Wise Information for Higher Ed Employees



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The 403(b) Basics: Changing 403(b) Contributions

Changing 403(b) Vendors

  1. Contact new in-plan vendor to enroll.
  2. Complete a new Salary Reduction Agreement specifying that money will now go to the new in-plan vendor.

Transferring From One In-plan 403(b) Vendor to Another In-plan Vendor

  1. Contact the old in-plan vendor to determine the transfer procedure and if transfer penalties apply. If transfer penalties apply, one option is to delay the transfer until the penalty period ends.
  2. Contact the new in-plan vendor to learn their transfer procedure.

Changing 403(b) Contribution Amount

Complete and submit a new Salary Reduction Agreement.

Stopping 403(b) Contributions

Complete and submit a new Salary Reduction Agreement.

Timeline for 403(b) Plan Changes

Check with your employer to learn when the change will take effect.

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