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Don’t let your retirement plan intimidate you – get the facts

shutterstock_151687634Does your employer offer retirement benefits? Are you participating? Are you not participating because it’s intimidating to select funds or the appropriate amounts?  Your future financial security is important and participating in a retirement plan can help, especially if your employer matches your contributions!

Questions to ask to gain a better understanding of the plan:

  • Are you setting realistic goals for key life events and retirement?
  • Can you better balance your spending priorities to help you save more for your financial goals?
  • What investment mix and strategy is best for you to increase your portfolio’s potential, including protecting against cost-of-living increases?
  • If I leave, what happens to my money?
  • As I near retirement, should my contributions be changing?

Meet with your employer’s benefits department to talk about your questions or contact your fund manager.  At NLU, we arrange for our provider, TIAA-CREF, to visit each campus regularly and encourage our employees to sit down one on one with a representative to make sure their investments are the best for them.

For more information on general retirement plans, the U.S. Department of Labor wrote an article, “What You Should Know About Your Retirement Plan,” which  offers a great deal of useful information on retirement plans.

About Stephanie Gigliotti

I am an HR Generalist at NLU focused on staff recruiting & HRIS among various other responsibilities. I maintain the @NLUjobs on Twitter and @NLUemployees on Instagram. You can also connect with me on LinkedIn http://www.linkedin.com/in/sgigliotti.

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