Opting Out: Declining Automatic Features

Key Takeaway

Plan sponsors concerned about employees not saving enough for retirement can add an automatic contribution arrangement (automatic enrollment) or an automatic contribution Increase feature to their plan. If it’s not the right time for you to take advantage of these features, here are some instructions for declining participation:

Always read a fund’s prospectus before investing. Prospectuses are available on the participant website or by calling the Alerus Client Service Center.

Declining Automatic Contribution Enrollment

  1. 1

    Log into your retirement account. If you need help logging in, visit Retirement Account Access.

  2. 2

    From the Summary page, click the Change My Contribution link on the left menu bar.

  3. 3

    To decline participation in the plan, check the No deductions box next to the source you are declining. If your plan offers both Roth and traditional contributions, you will need to make elections separately.

Declining Automatic Contribution Escalation:

  1. 1

    Log into your retirement account. If you need help logging in, visit Retirement Account Access.

  2. 2

    From the Summary page, click the Change my Contribution link on the left menu bar.

  3. 3

    To decline automatic contribution increases, click the radial button next to Opt out of my automatic contribution increase for this year or No in the Auto increase column.