Take advantage of retirement benefits

Take advantage of retirement benefits

By Life@TheU

Take advantage of retirement benefits

By Life@TheU
Here’s what you should know about retirement at the U.

Saving for retirement can look different depending on your goals and where you are in your career. Whether you’re planning to retire in five, 10, or 25 years, it’s important to plan early and it’s never too early or late to start saving. Explore the resources that are available to University faculty and staff members and ensure that you are enrolled to maximize your contributions and savings. 

Where to start?

Benefits-eligible faculty and staff members have access to retirement plans with generous University contributions. If you’re looking to increase your savings, making your own contributions will help you reach your goals. University retirement plans vary by employee locations and role. Learn more about the different plans available to you, review your current contributions, and start or increase your savings today.

Get one-on-one coaching from Fidelity and TIAA.

Whether you want to learn more about your current retirement plan, explore new investment options, manage unexpected expenses, or simply speak to an expert about your retirement goals, University employees can  get professional advice and access tools with the help of experts at Fidelity Investments and TIAA. As part of your retirement benefits, virtual appointments are offered at no cost and can be scheduled at your convenience.

Fidelity participants can schedule a virtual appointment, review and make adjustments to their retirement contributions, and explore resources here. 

TIAA participants can schedule one-on-one coaching with an adviser and access interactive retirement savings tools here.

Additional tools are available to help you learn more about retirement. 

Take home pay calculator: Determine your take-home pay by adjusting your voluntary contributions.

403(b) contribution calculator: Understand your maximum elective salary deferral contributions in 2021. 

Your contribution maximizer: Increase the value of your contributions by learning more about IRS limits. 

Get financial advice from experts.

In addition to retirement, experts from Fidelity can provide advice on a variety of topics related to financial wellness. Through the Fidelity Webcast Hub, eligible faculty and staff members enrolled in a retirement savings plan have access to webcasts, which cover everything from paying off student loan debt to better understanding your taxes. Review the available webcasts.

Tune-in to web-based workshops.

On March 10 and 24, experts from Fidelity will host “Women Talk Money,” a virtual event to celebrate Women’s History Month and provide support in securing a healthier financial future. Log in to your Fidelity account to join. On-demand workshops are also available. With topics such as “personalized planning and advice” and “turn your savings into retirement income,” employees can get assistance at any point in the retirement journey. Register here.

Need help? Contact HR Total Rewards, your pay and benefits team, by completing the online form at miami.edu/benefits/ask or call 305-284-3004.