Retirement Plan Checkup
January 22, 2019
Lewis & Clark College is proud to offer a comprehensive benefit package that includes health, retirement, paid time off, tuition, and much more. This year, the Lewis & Clark College’s retirement plan underwent updates intended to give you the investments, services, and tools you need to help you pursue your retirement savings goals. While you are not required to take any action at this time, you may consider taking the following steps to help you reach your retirement goals:
- Review your Asset Allocation. When was the last time you logged into your TIAA account? If it has been a while, go to TIAA.org/lclark to access your account. Review the available investment options in the plan, including information related to the investment options’ expenses and attributes. Review your current asset allocation and make changes as necessary.
- Update your Beneficiary. While you are in your account at TIAA.org/lclark, review your beneficiary and make updates, as necessary.
Meet with a Financial Professional. Meet with your own financial professional or tax advisor to review the options available in the plan. Alternatively, TIAA also provides resources to assist you in reaching your goals in retirement. TIAA representatives may be accessed via phone center representatives, via in-person meetings, and through on-campus meetings. However, TIAA representatives may be accessed in different capacities, and it is important that you understand how financial professionals are working with you.
- In some cases, Lewis & Clark has engaged TIAA to provide education and advice services to you as part of the retirement plan. When meeting on-campus with Rebecca Rohleder, a financial consultant, you are meeting with a professional acting within the purview of Lewis & Clark and the retirement plan. These services are not at an additional fee.
- In other cases, Lewis & Clark has not engaged TIAA to provide the services and TIAA may be offering you additional services, which may be for an additional fee – beyond the scope of the retirement plan. If you are unsure, ask the financial professional what capacity they are acting in when providing services to you.
- Review your contributions. You can update your contributions in Workday by following these quick steps. The annual IRS maximums for 2019 are $19,000 for everyone and an additional $6,000 for those who age 50 and over.
- Ask Questions! Lewis & Clark is here to help. If you have any questions, please ask Helen DeVol in the Human Resources Department. Stop by or reach out to Helen at 503-768-6234 or email@example.com.
Once again, no action is required at this time, but please consider taking the steps above to learn more and to assist you in reaching your goals in retirement. We look forward to helping you reach those goals in 2019 and beyond.
If you have continued questions about the RC/RCP contract conversion, here are some resources:
- Previous Source Article
- Understanding RC/RCP Conversion FAQs
- PowerPoint presentation about the RC/RCP Conversion
- An additional presentation has been scheduled for:
- Wednesday, February 6th starting at noon
- Law Campus, McCarty Classroom 3
- Click here to RSVP for this session