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Home > Faculty & Staff > Human Resources > Benefits > Savings for Retirement > 403(b) and 457 Information > Six Steps to Set Up a 403(b)

Six Steps to Set Up a 403(b)

All of the following six steps are needed to set up a 403(b). You can click any of the underlined links to get additional information. For example, when you click the word "Vendor," you will be taken to the page that lists the vendors and their telephone numbers. For additional information or questions, email Eileen Sorenson at Esorenson@nvcc.edu.

  1. Select the vendor you want to use for your 403(b). Each vendor has a different way to enroll.
  2. Contact the vendor and request enrollment materials. (TIAA-CREF enrollment materials can be picked up in the Human Resources Department.)
  3. Fill out the enrollment form and send it to the vendor.
  4. Fill out a Salary Reduction Agreement and send it to Human Resources for payroll processing.
  5. Look for your deduction to begin in the next available pay period (remember that pay periods, not pay days, reflect the time when the deduction will start.)
  6. The monies are sent by a third party to the carriers within three days of the paycheck date. Allocations can be changed at any time using the instructions provided to you by your carrier.