Roger Williams University and Roger Williams School of Law Retirement Plan

Agenda  Saving for Retirement  About the RWU Retirement Plan  How to get started  Meet the retirement counseling professionals

Why Save for Retirement? You’re retired longer than you think… How much will a dollar be worth… Your lifestyle in retirement... Will you work part time? Retire and travel? Buy a New Car Every Year?

What is a 403b Plan? An employer sponsored retirement plan that… …allows you to save for retirement by deferring income from your paycheck.

RWU Plan Highlights  Pre-tax contributions  Vesting of Contributions  Loans and Withdrawals  Investing Contributions  Contributions matched depending upon eligibility  Plus additional contributions without a match allowed

RWU Match Option  You Contribute 5% of base pay.  RWU matches 8% of base pay.

RWU No-Match Option  You contribute a flat dollar amount.  No match but same investment choices as matched contributions.

What is the total amount you may contribute each calendar year? $18,000 for 2016 $ 24,000 for 2016 if age 50 or older

When Am I Vested in my account? You always have ownership of your own contributions. You immediately have ownership of the RWU match.

Other Plan Provisions  Loans – request a loan of own contributions.  Withdrawals may be taken: Age 59 ½ or older When no longer employed

Investing Contributions Two Investment Manager Options: –TIAA –VALIC

How to Get Started  Set up an appointment with a TIAA and/or VALIC representative  Complete their enrollment form and a payroll deduction form  TIAA TIAA  VALIC VALIC  Start saving!  Summary Plan Description Summary Plan Description  Fee Disclosure Fee Disclosure

Your Financial Counselors  Greg Murphy, TIAA   (401)  Kevin McNair, VALIC   (401)  Human Resources  (401)