Tag Archives: retirement

TIAA ONE-ON-ONE COUNSELING SESSIONS WITH ERIK MOREAU

April– June 2016

  • Thursday April 7, Davis Library 150D
  • Wednesday April 13, Davis Library 150D
  • Wednesday April 27, Davis Library 150D
  • Wednesday May 11, Davis Library 150D
  • Thursday May 19, Davis Library 150D
  • Wednesday June 1, Davis Library 150D
  • Tuesday June 14, Davis Library 150D
  • Thursday June 30, Davis Library 150D

To schedule an appointment with Erik Moreau, please call the Field Support Team at (800) 732-8353, M-F 8am – 8pm (EST).

TIAA-CREF One-on-One Counseling Sessions with Erik Moreau

January – March 2016

  • Wednesday January 13, Davis Library 150D
  • Tuesday January 26, Davis Library 150D
  • Thursday February 11, Marble Works Suite 203
  • Tuesday February 23, Davis Library 150D
  • Tuesday March 8, Davis Library 150D
  • Wednesday March 16, Davis Library 150D
  • Wednesday March 30, Davis Library 150D

To schedule an appointment with Erik Moreau, please call the Field Support Team at (800) 732-8353, M-F 8am – 8pm (EST).

 

IRS Announces 2016 Plan Contribution and Benefit Limits

On October 21, 2015, the Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items beginning January 1, 2016. See the chart below for further details.

2015 2016
RETIREMENT PLANS
Annual Compensation Limits For Retirement Program Purposes 265,000 265,000
Elective Deferrals 403(b) – (for under age 50) 18,000 18,000
Catch-up Contributions For 403(b) Plan Participants age 50 and over 6,000 6,000
457 (b) Elective Deferrals 18,000 18,000
457(b) Catch Up Contribution (Subject To Age And Other Restrictions) 18,000 18,000
Defined Contribution Limits On Maximum Combined Employee/Employer Contributions To Defined Contributions Plans 53,000 53,000
OTHER
Social Security Taxable Wage Base 118,500 118,500
Medicare Wage Base No Limit No Limit

All figures in US dollars.

Sources: www.tiaa-cref.orgwww.irs.gov

Follow @franklindaniel_ on Twitter for up to date information on retirement benefits.

Are You Exploring the Idea of Retiring Within the Next Couple of Years?

If you are considering whether (or when) to move on to the post-work phase of your life it is very likely that you have many questions. For example, you may be wondering:

  • What will happen with my retirement account when I retire? Can someone explain the options I will have for retirement plan distributions? Could I get an estimate of how much income I might expect to receive from my retirement account, post-retirement? How long after retirement will I have to wait before I begin receiving my retirement benefits?
  • Will I be able to remain on Middlebury’s medical/dental/vision plans post-retirement? Will I be able to cover my dependents? How much will it cost? Are there other health coverage options I should consider?
  • Do I have to apply for Medicare A? Medicare B? Medicare D? If so, when?
  • How far in advance of retirement should I contact the Social Security Administration?
  • What will happen with my CTO and SLR balances when I retire? Can I use my accumulated CTO balance to extend my retirement date past the date I will actually stop working?
  • I still have a child in college; if I retire will he still be eligible for the dependent tuition benefit?
  • How much notice should I give my manager? What is the process to formally initiate a retirement?
  • Could phased retirement or a transitional retirement plan be right for me? What is involved in pursuing such an option?
  • Would I be eligible to work at Middlebury part-time after I retire? Would doing so have any implications for my ability to draw funds from my retirement plan?
  • Will I still be eligible for Middlebury’s recreational discounts such as Snowbowl, Rikert and the golf course? Are there other perks that come with retirement?
  • Work has been a huge part of my life for decades and I’m concerned about the social and emotional aspects of retiring. Are resources available to help me?

My name is Franklin Daniel and I am Middlebury’s Retirement Plan Specialist. Whether you have definite plans to retire in the near future or are just starting to consider the possibility of retiring down-the-road I would welcome the opportunity to meet with you (and your spouse/partner, if you so choose). We can discuss the topics above as well as any other retirement questions/concerns you may have, and I can help connect you with other resources who will be able to assist you with your pre-retirement planning. If the time is right for you to begin gathering information about retiring from Middlebury please make an appointment by calling me at extension 5755 or emailing me at fdaniel@middlebury.edu. I look forward to meeting you!

 

– Franklin Daniel

TIAA-CREF One-on-One Counseling Sessions with Erik Moreau

October– December, 2015

  • Thursday October 8, Marble Works, Suite 203
  • Tuesday October 20, Davis Library 150D
  • Wednesday October 28, Davis Library 150D
  • Thursday November 12, Marble Works, Suite 203
  • Wednesday November 18, Davis Library 150D
  • Wednesday December 2, Davis Library 150D
  • Tuesday December 15, Davis Library 150D

To schedule an appointment with Erik Moreau, please call the Field Support Team at (800) 732-8353, M-F 8am – 8pm (EST).

TIAA-CREF One-on-One Counseling Sessions with Erik Moreau

July– September 2015

  • Thursday July 2, Marble Works, Suite 203
  • Wednesday July 15, Davis Library 150D
  • Tuesday July 28, Davis Library 150D
  • Wednesday August 12, Davis Library 150D
  • Thursday August 27, Marble Works Suite 203
  • Wednesday September 9, Davis Library 150D
  • Wednesday September 16, Davis Library 150D
  • Wednesday September 30, Davis Library 150D

To schedule an appointment with Erik Moreau, please call the Field Support Team at (800) 732-8353, M-F 8am – 8pm (EST).