Ongoing Contribution Change
Since the extra payment will increase your total annual income, consider making an ongoing increase to your biweekly payroll contribution. You can always reduce it at a future date, or you may find you become comfortable making that increase permanent. To create an ongoing increase, you can call (844) 523-2457 to speak with a customer service representative or log in to your account and do the following:
In the Retirement Income Projection Calculator, adjust the slider titled The amount of my pay I can save now to see how increasing your Plan contributions can enhance your retirement income.
When you’ve decided upon an amount, select Make Change Now for the new contribution amount to go into effect.
One-Time Contribution Change
You have the ability to change to your contribution amount for specific payday, then have your deferral automatically revert to the prior contribution amount once that payday has passed. To do this, you can call (844) 523-2457 or log in to your account and do the following:
Select the Account tab from the Home page.
Under the tab, select Contributions link.
Select Future Payday Contribution and follow the instructions.
For both options, you are able to designate your contributions as pre-tax or after tax (Roth) and you can establish your contribution as a dollar amount or percent of pay.
In order for your changes to go in effect, the latest date you can make changes is the previous month and two weeks before your desired date.
Please note that your entire contribution request amount will be rejected by the payroll system if:
You do not have sufficient gross pay to contribute the total requested amount; or
The elected contribution amount would take you over your annual contribution limit.