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New Employee Retirement Checklist

  1. ___ Before or at time of hire: Review the retirement plans available to University of Illinois employees.
  2. ___ Within first month: Attend a Retirement Orientation session.
  3. ___ Within six months from date hired: You may wish to consult your tax professional or financial advisor to discuss your retirement plan options and your personal goals.
  4. ___ Within six months from date hired: Choose your SURS plan option (Traditional, Portable, or Self-Managed) and submit enrollment materials to SURS. Reminder: This is a lifetime, irrevocable decision. If you do not make a selection, you will be placed in the Traditional plan by default.
  5. ___ Anytime: Decide if you want to enroll in the University of Illinois Supplemental 403(b) Retirement Plan. Find out more about the 403(b) investment company options, Fidelity and TIAA, or meet with an investment company representative on campus.
  6. ___ Anytime: Decide if you want to enroll in the State of Illinois 457(b) Deferred Compensation Plan.
  7. ___ Anytime or upon plan enrollment: If you are interested in doing so, consolidate or rollover eligible existing retirement plans from previous employers.
  8. ___ Upon plan enrollment: Designate beneficiaries for each of your retirement plans.
  9. ___ Anytime: Determine your eligibility to purchase service credit from former public employment or military service. You may want to purchase eligible service credit through payroll deduction now or in the future.

Maintained by University Human Resources | Contact Information | Last Update: 31-March-2016 | ID: 3115