FAQs for Change Retirement Elections

  1. What is the ‘Change Retirement Elections’ page used for?
  2. How do I access the ‘Change 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 Change Retirement Elections option, I am unable to. Why?
  9. I was hired in June of 2009. When I access the Change Retirement Elections option, the date 7/1/2010 appears in the date box. Why?
  10. 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?
  11. I am 22 years old and have been at the University for over a year. When I access the Change Retirement Elections page within self service, I am not seeing an option to enroll in either the Retirement UnMatch or Retirement Match plan. Why?
  12. How do I know if my retirement elections were changed?
  13. How can I get more information about Northwestern University employer sponsored retirement plans?
  14. What do I do if I am unable to update my retirement plan elections online?
  1. What is the ‘Change Retirement Elections’ page used for?

    Employees who are eligible for retirement plans may use Self Service 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 ‘Change Retirement Elections’ page?

    Use your NetID and password to log in to Self Service. Select Self Service>Benefits>Change Retirement Elections.

  3. How do I update or change retirement elections?

    While you are in Self Service follow the directions on each page.

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

    While you are in Self Service follow the directions on each page.

  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 Change 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 Change Retirement Elections option, I am unable to. Why?

    If you have not yet completed your New Hire elections using self service, you may not use the Change Retirement Elections option.

  9. I was hired in June of 2009. When I access the Change Retirement Elections option, the date 7/1/2010 appears in the date box. Why?

    Assuming that you are 24 years of age, your retirement elections are effective the first payroll period of the month after your one year service anniversary. The Change Retirement Elections option is displaying that effective date.

  10. 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 Change 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.

  11. I am 22 years old and have been at the University for over a year. When I access the Change Retirement Elections page within self service, 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.

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

    After successfully completing your retirement changes in Self Service you may print a Confirmation Statement showing your retirement elections. You may also access Self Service 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.

  13. 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.

  14. 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, 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 .