Brightli Retirement Savings Plan
Places for People, Inc. Employees
The Brightli Retirement Committee is pleased to announce an important enhancement to your 403(b) retirement benefit.
Following a comprehensive review of service providers, the committee has selected Voya as the new recordkeeper for your 403(b) plan. Significant criteria for the review of recordkeepers and selection of Voya include an improved participant experience and an assessment of plan fees.
The move to Voya will be effective as of January 13, 2025. With this transition, your retirement benefit plan benefit will now be called Brightli Retirement Savings Plan.
There will be a transition process for all participant accounts including a black-out period t hat will occur from December 27, 2024 - January 13, 2025. You should receive the transition notice at your home address after December 2, 2024. It is the Committee's goal to minimize disruption to participants and thoroughly communicate all relevant aspects of this transition. You will be provided with multiple opportunities to learn more about the transition process and plan enhancements. No action is required to make this move.
Benefits of this change include:
- Combined organization retirement plan for team members under the Brightli umbrella
- An upgraded digital experience with robust retirement resources through the Voya website, including personalized modeling tools to assist with your retirement and financial planning
- Additional investment options, including professionally managed solutions
Key benefits that will NOT change as a result of the transition:
- Matching contributions will remain at 100% up to 5% of your contributions (after 1 year of service), and 100% vested immediately
- Continued access to the CBIZ FIT team for individual one-on-one retirement consultations with a financial professional anytime
If you have previously made active election, your Places for People balance will be invested based on your current Voya elections.
If you have not yet enrolled and/or made investment elections, you will be invested into an age-appropriate Target Date Fund.
To review or make changes to your investment elections, visit voyaretirementplans.com > Investments & Research > Manage Investments.
Helpful Tools
Important information
View the new plan features for the Brightli Retirement Savings Plan.
Click here for a copy of the Plan's QDIA notice.
Click here for a copy of the Plan's fee disclosure.