Financial To Do's

Remember to change any temporary elections.

If you adjusted your contribution to the 403(b) SRA or 457(b) by directing some or all of your lump sum payment, after the November pay, you must change it back to your normal lower deduction (if desired) or the new amount will be deducted from your December 30 pay as well. It does not automatically revert back!

If you do not already contribute, the amount you elected to contribute from the November lump sum payment will continue to be deducted with the December paycheck and beyond. Again, you will need to make a second election to lower or cancel the adjusted amount for the December 30 paycheck or it will continue to be deducted.

If you increased the number for withholding for November 's lump sum payment (W4), remember to change back in December. Each person's situation is different, please consult your tax professional before making any changes.  Your withholding can be adjusted at any time through Wolverine Access.