These instructions are horribly outdated.

Disclaimer: No advice about investment strategies is given; all examples are for demonstration purposes only.

403(b) Enrollment Instructions For Dummies


For employees at the University of Illinois at Urbana Champaign campus only.
  1. Go to the Benefits Center, pickup a 403(b) enrollment kit.
  2. Evaluate the Companiesí offerings. Choose one.
  3. Assuming you chose Fidelity, Go to www.fidelity.com and evaluate the funds listed on the back of the Fidelity sheet. Pick 2-4 funds to distribute your contributions among.
    1. Examples:
      1. 50% Capital Appreciation, 50% Spartan 500 Index
      2. 50% Growth & Income, 25% Spartan US Equity Index, 25% Spartan 500 Index
  4. Call Fidelity: 1-800-343-0860
    1. You want to enroll in a 403(b) program with the University of Illinois, headquarters are in Chicago.
    2. Answer all of the questions.
    3. When asked, provide the names of the funds you chose above and the percentages you would like to contribute to each.
    4. You should receive a packet in the mail from them within 1 week with the filled out form.
  5. Fill out the Salary Reduction Agreement (green sheet in 403b enrollment kit).
  6. Use the TDRP Salary Reduction Worksheet (on the back) to figure out the percent to deduct from your pay to contribute your target amount.
  7. Return the Fidelity 403(b) Account Application and the Salary Reduction Agreement to the Benefits Office.
  8. Examine your next paycheck to make sure the deduction has been done correctly.

Bask in the glory of having pretax savings and wait for the following years taxes to cost you less.

Disclaimer: No advice about investment strategies is given; all examples are for demonstration purposes only.
Last updated: 02/11/2002 cab