University Of Michigan Benefits Office

How to Enroll

Forms to Enroll
Complete and submit both of the following forms to enroll in the U-M 457(b) Deferred Compensation Plan:

Salary Deferral Agreement. This form indicates the amount you wish to contribute per pay period, which company to direct your contributions to, and the effective date.
Account application(s) for TIAA-CREF and/or Fidelity Investments. These forms indicate your specific investment fund choices at each company you choose, your beneficiary designation, and mailing address where you will receive quarterly statements.

Where to Get Forms
You may obtain enrollment forms from the HR/Payroll Service Center. You may also download them from the Benefits Office Web site: www.umich.edu/~benefits/forms/457b

Where to Return Forms
Return the Salary Deferral Agreement and the TIAA-CREF and/or Fidelity applications to the Benefits Office. Keep a copy of all forms for your records. Return only one set of the forms by either FAX or mail (i.e. if you send the forms by FAX you do not need to send the originals by mail).

Mail to:

University of Michigan Benefits Office
Retirement Plan Area
Wolverine Tower-Low Rise G405
3003 S. State Street
Ann Arbor , MI 48109-1278

or FAX to: 734-936-8835 (for faster service)

Effective Date

The Salary Deferral Agreement shall become effective as soon as administratively feasible with respect to compensation not yet earned, but not earlier than the first day of the month following the date this Agreement is filed with the Benefits Office.
Agreements filed on the first day of the month or later are made effective no earlier than the following month.
By checking “First Available Pay Period,” elections shall take effect the month following the date the Agreement is filed with the Benefits Office. For bi-weekly paid staff, Agreements filed on or after the 15th day of any month are generally made effective no earlier than the second pay period of the following month.
You may list a future pay date as your effective date if you want to target a specific future payroll period instead of your first available pay period. If you check no box, the default will be First Available Pay Period.

Canceling, Increasing or Reducing Your Salary Deferral
Elections to cancel, increase, or reduce your existing salary deferral contribution are effective no earlier than the month following the date your Agreement is filed with the Benefits Office.

Limitations
The University in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their spouses, partners, and dependents. Although the University has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. Nothing in these materials gives any individual the right to continued benefits beyond the time the University modifies, amends, or terminates the benefit. Anyone seeking or accepting any of the benefits provided will be deemed to have accepted the terms of the benefits programs and the University's right to modify, amend or terminate them.