Automatic 403(b) Enrollment and Escalation Features Effective January 2024
Posted in Announcements
As announced in November 2023, in 2024 the university is taking additional steps to encourage employees to increase their retirement contributions. The changes below are now in effect and apply to all employees eligible for the Defined Contribution Retirement Plan (DCRP). While these changes occur automatically, they are completely voluntary.
You have the ability to opt out or adjust your retirement savings options in GMS at any time. If you would like to make changes prior to your first pay check in January and are paid on a biweekly schedule, updates must be entered in GMS by Sunday, January 7 2024. If you are paid on a monthly schedule, updates entered by Tuesday, January 23, 2024 will be reflected in your January pay.