How Do I Change the Amount of My Deferral?

Electing and Changing Deferral Amounts Tutorial

Changing your deferral amount is very easy and can be accessed on your home page:

  • Navigate to the home page under "Saving Rates" and select Change Savings.
  • Modify your savings amount, then select Save Amount.
  • A pop-up screen will show you your savings before and after the changes. Select Apply Changes to complete.

68s6es.gif

Set your desired savings amount. 

Note: Although deferral changes can be made on your Vestwell Savers portal, your tax withholdings would need to be made in your plan's payroll system. Make sure to check with your employer on how to change the number of allowances you want to claim on your W-4.

Not Sure How Much You Want to Save?

Consider your savings goals and time until you retire. Make sure you are saving enough; if your employer offers a match, contribute at least enough to take full advantage of that amount and increase your contribution a little each year. Of course, you can change your contribution often so that you are not stuck if your budget suddenly becomes too tight. You can choose a percentage or dollar amount of pre-tax and/or Roth (post-tax) dollars to contribute from your paycheck per pay period.

*These features may vary based on your company's retirement plan.