Enroll or Edit: Mandatory Retirement
What You Need to Know:
The mandatory retirement plan* feature of myUK Employee Self-Service(ESS) allows to allocate your mandatory 5% employee contribution to your UK 403(b) account among one or both UK retirement carriers (TIAA-CREF and Fidelity Investments). Employees age 30 and over are required to participate in the University's retirement savings program, with a 5% employee contribution automatically matched by a 2-for-1 (10%) employer contribution by UK. For more information on the retirement savings benefit, visit this page.
- Login to the myUK ESS portal at myuk.uky.edu. If you need help, visit this guide first.
- To access the Mandatory Enrollment feature, first click on the "Benefits and Payment" menu item.
- Click on the "Benefits" link.
- Click on "Mandatory Retirement" on the "Benefits and Payment" main menu.
- Click on the "Enroll" radio button and the "Add Plan" button if enrolling in a plan for the first time OR "Edit Plan" or "Remove Plan" to update your current plan(s).
- The following page will require you to enter your preferred allocation to the retirement carrier(s) you choose (5 percentage points allocated to one or split between the two carriers, in full percentage point increments). Specify the percentage allocation for this carrier, then click on the "Add to Plan" button. NOTES: YOU MUST COMPLETE ALL OF THE STEPS BELOW IN ORDER TO SAVE YOUR CHANGES.
- IMPORTANT: To save your changes, click on the "Review Enrollment" button that appears on the following page then continue to step 6.
Click on the "Save" button to complete your update.
Helpful tip: Enrolling in a plan for the first time? Visit Fidelity and TIAA-CREF online to select funds and enroll beneficiaries. Click on the plan carrier enrollment link from the TIAA-CREF or Fidelity "Edit Plan/Review Enrollment" screen. This will allow you to complete your enrollment on the plan carrier's web site(s), which will include selecting investments and designating retirement plan beneficiaries.