Enrolling or Making Changes
If you would like to enroll in the Retirement Plan, please log on to Employee Self-Service via BUworks Central. Select the Benefits and Pay tab and then select the link for Retirement Plan Enrollment.
You will need a BU login account and Kerberos password to access the secure web pages. To learn more about setting up your account, please visit Information Services & Technology (IS&T).
When you log on, you will be able to:
- Enroll for the first time
- Open an account with an investment account administrator if you do not yet have an account with that investment account administrator, and you want to move some of your plan money to it
- Change your contribution amounts
Alternatively, if you wish to enroll using paper forms, you may print the forms or (upon request) forms will be mailed to you by Human Resources. Completed forms must be returned to the Charles River Campus Human Resources office. Only one method of enrollment is required: online or paper—not both.
Naming Your Beneficiaries
You will be able to name up to four persons or institutions/trusts as primary beneficiaries of your Retirement Plan account. For each person, you will be asked to provide their first and last name, date of birth, Social Security number, relationship, and percent of benefit that he or she is to receive. For institutions/trusts, you will be asked to provide the name, date established (trust date), trustee of the trust, and tax ID number. If you wish, you can also name contingent beneficiaries to receive your benefits in case your primary beneficiary(ies) predecease you.
If you are married, you are required by federal law to name your spouse as the beneficiary of 100% of your Retirement Plan account unless your spouse consents, in writing, to the designation of another person in addition to your spouse or instead of your spouse. Your spouse’s consent must be notarized or witnessed by a plan representative.
Before you log on, you may want to:
- Select your investment funds
- Based on the funds selected, choose Fidelity or TIAA-CREF as your investment account administrator
- Gather the information needed to name your beneficiary(ies)
- Set aside time to complete the online process
Changing or Stopping Your Elections
You may make changes in your elections online at any time. You will need a BU login account and Kerberos password to access the secure web pages. To learn more about setting up your account, please visit Information Services & Technology. Your changes will be reflected in the paycheck following the date of your online change or the date that Human Resources receives your election.
You may stop or resume contributions, or you may change from making before-tax contributions to making Roth contributions, or vice versa. You cannot take back any contributions or change their tax status once they are made.
Your ability to change your investment choices, or to transfer investments from one fund to another, depends on your initial choice of investments. Some funds (such as TIAA’s Traditional Annuities) have limitations on transfers out; other funds may restrict investments in and out within a short time to prevent market timing or other manipulative practices. You should review the restrictions in each fund carefully before making your investment decision.