How to Enroll in the Basic Plan

Follow these steps to enroll in the Basic Retirement Savings Plan if you did not enroll as a new employee or when you were newly eligible. Please note: if you are a compulsory participant, you will not use Wolverine Access. Refer to the important note for compulsory participants below.

Go to Wolverine Access, click the Faculty & Staff tab, enter your uniqname and UMICH password to log in, click Employee Self-Service. If you have DUO two-factor authorization enabled, choose an authentication method to continue the log in process, and then follow these steps.

  1. Click the Benefits tile
  2. Under Retirement Self Service, click Initiate Ret Savings Elections
  3. Click the radio button for Select this option to Enroll/ Change/Cancel Your Basic Retirement Savings Plan or your Supplemental Retirement Account (SRA)
  4. Click Next
  5. Review the effective date and then click Continue to proceed
  6. Click Select at the bottom of the page
  7. Click Edit for the “Voluntary Retirement” option
  8. Click Basic Retirement Savings Plan
  9. Click Store
  10. Review your elections and then click OK
  11. Click Edit for the “Retirement Vendor” option
  12. Enter your vendor allocation and then click Store.
  13. Review your elections and then click OK
  14. Click Submit to save your elections.
  15. Read the information on the page, and then click Submit at the bottom of the page
  16. Review your confirmation number and submitted elections
  17. Click Return to Enrollment and review your enrollment status
  18. Click Sign Out at the top of the window to close self-service, and then click Log Out to securely exit Wolverine Access. If you are on a public computer, click Log Out again to securely log out of all U-M weblogin applications.
  19. Select your investment funds and designate your beneficiaries by visiting the TIAA and or Fidelity Investments websites for the U-M plans.

IMPORTANT

You need to designate your investment fund choices and beneficiaries separately for each type of plan in which you enroll.   Fund choices and beneficiary designations you have already made for one plan, such as the Basic Retirement Savings Plan, do not automatically carry over to the 457(b) or the 403(b) SRA (and vice versa).  You need to designate your beneficiary separately each time you enroll in a new type of plan.

Important: If You are a Compulsory Participant

If you are a compulsory participant in the Basic Retirement Plan (you are age 35 or older, with two or more years of eligible service, and you have a 100% appointment effort), and you would like to cancel the Reduced Benefit Option and contribute 5% and receive the 10% U-M match (or contribute 4.5% and receive the 9% match if you are subject to Paid Time Off as an employee of Michigan Medicine), you will use a paper form and not Wolverine Access. Download and complete the Cancel the Reduced Benefit Option form and return it as instructed on the form to enact the change in contribution rates.