Commonly Asked Questions

This information is summary in nature and does not supersede your plan documents. Consult your plan documents for full eligibility and coverage details.

Q: When am I eligible to begin making contributions to my retirement plan?

A: Eligible individuals can begin making contributions to their Fidelity account in the first payroll period of the month after after completing the Fidelity online enrollment process. You need to have a shell account set up with Fidelity that is associated with the University of New England before you can begin making contributions. If you approved HR to set up the shell account at time of hire you may simply complete the online enrollment process and begin making contributions. If you did not authorize HR to set up the shell account, you will need to contact HR fist to request this and then can proceed with the enrollment process. See the Account Set up Guide for more information. Payroll will begin your contribution within 1 to 2 payroll periods after they receive notice of your enrollment from Fidelity.

Q: When am I eligible for matching contributions from the University?

A: Eligible participants may receive University matching contributions when they have been employed with the University for 12 months or if they have worked at another institution of higher education for 12 months. The University matches your contributions to a maximum of 8%.

Q: If I didn’t elect to start a retirement account when I was first signing up for benefits, do I have to wait for open enrollment to begin participation?

A: No, you do not need to wait for the general open enrollment to begin participation in the retirement account. If you approved HR to set up the shell account at time of hire you may elect participation at any time by completing the online enrollment process. If you did not authorize HR to set up the shell account, you will need to contact HR first to request this and then can proceed with the enrollment process. See the Account Set up Guide for more information. Payroll will begin your contribution within 1 to 2 payroll periods after they receive notice of your enrollment from Fidelity.

Q: When can I make changes to how much I am contributing to my retirement account?

A: You can make changes to your contributions at any time. To make changes you must log in to your online account and select the contribution amount tab or call Fidelity directly. Payroll will begin your contribution within 1 to 2 payroll periods after they receive notice of your enrollment from Fidelity.

Q: I have questions about Fidelity products. How can I get information from Fidelity?

A: To obtain information about products, you can contact Fidelity online or by telephone.

  • Telephone: (800) 343-0860
  • Online

Q: Where can I find out more information about the retirement plan?

A: The Summary Plan Description (SPD) can answer many of the questions you may have about your retirement benefit.