With compound interest, contributing a little more to your retirement plan now can make a difference over time. You can automatically increase your contribution to your retirement plan every year by 1% or 2% — or whatever percent you choose. To select an “auto increase” option, go to the TIAA portal.
Remember that our TIAA plan also allows active employees who are age 50 or older to increase their annual employee plan contributions beyond standard IRS annual limits, known as “age-based catch-up contributions.” Discuss how these updates affect your retirement plan with a financial advisor from Francis, LLC. Visit My Financial Wellness to learn about the free financial planning opportunities available to employees.
The Marquette Retirement Planning Committee has added two new investment options, DFA Emerging Markets Portfolio and MFS International Equity Fund. In addition, Lazard International Strategic Equity Portfolio has been replaced with MFS International Equity Fund for future contributions and existing balances. No action is required at this time for plan participants. If you would like to discuss how these updates may affect your account, or to start contributing to the retirement plan, please see My Financial Wellness to schedule a free appointment with a financial advisor at Francis, LLC or connect with TIAA directly.
Information about our retirement plan with TIAA can be found on the retirement plan page. Updates to contribution amounts, effective with the next available payroll cycle, can be made at any time here: TIAA Portal. For additional assistance, call TIAA at 800-842-2776.
