May 30, 2023

National Retirement Week-Vendors On Campus

Did you know that you will need a minimum of 80% of your pre-retirement income to live comfortably during retirement. Your UMW retirement and Social Security benefits are only a foundation.  You will need a savings to help fund your retirement.

Spend some time looking at your finances and evaluating your retirement goals. During this week take a fresh look at your savings strategy and get prepared for retirement.  There are benefits in saving for your retirement and now is a great time to begin to take advantage of our employer sponsored plans (457 Deferred Compensation Plan and 403(b) Tax Deferred Savings Plan) and receive the Cash Match on one of your tax deferred election.

  • If you save just $20 per pay in a tax-deferred savings plan, earning an average rate of return of 7%, you could have more than $100,000 in your account in 40 years.

During the week, access tools and resources that are available to help you save for your future on the HR webpage under What’s New.

We have also scheduled our TIAA CREF Representative to be onsite for individual account counseling on Thursday, October 23, and our 457 Deferred Compensation Representative to be on site for Defined Contribution Plans Overview at 9 am in Lee Hall 412 and individual account counseling following the session on Tuesday, November 11.  Please set up your appointment because retirement is closer than you think.

October is Optional Retirement Participants Open Enrollment –

Open Enrollment information.  ORP Plan Providers will be on campus for individual counseling.  Providers currently have appointments available, contact their scheduling office to set up your appointment time:

Fidelity on Monday, October 20, 2014 in GW 106.  TIAA-CREF on Thursday, October 23, 2014 in GW 106.  You may also set up an appointment for your 403(b) Tax Deferred Savings Plan and/or 401(a) Cash Match Plan with TIAA CREF.

If you have any questions, please contact Denise Frye at dfrye2@umw.edu or 654-1210.