Employees can get direct support to assess their finances

Employees can get direct support to assess their finances

By Life@TheU

Employees can get direct support to assess their finances

By Life@TheU

Now is the time to look at your overall well-being, including your finances. Fidelity and TIAA are offering University of Miami employees a variety of resources to support their financial goals. From one-on-one support to webinars and new benefits offered through CARE Act, the following offers support. As part of your strategy for good financial health—which may include keeping a budget, paying off debt, and having a savings plan—you may need to think about your future and invest for it.

Get one-on-one support.  

Fidelity and TIAA representatives are available to help you during these difficult times and are ready to answer your questions regarding your retirement account(s). The University’s retirement representatives are hosting sessions via teleconference. To discuss your retirement portfolio, please contact your investment provider below and schedule an appointment.

  • Fidelity: 1-800-642-7131
  • TIAA: 1-800-842-2252

Sign up for a webinar.

If you’ve been watching the market and feel concerned about your retirement savings, consider attending a webinar to help you learn how to navigate volatile markets. These one-hour sessions with a Fidelity expert are designed to help you decide your next steps. Sign up for a time that works best using the following links.

Find tips to navigate volatile markets.

If you can’t make it to a webinar, consider these tips from the experts at Fidelity.

  • Keep your perspective, knowing that downturns are normal and typically short.
  • Get a plan you can live with–through market ups and downs. Pick an investment mix that aligns with your goals, timeframe, and financial situation, and ones you can stick with despite market volatility.
  • Focus on time in the market–not trying to time the market. It can be tempting to try to sell stocks to avoid downturns, but it’s difficult to time it right.
  • Invest consistently, even in bad times. 
  • Get help to make the most of a bear market. Your financial adviser may be able to help you take advantage of the situation and can discuss adjusting your investment mix or taking advantage of opportunities when prices are low.
  • Consider turning your portfolio over to a professional through a managed account or all-in-one mutual fund if you are not comfortable with market risk.

To schedule a one-on-one consultation with a registered Fidelity representative, visit netbenefits.com/um or call 800-642-7131, Monday through Friday, between 8 a.m. and 9 p.m EST.

Learn about CARES Act COVID-19 benefits.

The U.S. government recently enacted legislation to provide support to employees who are impacted by COVID-19, either directly or through an eligible family member. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27. The CARES Act provides more flexibility for 403(b) distributions and repayments, and it waives certain medical costs related to COVID-19. Review the HR/Total Rewards COVID-19 FAQs to learn more.

Need help? Contact HR’s Total Rewards benefits team by completing the online form at miami.edu/benefits/ask or by calling 305-284-3004.