Employees who want to change the percent of their salaries they contribute to Vanderbilt’s retirement plan to take effect in April should submit Retirement Plan Election forms (Salary Reduction Agreement) to HR by March 31. Forms should also be submitted if you want to shift contributions between pre-tax and Roth (after-tax) contributions. Forms submitted by March 31 will take effect in April.
Forms do not need to be submitted if you do not want to change your contribution percentage or to transfer existing mutual fund balances to Fidelity. This will be done automatically during the transition. As a reminder, new contributions will no longer be made to TIAA-CREF, VALIC or Vanguard after March.
Changes to contribution percentages or type (Roth vs. pre-tax) cannot be made between April 1 and 13 as Fidelity prepares to transfer plan participants’ existing mutual fund balances into the new plan structure. Beginning in mid-April, changes can be made online using Fidelity’s NetBenefits website or by calling (800) 343-0860. Paper forms will no longer be required or accepted after March 31. The changes submitted online will take effect within one to two pay periods.
Fund selections for contributions beginning in April should also be made by March 31 on Fidelity’s NetBenefits website or by calling (800) 343-0860. You can find more information about Vanderbilt’s retirement plan transition on the Retirement Plan Transition website.