How do I enroll as a New Hire or make changes in a Retirement Plan?
Important Note: Regarding Effective Date of Retirement Plan Enrollment or Changes.
If you are paid on the Salary (monthly) payroll - your requested retirement action will be effective today. Depending on the payroll processing date, you may not see this change reflected in your current month's paycheck. If the requested change is not reflected in the current month's paycheck, you will see an adjustment in the next month's paycheck. This may result in an additional reduction if you are increasing or newly enrolling, or a refund if you are decreasing or canceling.
If you are paid on the Labor (bi-weekly) payroll - your requested retirement action is effective today. You will see the change reflected in the paycheck for the pay cycle that includes today's date. This may not be your next paycheck.
The following instructions and presentations are provided to assist you in enrolling or making changes to your MSU retirement plan(s).
- Enroll With New Investment Vendor
- Change or View Your Current Contribution Amount
- Cancel Your Current Contribution Amount
- Change Your Investment Vendor
- Change Your Investment Election (Allocation)
- Instruction to Access Retirement Changes within EBS
Enroll with New Investment Vendor
The following steps and tutorial are provided to assist you in enrolling in a retirement plan.
- Tutorial for New Enrollees - provides step by step instructions on how to enroll.
- Access the EBS Login, then use the Employee Self Service (ESS) tab, to select your plan, investment vendor and contribution amount. Employees will receive an email confirmation upon completion of the retirement enrollment process in EBS.
- MSU will automatically provide the necessary information to the investment vendor, with your first contribution, to open your MSU account. The investment election will default to an age appropriate Target Date Retirement Fund.
- You will need to access your account with the vendor to name your beneficiary(ies).
- If you prefer, you can open the account yourself, select your investment elections and name your beneficiary(ies) by choosing the appropriate investment vendor microsite to enroll.
- MSU Retirement Plan Enrollment Guide
Change or View Your Current Contribution Amount
The following steps and tutorial are provided to assist you in making a change to a current deferral amount or to view your current plan participation.
- Tutorial to Change or View Your Current Contribution Amount - provides step by step instructions on how to make changes or view your current elections.
- For a change: Access the EBS Login, then use the Employee Self Service (ESS) tab, to select the plan you want to change and enter the new amount. Employees will receive an email confirmation upon completion of a change in EBS.
- To view: Access the EBS Login, then use the Employee Self Service (ESS) tab, to select Participation Overview. Select the plan you wish to view to see details.
Cancel Your Current Contribution Amount
The following steps and tutorial are provided to assist you in canceling your current contribution amount.
- Tutorial to Cancel Your Current Contribution Amount - provides step by step instructions on how to cancel a contribution amount.
- Access the EBS Login, then use the Employee Self Service (ESS) tab, to remove the plan you want to cancel. Employees will receive an email confirmation upon completion of a cancellation in EBS.
Change Your Investment Vendor
The following steps and tutorial are provided to assist you in changing your investment vendor selection.
- Tutorial to Change Your Investment Vendor - provides step by step instructions on how to change your investment vendor.
- Access EBS Login, then use the Employee Self Service (ESS) tab, to remove the current vendor and then add the new vendor. Employees will receive an email confirmation upon completion of a change in EBS.
Change Your Investment Election (Allocation)
Investment Elections (allocations) may be changed at any time directly with your investment vendor. You investment vendor will provide access to your account online or you may contact their customer service center.
Instruction to Access Retirement Changes within EBS
Instructions may vary depending on the transaction desired. See specific actions for detailed tutorials. You should receive an email communication from Human Resources when an action is completed that impacts your salary deferral.
- Access the EBS Login
- Login in with your MSU NetID and password
- Select your Employee Self Service (ESS) tab
- Select Benefits
- Select Retirement Enroll - if you are viewing elections, making changes or enrolling in a base, supplemental or deferred compensation plan
- Select Vol BRP or Mand BRP - if newly enrolling in the 403(b) Base program within 60 days of hire, new eligibility or mandatory participation
- Use the radial button to select the plan you want to impact
- Select Add Plan, Edit Plan, or Remove Plan button (if removing continue to Step 11)
- Indicate the pre-tax amount or percentage
- Select Add Plan to Selection
- Select Review Enrollment
- Select Save to update your elections.
