Make Time for a Retirement Check-Up This Fall
Are you worried about the current volatility in the financial markets and wondering if you’ll ever save enough money to retire? Here are five things you can do now to maximize your retirement savings:
- Save regularly. Years of steady saving can help you reach long-term financial goals.
- If you are eligible for the university’s matching contribution, take advantage of it. Contribute as much money as you think is appropriate (up to the IRS limit) but, if possible, at least 3% of pay, so you can maximize the university’s matching contribution of 20% on your first 3% once you have completed at least two years of service. Remember, only some are eligible for this matching contribution.
- Take it to the limit. The 403(b) Retirement Plan allows you to make pre-tax plan contributions up to the IRS limit, which is $16,500 in 2011. (2012 contribution limits will be announced soon.)
- Allocate and diversify. Balance risk and reward by building a diversified portfolio. Review and update your selections at least once per year.
- Learn more about retirement planning. Sign up for the Financial Education Seminar series with our partner, TIAA-CREF. To sign up or learn more about specific seminar times, locations, and dates visit http://events.signup4.com/JHU.
Use the chart below to find your vendor’s contact information for more information about your investment options.
|American Century||Visit www.americancentury.com or call 800-345-3533 weekdays from 8 a.m. to 6:30 p.m., Eastern time.|
|Fidelity||Visit NetBenefits at www.fidelity.com or call 800-343-0860 weekdays from 8 a.m. to midnight, Eastern time, to speak with a Retirement Services Specialist.|
|TIAA-CREF||Visit www.tiaa-cref.org, or call 888-200-4074 weekdays from 8 a.m. to 10 p.m., and Saturday from 9 a.m. to 6 p.m., Eastern time.|
|Vanguard||Visit www.vanguard.com or call 800-523-1188 for fund and account information.|
|VALIC||Visit www.VALIC.com, or call 800-448-2542 weekdays from 8 a.m. to 9 p.m., Eastern time.|