Your Merit Increase Can Be a Gift to Your Future Self

Once a year, many of us receive something valuable: a merit pay increase. It feels good — and it should. You've earned it.  But here's a question worth asking before that extra money quietly disappears into everyday spending: What if you let “your future self” share in that raise too?

The One Percent Habit

One of the simplest and most powerful retirement strategies costs you almost nothing. Each time you receive an annual merit increase, increase your 403(b) contribution by just 1%... That's it.

Here's why it works so well: because your merit increase is larger than your 403(b) contribution increase, your take-home pay still goes up. You're not choosing between today and tomorrow — you're investing in both. Over time, that single habit — repeated year after year — can quietly build a retirement fund that might otherwise feel out of reach. Add in your EverTrue retirement matchs contributions and the power of compound growth, and small decisions made today can become something truly meaningful down the road.

You don't have to be a financial expert. You just have to remember to make one small move when your merit increase comes through each year.

Next time you get that good news, log into your Voya Retirement benefits portal and bump up your contribution by 1%. Future you will be grateful.

See How It Works with these 3 Examples:

Annual Salary. 3% Merit Increase. +1% to 403(b). Take-Home Increase.

$35,000 +$1,050/yr $350/yr to retirement +$700/yr in your pocket

$45,000 +$1,350/yr $450/yr to retirement +$900/yr in your pocket

$55,000 +$1,650/yr $550/yr to retirement +$1,100/yr in your pocket

‍You win today. You win tomorrow.

‍For more information on your EverTrue retirement benefits, click here. ‍ ‍