Getting Started as a New Hire

You may enroll in the Basic Retirement Plan using Wolverine Access when you select your other benefits as a new hire. However, you need to create a separate enrollment event to enroll in the 403(b) SRA and another for the 457(b). You will need three separate events if you wish to enroll in all three plans. Each enrollment is processed overnight after you enter your elections; allow up to 24 hours between enrolling in each type of plan.

View the Retirement Savings Plan Enrollment Guide for an overview.

Temporary employees may enroll in the 403(b) SRA by completing the Salary or Annuity Option Plan Agreement.

Please note: Enrollment is not automatic; you must affirmatively enroll. Your U.S. Social Security Number must be on file with Wolverine Access or your contributions will be rejected.

Enrollment Process

Follow these steps to enroll in the U-M retirement savings plans. You will receive an email with a confirmation number immediately after you have successfully submitted your election. You have not completed the process if you do not receive this email and no changes will take effect. For help with making retirement savings plan elections in Wolverine Access, call the SSC Contact Center. Call 5-2000 from the Ann Arbor Campus, 734-615-2000 from the local Ann Arbor area, or 1-866-647-7657 for toll-free long distance. The SSC Contact Center is open Monday - Friday 8:00-5:00.

Step 1: Enroll in the Basic Retirement Plan
Select Employee Self-Service > Benefits in Wolverine Access

Select Benefits Enrollment

Follow the screen prompts

When you complete the enrollment process using Wolverine Access a notice will be sent to TIAA or Fidelity Investments (or both) to create your account(s) for the Basic Retirement Plan, 403(b) SRA and 457(b) as applicable. You will need to designate your beneficiaries with TIAA and Fidelity and select your investment fund choices, if you wish to change from the default investment fund.
Step 2: Enroll in the 403(b) and 457(b) Plans
You need to create a separate enrollment event for the 403(b) SRA and 457(b) plans since they are not part of the new hire event that you use to enroll in the Basic Retirement Plans:

Select Employee Self-Service > Benefits in Wolverine Access

Select Initiate Ret Savings Elections

Follow the screen prompts

When you complete the enrollment process using Wolverine Access a notice will be sent to TIAA or Fidelity Investments (or both) to create your account(s) for the Basic Retirement Plan, 403(b) SRA and 457(b) as applicable. You will need to designate your beneficiaries with TIAA and Fidelity and select your investment fund choices, if you wish to change from the default investment fund.
Step 3: Select Your Funds and Beneficiaries
Your beneficiary and investment fund for the Basic Retirement Plan, 403(b) SRA and 457(b) will be a default until you take action to change them.

The investment fund default is an age-appropriate Lifecycle Index Fund if you select TIAA and a Freedom Index Fund if you select Fidelity Investments. If you do not have a U.S. street mailing address, the default investment fund for TIAA will be CREF Money Market.

Designating a beneficiary is critical to ensure that your retirement account is paid to the person you choose in the event of your death, and it helps avoid legal disputes over your account. If you don’t designate a beneficiary for the retirement savings plans, for both TIAA and Fidelity the account will be paid according to person or persons surviving you in the following order: spouse, children, parents, siblings, personal representative (executor or administrator).

Your beneficiary designations do not carry over between plans, between investment companies, or from life insurance to the retirement savings plans. In addition, enrolling in Wolverine Access does not automatically declare your beneficiary to TIAA or Fidelity. You need to make your fund and beneficiary designations for each type of plan in which you enroll and for each investment company you select.

Select Your Funds and Beneficiary with TIAA

You can create your account, select your investment funds and designate your beneficiary online at any time instead of waiting for your welcome packet by going to tiaa-cref.org/umich.

Select “Enroll Now”

Click on the type of plan for which you are creating an account: Basic Retirement Plan, 403(b) SRA, 457(b).

Follow the online prompts and enter your selections.

Call TIAA at 1-800-842-2252, Monday through Friday from 7 a.m. to 9 p.m. and Saturday from 8 a.m. to 5 p.m. (CT). A consultant will help you make the appropriate beneficiary designations for your retirement planning needs and record your investment fund selections.

Select Your Funds and Beneficiary with Fidelity Investments

You can create your account, select your investment funds and designate your beneficiary online at any time instead of waiting for your welcome packet by going to netbenefits.com/uofm.

Select “Enroll”

Click on the type of plan for which you are creating an account: Basic Retirement Plan, 403(b) SRA, 457(b). NOTE: You will need to open an account under two different plans for the Basic Retirement Plan. Open an account under 401(a) Base Plan 86503 for the U-M contribution and open an account under 403(b) Base Plan 72104 for your contribution.

Follow the online prompts and enter your selections.

Contact a Fidelity Retirement Services Specialists by calling 800-343-0860, Monday through Friday, 8:00 a.m. to midnight, Eastern time if you have questions or need assistance.

Questions About Your Benefits?

Call the SSC Contact Center at 5-2000 from the Ann Arbor campus, (734) 615-2000 locally, or (866) 647-7657 toll free, Monday through Friday from 8 a.m. to 5 p.m.

Limitations

The University of Michigan 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 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. Every effort has been made to ensure the accuracy of the benefits information in this site. However, if any provision on the benefits plans is unclear or ambiguous, the Benefits Office reserves the right to interpret the plan and resolve the problem. If any inconsistency exists between this site and the written plans or contracts, the actual provisions of each benefit plan will govern.

Getting Started as a New Hire

Enrollment Process

Select Your Funds and Beneficiary with TIAA

Select Your Funds and Beneficiary with Fidelity Investments

Questions About Your Benefits?

Limitations

Benefits Office

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