Five Ways to Prepare for Retirement Choice (Support Staff Only)
To prepare for the Retirement Choice period, which runs from March 18-April 15, there are five things you can do.
- Review your materials. A Retirement Choice decision toolkit will be mailed to your home; it will explain your options and help you make your decision. You can always access up-to-date information online on the Benefits website.
- Attend a meeting. Town Hall meetings will be offered to provide you with important information and get your questions answered about the retirement plans and Retirement Choice. Be sure to attend one of these meetings (you may bring your spouse). You may also want to schedule a one-on-one consultation with a representative from one of our investment companies. See the myChoices website for schedule information.
- Check your personal information. When the Retirement Choice period begins on March 18th, you will have access to an online Choice tool that will allow you to compare your retirement benefits under each of the two options: (1) Support Staff Pension Plan and Staff Voluntary 403(b) Plan or (2) the new 403(b) Plan. Please be sure to confirm your personal information and notify the Benefits Team if you happen to find information that does not agree with your records.
- Choose a retirement plan. During the Retirement Choice period, you will need to select a retirement plan option that will determine how you accrue future benefits. You will do this using the online Choice tool.
- Make your investment choices. If you choose to move to the new 403(b) Plan, you will need to choose your investments. More information on choosing your investment options will be provided as we near the Retirement Choice period.