part of the benet as direct deposit and
part of it as a check. Nor can it send direct deposits to banks
outside the U.S.
WHEN FUNDS ARE AVAILABLE
UC sends the net amount of your monthly benet to your bank,
by way of an automated clearinghouse, so that the funds are
available to you on the rst of each month.
If the rst falls on a weekend or holiday, your deposit will be
available on the last banking day of the previous month, except
in December. The direct deposit date for December benet
payment is the rst business day in January.
To see all scheduled direct deposit dates for the year,
go to ucnet.universityofcalifornia.edu/retirees/
retirement-benet-direct-deposit-dates.html.
ACCESSING STATEMENTS
You can view and print your monthly income statements
by logging in to your account on UCRAYS and selecting "Benet
Payments" in the left menu. Statements are available on the rst
of each month and up to 18 months of statements are available.
ACCOUNT TYPES YOU CAN USE
You may use a checking, savings or trust account.
If you are using a trust account, it must be a grantor-type trust
established for your benet. The trust’s tax identication
number must be your Social Security number.
If you’re a UC employee and use direct deposit for your wages,
you can elect to continue the service when you make your
retirement election. If you don’t already use direct deposit, you
can sign up for it when you retire or anytime thereafter.
If you are retired, you may sign up, change or cancel direct
deposit at any time.
The most convenient and quickest way to sign up is online, by
logging in to your account on UCRAYS. Select "My Account" on
the left side menu and then click "Benet Payment & Taxes" and
follow the instructions.
You can also use the Direct Deposit for Monthly Benet form
(UCRS 160), available on UCnet.
If you use this form and want your benet deposited to a
checking or trust checking account, you must attached a voided
blank check with the name imprinted on it, or have your nancial
institution complete section 4, to conrm your account number
and nancial institution.
If you want your benet deposited to a savings or trust savings
account, your nancial institution must complete section 4 of
the form.
PROCESSING DEADLINES
Typically, for direct deposit to take eect at the beginning of
the following month, you generally must sign up by mid-month,
subject to processing deadlines. Until direct deposit takes eect,
your check will continue to be mailed to you.
If you decide to cancel direct deposit, it’s best to do so no later
than mid-month so the cancellation will take eect at the
beginning of the following month. Processing deadlines will
determine the eective date.
KEEP UC INFORMED OF CHANGES
Once you have direct deposit, you must notify UC right away if
you change your bank or bank account or update your direct
deposit online. You can make the change through your UCRAYS
account, or by contacting the UC Retirement Administration
Service Center at 800-888-8267. To avoid an interruption in
direct deposit, you may want to keep your old account open
until you’re sure that your direct deposit is being transmitted to
your new bank or account.
By authority of the Regents, University of California Human Resources, located
in Oakland, administers all benet plans in accordance with applicable plan
documents and regulations, custodial agreements, University of California Group
Insurance Regulations, group insurance contracts, and state and federal laws. No
person is authorized to provide benets information not contained in these
source documents, and information not contained in these source documents
cannot be relied upon as having been authorized by the Regents. Source
documents are available for inspection upon request (800-888-8267). What is
written here does not constitute a guarantee of plan coverage or benets —
particular rules and eligibility requirements must be met before benets can be
received. The University of California intends to continue the benets described
here indenitely; however, the benets of all employees, retirees and plan
beneciaries are subject to change or termination at the time of contract renewal
or at any other time by the University or other governing authorities. The
University also reserves the right to determine new premiums, employer
contributions and monthly costs at any time. Health and welfare benets are not
accrued or vested benet entitlements. UC’s contribution toward the monthly
cost of the coverage is determined by UC and may change or stop altogether, and
may be aected by the state of California’s annual budget appropriation. If you
belong to an exclusively represented bargaining unit, some of your benets may
dier from the ones described here. For more information, employees should
contact their Human Resources Oce and retirees should call the UC Retirement
Administration Service Center (800-888-8267).
In conformance with applicable law and University policy, the University is an
armative action/equal opportunity employer. Please send inquiries regarding
the University’s armative action and equal opportunity policies for sta to
Systemwide AA/EEO Policy Coordinator, University of California, Oce of the
President, 1111 Franklin Street, Oakland, CA 94607, and for faculty to the Oce
of Academic Personnel, University of California, Oce of the President, 1111
Franklin Street, Oakland, CA 94607.
Direct Deposit for
Retiree Monthly
Benefits
Fact Sheet: Direct Deposit for Retiree Monthly Benefits
Direct Deposit for
Retiree Monthly
Benefits
Fact Sheet: Direct Deposit for Retiree Monthly Benefits
1403 10/21