How to Change Retirement Savings in Workday

1. Click Person icon in the top right corner and select 'View Profile'

2. Select 'Benefits' on the left hand side

Click 'Change Retirement Savings'

4. Select the Benefit Event Date and click 'Continue'

5. Click 'Continue'

6. Click 'Enroll' under the retirement savings plan (e.g., 401(k), 457, or 403 (b)) you wish to review or enroll in.

7. Click the 'Select' or 'Waive' Field.

8. Click 'Confirm and Continue'

9. Click here to choose your contribution type. You can select either 'Amount' to specify a fixed dollar contribution or 'Percentage' to contribute a percentage of your earnings.

10. To enter your contribution amount, click on the 'Contribution' field. You can specify either a fixed dollar amount or a percentage of your earnings. When deciding how much to contribute, consider your financial goals, current expenses, and retirement plans. It's important to balance your immediate financial needs with your long-term savings objectives. Make sure your chosen contribution aligns with your overall budget and future financial aspirations.

11. Click 'Save'

12. Click 'Enroll'

13. Click the 'Select' field located beneath the benefit plan you wish to enroll in. This action will initiate the enrollment process for your chosen plan, allowing you to proceed with providing any necessary information and completing your enrollment.

14. Click 'Confirm and Continue'

15. Click the 'Per Paycheck Contribution ($)' field to specify the amount you would like to contribute from each paycheck. This field allows you to enter a fixed dollar amount that will be deducted from your salary and allocated towards your chosen benefit plan. Make sure to consider your budget and financial goals when determining the amount to contribute.

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