Enrolling or Making Changes
Eligible faculty and staff will are able to enroll in the 457(b) Savings Plan and make their elections. Here’s how:
- To enroll in the Plan, log on to Fidelity NetBenefits®. If you do not have a NetBenefits username and password, click on “Register” at the top of the page and then follow the prompts to create one.
- Choose “BU 457B PLAN” from the home page.
- Next select the “Contributions” Tab.
- On the next page select the “Deferral Election” link.
- On the Deferral Election page, you will be able to enter a monthly dollar amount to contribute to the Plan. Follow the instructions to confirm your contribution. The minimum election is $100 per month with a maximum election of $19,500 per month. Elections can be made in $1.00 increments.
- Once you have completed your deferral election, choose the link “View and update your investment elections” in the “Next Steps” box at the bottom of the page.
- On the Investment Elections page, follow the instructions to select your investments.
After you have enrolled, your 457(b) Savings Plan contribution will become effective on the first of the month following your enrollment.
Changes to Your Contributions
- You may increase, decrease, or stop your 457(b) Savings Plan contribution at any time during the year, with your new election taking effect in the month following your new election.
You may change your investment mix for your 457(b) Savings Plan at any time.
If you have any questions or need assistance with enrollment in the plan, contact Fidelity at 1-800-343-0860.