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2013 Tax-Deferred Savings Enrollment Information

Dear WMU Community,

The University provides all employees (i.e. benefits-eligible and temporary employees) of the University an opportunity to enroll in or change your contribution amount(s) in the optional 403(b) and 457(b) tax-deferred savings plans for the upcoming calendar year. These optional plans are a great way to save for retirement.

The plans work like this:

1. You decide how much money you want to invest, up to the maximum amounts allowed.
2. The funds are deducted from your paychecks before any federal, state, or city (if applicable) taxes are charged.
3. The funds are invested in a retirement account. You can choose from investment options offered by TIAA-CREF and Fidelity.
4. You do not pay any income taxes on your contributions or their earnings until you actually receive the funds as income.

If you are currently enrolled in one of the 403(b) plans and wish to continue your current contributions (percentage or flat dollar amount) you do not need to complete a new Salary Reduction Agreement. Your current plan will continue into 2013. However, your contributions will not automatically increase due to an increase in your maximum contribution limit.

Please note that if your plan(s) contribution(s) were stopped because you reached your maximum limit in 2012, you will need to sign a new Salary Reduction Agreement for calendar year 2013.

To enroll or change your contribution amount:

1. Determine the amount you wish to contribute in 2013; it can be any amount up to the maximum shown:

Your limits to each plan will vary depending on your age. If you are under age 50, your 403 (b) and 457 (b) maximum will be $17,500 for each plan.

If you are age 50 during calendar year 2013, your 403 (b) and 457 (b) maximum will be $23,000 for each plan.

If you have 15 or more years of University service, you may be eligible for an additional catch-up contribution.

Contact me at (269) 387-3580 or via email address: richard.schaper@wmich.edu to see if you qualify.

Please note the 15 or more years of service does not apply to the 457 (b) maximum limit.

2. If you are enrolling for the first time, you must also enroll online with TIAA-CREF or Fidelity to designate how your funds are to be invested.

   I strongly encourage you to meet with Jane Brady-Ertz, TGPC, Sanford Advisory Services before making that designation. Contact her at Jane.Brady-Ertz@RaymondJames.com.

   Please contact Sanford Advisory Services at (269) 488-6900, ext. 26, to obtain the online enrollment instructions.

3. Download the 2013 Salary Reduction Agreement from www.SanfordFinancialServices.com or www.wmich.edu/hr/forms.html under retirement related forms.

Fax the completed agreement directly to Jane Brady-Ertz at (269) 488-6100 or me at (269) 387-3441.

If you wish to have contributions deducted from your first paycheck of calendar year 2013, the completed Salary Reduction Agreement must be submitted no later than Friday, December 7, 2012.

To Meet With an Investment Advisor

Whether you are enrolling for the first time, are considering enrolling, or are a current participant, Jane Brady-Ertz is available to meet with you to objectively discuss your retirement savings and investment options either on campus or in her office. Visit www.SanfordFinancialServices.com to view the appointment schedule.

Sincerely,

Richard K. Schaper
Manager, Retirement Services
November 2012