Enroll In, Change, or Stop Your Deferred Compensation Contributions

Enrollment and changes to the State 457 Deferred Compensation Plan (Deferred Comp) are completed using paper forms. Use these forms and the brief instructions below to enroll in or make changes to your contributions to the Deferred Comp Plan. For questions, or to submit a completed form, contact University Payroll & Benefits (UPB).

Enroll or Re-Enroll

If enrolling for the first time, complete an Enrollment Form and a Beneficiary Form. See the table below for the five digit payroll code required on this form. Your deferral election will be effective no sooner than the first pay of the second month following the date the completed forms are received by UPB. See the Pay Periods and Payroll Codes link above for more information.

If you previously stopped your contributions and are now re-enrolling, complete an Enrollment Form. See the table below for the five digit payroll code required on this form. Your deferral election will be effective no sooner than the first pay of the second month following the date the completed forms are received by UPB. See the Pay Periods and Payroll Codes link above for more information.

If you would like to enroll in both Pre-Tax and Roth (after-tax), complete two Enrollment Forms – one for each option. Fill out Section D identically on each form. Your deferral election will be effective no sooner than the first pay of the second month following the date the completed forms are received by UPB. See the Pay Periods and Payroll Codes link above for more information.

Change Deferral Amounts

To change your deferral amounts, complete a Change Form. Complete the top of the form, and sections A, B, and C. Be sure to match Section A with your existing contribution type. See the table below for the five digit payroll code required on this form.

Stop Your Contributions

To stop your Deferred Compensation Plan contributions, complete a Change Form. Complete the top of the form, and sections A, B, and D. Be sure to match Section A with your existing contribution type, and select Revocation in Section B. See the table below for the five digit payroll code required on this form.

Change or Reallocate the Funds You Have Elected

To change or reallocate your funds, you will need to contact T. Rowe Price at 888-457-5770 or log on to their website.

Payroll Codes

Employees Paid Bi-Weekly

  • Urbana: 69902
  • Chicago: 69905
  • Springfield: 69908

Employees Paid Monthly

  • Urbana: 69900
  • Chicago: 69906
  • Springfield: 69907

Information provided on this site is general in nature about matters of interest to University of Illinois employees. This information is not legal, financial, or tax advice. You should consult with a legal, financial, or tax professional for assistance with your individual circumstances.