Open Enrollment: How the 403(B) works

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Open Enrollment is a good time to review your 403(b) Retirement Plan, a mandatory long-term investment program for eligible faculty and staff.

While you do not need to make any changes or elections to your retirement benefits during Open Enrollment, you can review your contribution rate and investment elections and make any necessary adjustments to stay on track to meet your savings goals.

You may make retirement plan changes at any time during the year by contacting Fidelity Investments, the university’s administrative services provider.

Participation and contribution rates vary depending on your eligibility, so be sure to review the Retirement Plan website for details.

Open Enrollment is Oct. 17-31 and all benefits-eligible employees must actively elect a plan. For more information, visit the Open Enrollment website.

Author: Admin