Human Resources is introducing four new retirement videos to help new and current employees save for the future. New faculty and staff can learn more about selecting a mandatory retirement plan. Current employees can better understand their retirement plan and how to manage investments as well as learn about fees and how they impact your retirement savings.
For Current Employees
How you invest your retirement savings is just as important as how much you save. The university-sponsored retirement plans offer a tiered investment lineup that helps simplify your decisions, while maintaining a range of options for more hands-on investors.
The new Investments video explores these options for your university-sponsored plans, including the Alternative Retirement Plan (ARP), executive retirement plans and supplemental 403(b) and 457(b) accounts.
As you consider your long-term goals, it’s important to understand the fees commonly associated with retirement accounts.
In the tiered investments, fees come from either the retirement plan provider or individual investment options, and they can be a flat dollar amount or a percentage.
The new Fees video shows you how lower fees can make a difference to your retirement savings.
For New Employees
Two videos are customized for new faculty and staff who need to select a mandatory retirement plan. Ohio public colleges and universities don’t participate in Social Security. Instead, faculty and staff contribute to a mandatory retirement plan. There is a deadline to enroll, so it’s important for new employees to review this information early.
The new faculty and staff videos each cover the following:
- Which retirement plans are available
- What to consider when choosing a plan
- Features of each plan
- How to enroll
If you have questions about your retirement options, contact HR Connection. Representatives are available Monday – Friday, 8 a.m. to 5 p.m.