TIAA-CREF Retirement
Wellesley College 403(b) Retirement Plan for Faculty and Staff
Prosperous You - a retirement resource. Working together for your financial wellness.
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Retirement Benefits from the College - Faculty
Retirement Benefits from the College - Administration and Union Employees
NEW! In mid June 2013, the Social Security Administration (SSA) rolled out the "my Social Security" helpdeskOnce you have created a user name and password, you will have access to your information at Social Security and can change email address and mailing address, as well as direct deposit instructions. Your password will expire on January 1, 2014, for security reasons, but it is easy to change the password at any time.The My Home section tells you what you are receiving, how much your benefit is, and when your next check will be deposited. The Help Center page has useful Frequently Asked Questions, where you can learn how to replace your Social Security Card, make name changes, or even apply for SSI. There is a “Contact Us” function, if you have questions. The section on Retirement explains such things as what happens to your Social Security if you are working while receiving benefits and discusses survivor or spousal benefits. The Disability section describes how to apply for disability payments and discusses working while disabled, if you need that information. The Security Settings link permits you to change the “security” questions and answers you may be asked for to verify that you are who you say you are. Even with no changes and no questions, you may find other information on this site useful and interesting. Go to http://www.socialsecurity.gov/ |
NEW! One-on-one independent, certified financial planners (CFP) come to campus to provide investment educationConfidence and competence are key ingredients to a prosperous future. Be coached by experts. The College is picking up the tab. Choose a Prosperity coach! You will learn when you can afford to retire. No more guess work related to retirement income and expenses.The CFPs will provide investment education, not investment advice. The College is providing this investment education resource to help equip employees with as much information as possible about their own retirement planning. Retirement planning is complicated. This resource provides general financial and investment information base on your individual retirement needs, and is intended to help you make better retirement-related decisions for you and your family. These CFPs are not tied to a fund house, their compensation is not based on the fund decision you make. They are paid an hourly rate by the College, through the 403(b) Retirement Plan. Learn more, or make an appointment by calling the benefits office at x2212 or x2215 On-campus one-on-one Financial Planning counseling with TIAA- CREF Audience: Actives employees and spouses/partners Location: Private office in HR Green Hall |
The IRS has increased the maximum you can contribute to your Voluntary Account in 2013
The IRS has increased the maximum contribution limit that plan participants are allowed to voluntarily contribute to the Tax Deferred Account for the 2013 calendar year. The general maximum has increased from $17,000 to $17,500. The maximum for participants age 50 and over in 2013 is $23,000. To take advantage of the higher maximum you must complete a new Salary Reduction Agreement form available below and return it to the HR office.
Participant Disclosure information about plan expenses mailed to homes
Wellesley College Defined Contribution Retirement Plan -
- Investment Options Comparative Chart
- Wellesley College Defined Contribution Retirement Plan - Investment Options Comparative Chart
- Safe Harbor Notice
Society of Actuaries
The Committee on Post Retirement Needs and Risks recently completed a landmark effort examining the major decisions encountered in retirement. Drawing upon the expertise of prominent retirement professionals, the result is a thought-provoking series of 11 issue briefs written in everyday language. The briefs tackle a variety of retirement decisions with practical considerations and advice.
Read about the Managing Retirement Series here.
A new website that makes participants more confident
With clear information and guidance, a brighter financial future is within reach for all of our participants. That's why this spring we will be launching My TIAA-CREF, the enhanced secure site at tiaa-cref.org that we announced late last year. It's designed to help participants play a more active role in managing, monitoring and learning about their financial plans.To reach TIAA-CREF for assistance, please call 1-800-842-2776.
New site features: http://mytiaa-cref.org
- A customizable investment picture - enhanced visual aids such as interactive charts provide participants a concise look at their TIAA-CREF portfolio in variety of convenient formats.
- Retirement Advisor - TIAA-CREF’s online advice, providing you with personalized investment advice on your retirement accounts. This analysis system will help you create a diversified portfolio based on your projected earnings potential and timeline to your retirement date and provides details on asset allocation (including fund level advice), future contributions allocations, and contribution savings rates.
- Retirement Income Planner - TIAA CREF’s income illustration tool, which helps those nearing or in retirement develop a personal plan to generate income by exploring multiple income options
- 360 Financial View - participants have the ability to link non-TIAA-CREF accounts which only they can view for a deeper understanding of their total financial picture.
- Informational Videos - quick, detailed video demos help participants get the most out of the site.
View the overview video now to see some of the new features in action. In addition to the features mentioned above, new advice tools will be added shortly after My TIAA-CREF launches. These additions and improvements should continue to help empower participants to remain informed, confident investors.
Following a comprehensive review of the College's current plan by the Retirement Plans Investment Committee, which includes members of Wellesley's Investment Office, we have streamlined and improved the quality of the plan's investment options in the fall of 2011. These changes to the Investment Menu benefit plan participants and enable Wellesley College to comply with the new 403(b) plan regulations and our fiduciary responsibilities.
What stayed the same?
The design of the Retirement Plan did not change. Contribution rates, eligibility requirements, and all other aspects of the plan's design remained the same. You were not required to take any action as a result of the new Investment Menu. However, this was an opportunity to re-evaluate your retirement strategy.
We have consolidated to one Retirement Plan Vendor, TIAA-CREF and updated the investment menu
The new Investment Menu reflects a more focused set of "best-in-class" funds with a broad range of investment choices. TIAA-CREF now offers the ability to invest with companies not available in the past such as Vanguard, Templeton, and Oakmark. The move to a single vendor is important because it saves on fees charged to the retirement accounts, and it allows for a more streamlined review of fund and vendor performance.
- Announcement Letter to Union Employees for 2011 changes
- Announcement Letter to Faculty and Administrative Employees not contributing to the TDA
- Narrated Powerpoint, The Basics of Saving and Investing for Retirement
- Interested in learning more about retirement and investing?
- Investment Options Comparative Chart
- Summary of Plan Services and Costs
- Need to update your beneficiary? Click here!
- Interested in consolidating other retirement accounts into your Wellesley plan? Click here!
- Narrated Powerpoint, New Investment Menu Financial Education Seminar
- Transition Guide: FAQ, Transtion Information, New Menu, Glossary of Terms
- Wellesley College Retirement Plan Investment Menu
Upcoming Individual Counseling Sessions:
to be announced
To schedule your individual counseling session
call (866)-904-7802
What's more important than a comfortable retirement? What can you do to get yourself there and keep your retirement income at the level you need?
Start with sound, objective financial advice from our highly trained consultants. They can help you answer these questions:
- Am I on the right track to my retirement goals?
- What asset allocation mix and investment strategy is best for me?
- Need to change your contribution rate for the supplemental retirement plan? Click here!
- Guide to the Self-Directed Brokerage Account and List of Mutual Fund Families Available Through the Brokerage Account
- Default Fund & Notice
- Default Notice Cover Letter and Event Time Line
- RA Enrollment Forms
- SRA Enrollment Forms
- TIAA-CREF microsite for Wellesley College employees
- TIAA CREF main website - login to your personal account to get updated balances, make investment changes, update beneficiaries, run income illustrations, apply for loans, and more.
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CONTACTING CALVERT INVESTMENTS By telephone: Client Customer Service: 800.368.2745 (press 0 to reach a representative) Literature Requests: 800.368.2748 Financial Advisor Customer Service: 800.368.2746 Telecommunications Device for the Deaf: (TDD) 800.541.1524 Representatives are available to assist you 9:00 a.m. to 5:30 p.m. Eastern time Monday through Thursday and until 5:00 p.m. on Fridays.
Via website: Visit us online at www.Calvert.com. To directly access your Calvert acount(s) online, log into your account(s) by selecting the "Login/Register" tab on our homepage. By e-mail: Send an e-mail to us by using the "Contact Us" link on www.Calvert.com. |
Wellesley College Pension Plan for Classified Office and Service Employees - Annual Funding
