FAQs for Change Retirement Elections

  1. What is the ‘Update My Retirement Elections’ link used for?
  2. How do I access the ‘Update My Retirement Elections’ page?
  3. How do I update or change retirement elections?
  4. How do I update or change investment company selections?
  5. How often can I change my retirement elections?
  6. Why can’t I waive my participation in the Retirement UnMatch Plan?
  7. Why can’t I update the beneficiary information for my retirement plans using this self service option?
  8. I was hired during the last month. When I try to use the Update My Retirement Elections link, I am unable to. Why?
  9. My Retirement Elections will not take effective until the middle of this year, once I’ve reached one year of service. However, before that time, I would like to make a change to them. Can I do that?
  10. I am 22 years old and have been at the University for over a year. When I access the Update My Retirement Elections link, I am not seeing an option to enroll in either the Retirement UnMatch or Retirement Match plan. Why?
  11. How do I know if my retirement elections were changed?
  12. How can I get more information about Northwestern University employer sponsored retirement plans?
  13. What do I do if I am unable to update my retirement plan elections online?
  1. What is the ‘Update My Retirement Elections’ page used for?

    Employees who are eligible for retirement plans may use the Self Service Portal to:

    • Newly enroll in Retirement Match or Voluntary Retirement;
    • Change current Retirement Match or voluntary Retirement deduction contributions;
    • Waive Retirement Match or Voluntary Retirement participation;
    • Change Retirement investment company selections;
    • If eligible, enroll or waive participation in the 457b Deferred Savings Plan.
  2. How do I access the ‘Update My Retirement Elections’ page?

    Use your NetID and password to log in to the Self Service Portal. Click the purple "My Benefits" menu on the left side, and then select Update My Retirement Elections.

  3. How do I update or change retirement elections?

    Simply follow the on-screen instructions on the Update My Retirement Elections page in the Portal.

  4. How do I update or change investment company selections?

    Simply follow the on-screen instructions on the Update My Retirement Elections page in the Portal.

  5. How often can I change my retirement elections?

    You may make retirement election changes as often as once a day. Any subsequent change that you make during a month will take the place of the earlier one. Whatever election is in place at the time that Payroll runs, is the one that will be used for deduction processing.

  6. Why can’t I waive my participation in the Retirement UnMatch Plan?

    Participation in the Retirement UnMatch Plan is mandatory. For this plan, the University contributes 5% of your eligible compensation without any contribution required on your part.

  7. Why can’t I update the beneficiary information for my retirement plans using this self service option?

    All retirement plan beneficiary information is held and maintained by the retirement plan vendors. You must change your beneficiaries for your retirement plans using the website for your retirement plan investment company. You will find links to your investment company within the Update My Retirement Elections option. Additional information may also be obtained In the benefits retirement section.

  8. I was hired during the last month. When I try to use the Update My Retirement Elections link, I am unable to. Why?

    If you have not yet completed your New Hire elections using the Portal, you may not use the Update My Retirement Elections option.

  9. My Retirement Elections will not take effect until the middle of this year, once I’ve reached one year of service. However, before that time, I would like to make a change to them. Can I do that?

    Yes, you can use the Update My Retirement Elections option to make any changes that you wish to those future enrollments. The effective date of these changes will be the same as the date of your original elections.

  10. I am 22 years old and have been at the University for over a year. When I access the Update My Retirement Elections link, I am not seeing an option to enroll in either the Retirement UnMatch or Retirement Match plan. Why?

    To be eligible for the Retirement UnMatch and Retirement Match plans, you must not only have a year of Northwestern service, but also be at least 24 years of age. When you have reached that age milestone and the plans are available for you to enroll in, the Benefits Division will contact you.

  11. How do I know if my retirement elections were changed?

    After successfully completing your retirement changes in the Self Service Portal, you may print a Confirmation Statement showing your retirement elections. You may also access the Portal at any time and review your retirement elections for a given date. In addition, after successfully changing your beneficiaries, you will be sent an automatic email to your campus email address, indicating that you have changed your retirement elections. You do not need to respond to this message.

  12. How can I get more information about Northwestern University employer sponsored retirement plans?

    Additional information about retirement plans may be found at the Benefit Division’s website.

  13. What do I do if I am unable to change my retirement information online?
    • To have your NETID password reset, call the NUIT Support desk at (847)491-4357.
    • If you are having difficulties logging on to FASIS Self Service Portal, contact the FASIS Help Desk at (847)467-4800.
    • If you have received an error message while using Self Service, please follow the directions provided in the error message. Questions related to these messages may be directed to the Benefits Division at (847) 491-7513 or by email to retirementsavings@northwestern.edu .