There is no waiting period. You can enroll in the Plan at any time.

Please consider maximizing contributions to the GVSU 403(b) Plan before enrolling in the GVSU 457(b) Plan.

Enroll online at any time, or by calling the Fidelity Retirement Beneftis Line at 1-800-343-0860.

Your enrollment becomes effective once you elect a deferral percentage, which initiates deduction of your contributions from your pay. These salary deductions will generally begin with your next pay period after we receive your enrollment information, or as soon as administratively possible.

Through automatic payroll deductions, you may contribute up to 100% of your eligible compensation as pretax contributions. Sign up online by accessing the “Contribution Amount” section under “Quick Links” on NetBenefits^®, or by calling the Fidelity Retirement Beneftis Line at 1-800-343-0860.
Please consider maximizing contributions to the GVSU 403(b) Plan before enrolling in the GVSU 457(b) Plan.

A Roth contribution to your retirement savings plan allows you to make after-tax contributions and take any associated earnings completely tax free at retirement - as long as the distribution is a qualified one. A qualified distribution, in this case, is one that is taken at least five tax years after your first Roth 457(b) contribution and after you have attained age 59½, or become disabled or die. Through automatic payroll deduction, you may contribute between 1% and 100% of your eligible compensation as designated Roth contributions, up to the annual IRS dollar limits.

Find more information online within the "Plan & Learn" drop down and "Learn" section of NetBenefits^®.

You may elect to make a last-3-years catch-up contribution of up to double the contribution limit in effect (up to $47,000 in 2025). This contribution may be used in one or more of the three consecutive years prior to the year in which you attain normal retirement age under the Plan. This option gives you an opportunity to catch up on contributions you could have made but did not make in previous years or if you have reached age 50 or will reach 50 during the calendar year January 1 – December 31 and are making the maximum plan or IRS contribution, you may make an additional catch-up contribution each pay period. The maximum annual catch-up contribution is $7,500. Going forward, catch-up contribution limits will be subject to cost-of-living adjustments (COLAs) in $500 increments. See your Employee Benefits Office for more information. You may use only one of the catch-up provisions (age 50 or last-3-years) in a given year.

Starting in 2025, the SECURE 2.0 Act increases the limit for you if you have attained age 60, 61, 62, or 63 in a given calendar year. The limit for 2025 is $11,250.

You may defer $23,500, the maximum IRS limit in 2025, which applies to all employee and employer contributions in all 457 plans in which you participate.

You are always 100% vested in your own contributions to the Grand Valley State University 457(b) Plan, as well as any earnings on them.

To help you meet your investment goals, the Plan offers you a range of options. You can select a mix of investment options that best suits your goals, time horizon, and risk tolerance. The many investment options available through the Plan include conservative, moderately conservative, and aggressive funds. A complete description of the Plan’s investment options and their performance, as well as planning tools to help you choose an appropriate mix, are available online.

We encourage you to take an active role in the Grand Valley State University 457(b) Plan and choose investment options that best suit your goals, time horizon, and risk tolerance. If you do not select specific investment options in the Plan, your contributions will be invested in the JPMorgan SmartRetirement^® Income Fund Class R5 with the target retirement date closest to the year you might retire, based on your current age and assuming a retirement age of 65, at the direction of Grand Valley State University.

If no date of birth or an invalid date of birth is on file at Fidelity, your contributions may be invested in the JPMorgan SmartRetirement^® Income Fund Class R5. More information about the JPMorgan SmartRetirement^® Income Fund Class R5 options can be found online.

Target Date Funds are an asset mix of stocks, bonds and other investments that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed.

Fidelity^® Personalized Planning & Advice ("The Service")
Fidelity^® Personalized Planning & Advice is a retirement goal based managed account service with a team of portfolio managers who manage the investments in your workplace savings plan account. Based on your unique needs and goals, our team of professionals will create a plan that considers your total financial situation, put the plan into action, and work for you putting in the time, resources, and knowledge needed to keep you on track for retirement.

This includes:

• Regularly monitoring and rebalancing of your account
  
• Strategy refinement that supports you as your financial situation evolves
  
• Quarterly check-ins, which include your progress toward key milestones
  
• Personal planning dashboard that includes progress to retirement and other profile details

Although your plan account is intended for the future, you may borrow from your account for any reason.

Learn more about and/or request a loan online, or by calling the Fidelity Retirement Beneftis Line at 1-800-343-0860.

Withdrawals from the Plan are generally permitted when you terminate your employment, retire, reach age 59½, become permanently disabled, have an unforeseeable emergency, as defined by your plan.

You are permitted to roll over eligible pretax and after-tax contributions from another 401(k) plan, Roth 401(k) plan, 401(a) plan, 403(b) plan, Roth 403(b) plan, a governmental 457(b) retirement plan, or a Roth 457(b) plan account or eligible pretax contributions from another conduit individual retirement accounts (IRAs). A conduit IRA is one that contains only money rolled over from an employer-sponsored retirement plan that has not been mixed with regular IRA contributions.

Additional information can be obtained online, or by calling the Fidelity Retirement Beneftis Line at 1-800-343-0860.

Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

If you have not already selected your beneficiaries, or if you have experienced a life-changing event such as a marriage, divorce, birth of a child, or a death in the family, it’s time to consider your beneficiary designations. Fidelity’s Online Beneficiaries Service, offers a straightforward, convenient process that takes just minutes. To make your elections, click on the “Profile & Settings” icon in the upper right-hand corner, then select “Beneficiaries” and follow the online instructions.