Step-by-Step Enrollment for Plan: 457(b)
Step 1 — Review Deferred Compensation Retirement 457(b) Plan Information
Step 2 — Choose the Deferred Compensation Retirement 457(b) Plan contribution amount and investment vendor by accessing the Fidelity Net Benefits website.
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Fidelity Net Benefits
If you are a Fidelity or TIAA participant you will make your contribution and vendor elections by accessing Fidelity's participant portal. The Fidelity participant portal can also be accessed via Firefly - Employee Self Service by selecting the My Retirement Plan tile in the ESS Benefits section.
Once the account is established, you will be required to complete a new Deferred Compensation Retirement 457(b) Plan Salary Reduction Agreement each year as participation will end on December 31. Starting January 1, 2023 you will no longer be required to complete this process annually and unless you make changes your election will continue.
Step 3 — Access the website(s) of the Retirement Plan investment vendor(s) that you selected in Step 2 to complete your account application online.
Step 4 — Submission of Forms (includes deadline information)
- You must complete your Deferred Compensation Retirement 457(b) Plan Salary Reduction Agreement by the last working day of the month in order for that contribution to start the following month. For example, a Deferred Compensation Retirement 457(b) Plan Salary Reduction Agreement that is received by February 28 will be effective March 1. A Deferred Compensation Retirement 457(b) Plan Salary Reduction Agreement that is received on March 1 or later will be effective April 1.
- Your vendor online account application(s) must be completed by the last working day of the month in order for that contribution to start the following month.
- If both actions above are not completed by the last working day of the month, the request for a Deferred Compensation Retirement 457(b) account payroll deduction will not be processed.
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