Form of Fiscal Year 2008 Director Retainer Deferral Agreement

Exhibit 10.4

Hewitt Associates, Inc.

Annual Retainer 2008 Deferral Election Agreement

Please complete this Annual Retainer Deferral Election Agreement (Agreement) and return a signed copy to Margaret Kuretich no later than December 31, 2007.

Name: SS#:

a8 I do not wish to defer my $75,000 annual retainer that will be earned and paid in 2008 and choose to receive payment as indicated below: ____ I wish to receive my annual retainer in cash.

____ I wish to receive my annual retainer in Hewitt common stock (Shares) based on the Fair Market Value of Hewitt Stock on the date the retainer would have otherwise been paid in cash. I understand this is a voluntary election.

(If you check this box and select a current payment in cash or stock, do not complete the remainder of this agreement- skip ahead to the bottom of the reverse side of this Agreement, date and sign, and return the Agreement as indicated above.)

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a8 I hereby irrevocably elect to defer 100% of my $75,000 annual retainer that will be earned in 2008. I understand that the amount deferred will be converted to Deferred Stock Units (DSUs) based on the Fair Market Value of Hewitt Stock as of the date the retainer would have otherwise been paid and will be subject to the terms and provisions outlined in this Agreement in the manner set forth below. (If you check this box, please complete the following sections of this Agreement, date and sign at the bottom of the reverse side, and return the Agreement as indicated above.)

Settlement Date(s)

In making this election, the following rules apply: ullet

You must elect the Settlement Date as of which your DSUs will be converted to actual Shares of stock and issued to you. ullet

The settlement of any vested DSUs will commence upon ...