Get Salary Reduction Agreement Form - Human Resources - Illinois ...

Filling out the Salary Reduction Agreement Form allows users to authorize salary reductions for contributions to retirement plans. This guide provides clear, step-by-step instructions to help users complete the form online effectively.

Follow the steps to complete the Salary Reduction Agreement Form online:

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin by filling in your personal information, including your name, university ID number, mail code, department name, date of birth, and date of employment.
3. Indicate whether you have made contributions to any other 403(b) plan this calendar year and select the appropriate option: New Enrollment, Change Deduction, Change Vendor, or Stop Deduction.
4. In the 'Authorization to Make Salary Reduction Contributions' section, specify the percentage of your salary to be reduced and contributed to each vendor you have selected (Fidelity and TIAA-CREF). Ensure that these percentages meet the minimum requirement and do not exceed 100% of your includible compensation.
5. Understand that the effective date for this agreement will start as soon as administratively practicable after submission. Review the terms regarding changes and termination of the agreement.
6. Review the contribution limits detailed in the 'Applicable Plan Contribution Limits' section. Ensure your contributions align with IRS requirements and that you are aware of any catch-up contributions available based on your service years or age.
7. Complete the 'Additional Representations' section by acknowledging the understanding of the binding nature of this agreement and the responsibilities that come with it.
8. Sign and date the form, and ensure that the benefits signature section is completed for Human Resources.
9. Finally, save changes to the document, download a copy for your records, and print or share the completed form as necessary.

Complete and submit your Salary Reduction Agreement Form online today!