HR Update

Saving for retirement
What an extra 1% can do

Did you know that just 1% extra per paycheck can lead to thousands (or tens or hundreds of thousands) more dollars to help you enjoy retirement? For example, if you’re 28 years old and make $50,000 per year, adding 1% of your salary (less than $10 a week) to your retirement savings could add more than $160,000 to your nest egg when you retire.*

Use this Fidelity tool to see what a 1% increase could do for you, and sign up for a plan or modify your contributions here.

Fidelity is also offering free webinars in June to help you plan how to maximize your savings between your primary University plan (either the Faculty Retirement Plan or the MSRS pension plan) and your voluntary plan options (the Optional Retirement Plan and the 457 Deferred Compensation Plan). Each webinar earns 200 Wellbeing Points.

Register on Fidelity's "Appointment Scheduler" webpage by selecting “Virtual Event” as Event Type.

  • Make the Most of Your Retirement Savings (June 8, noon to 12:30 p.m.): How much saving is “enough” for retirement? Learn strategies that can help you save more today and tips for preserving and growing your savings in retirement.
  • Understanding Your Retirement Plan and All It Has to Offer (June 22, noon to 12:30 p.m.): Your employer’s retirement plan is an essential part of planning for your future. Learn how it works, from contributions to investment options, so that you can make the most of this important benefit.
  • Making Your Money Work as Hard as You Do (June 30, noon to 12:30 p.m.): See what options are available and what you need to know to get started with investing.

*See Fidelity tool for disclaimer.

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Learn about resources to help you navigate the end of student loan forbearance.

Due to planned system maintenance, MyU and PeopleSoft will not be available from noon Saturday, September 23, to noon Sunday, September 24. 

Back-to-school promotions are everywhere, but the Tax Management Office could have your best opportunity for savings.

A one-year free membership in Shipt is still available for faculty, staff, and students is available through January 22, 2024.

Negotiations with GLU-UE for the first contract begin September 11.