Tag Archives: retirement

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).

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

April – June 2015

  • Wednesday April 8, Davis Library 150D
  • Tuesday April 14, Davis Library 150D
  • Thursday April 30, Marble Works 201
  • Thursday May 7, Marble Works 201
  • Wednesday May 20, Davis Library 150D
  • Tuesday June 2, Davis Library 150D
  • Thursday June 11, Marble Works 201
  • Thursday June 25, Marble Works 201

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

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 (Danny) 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 (Danny) Daniel

IRS Announces 2014 Plan Contribution and Benefit Limits

On October 31, 2013, the Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2014. See the chart below for further details.




Annual Compensation Limits  For Retirement Program Purposes 255,000 260,000
Elective Deferrals 403(b) – (for under age 50) 17,500 17,500
Catch-up Contributions For 403(b) Plan Participants age 50 and over  5,500 5,500
457 (b) Elective Deferrals 17,500 17,500
457(b) Catch Up Contribution (Subject To Age And Other Restrictions) 17,500 17,500
Defined Contribution Limits On Maximum Combined Employee/Employer Contributions To Defined Contributions Plans 51,000 52,000
Social Security Taxable Wage Base 113,700 117,000
Medicare Wage Base No Limit No Limit


Important Benefits Reminders

Trouble-free employee benefit plan administration requires a strong partnership between employees and Human Resources.  The Human Resources Dept. works diligently each year-end to accurately process the thousands of required or requested benefit record changes, and then we check and double-check our work.  However, in the end, we also must rely on you, the employee, to do your part in managing your benefits by confirming that you are enrolled in the benefits you intended to elect.  Please carefully review your first paycheck and let us know if you have questions or if anything seems amiss. 

Medical/Dental Insurance

  • If you made a change to who is covered under your medical or dental plan, new ID cards were mailed to you in December.  Please confirm that you have received your new ID card(s) if you made a change to who is covered under your medical or dental plan.  If you need additional cards (for example, for a child away at college) call the toll free customer service number on your ID card (1-888-222-9206).
  •  As was announced in November, the employee portion of the medical & dental premiums did not increase for 2013.  However, any employee who made coverage (single/2 person/family) level changes should see a premium change in the first paycheck of 2013.

 Vision Insurance

Life and Accidental Death & Dismemberment (AD&D) Insurance

  • Premiums changes related to a change in coverage amount or age-band changes (5 year increments) should be reflected in the first paycheck in 2013.  If you made changes or you hit a new age band in 2012, please confirm that your premium changed.
  • Requests for new Life coverage or for increases in Life coverage over the guarantee issue amount are not effective until approved by Mutual of Omaha.  An Evidence of Insurability form must be submitted by you to Mutual of Omaha if you have requested this type of change. Mutual of Omaha will notify you directly of approval or denial.  Any premium changes will be made as of the effective date of the approved coverage.

 Flexible Spending Accounts

  • 2013 elections for the Health Care and Dependent Care Flexible Spending Accounts should be reflected in the first paycheck of 2013.  Please review your pay stub and confirm that your contribution is correct (divide your total annual election by 26 to calculate your per pay-period election.) 
  • If you are a new Flexible Spending Account plan participant (you were not enrolled in a FSA last year) then FSA Benefits Cards were mailed to your home address in mid-December.  If you had a FSA last year you will not be issued a new card as they are valid for 3 years.   The Benefits Card can be used to access funds in your Health Care and Dependent Care Flexible Spending Account.  Important information about the FSA Benefits Card is available at http://www.middlebury.edu/offices/business/hr/staffandfaculty/benefits/flex
  • You have until March 15, 2013 to file claims against your 2012 flexible spending accounts for expenses incurred in 2012.  The FSA Claim form and other helpful information on Flexible Spending Accounts can be found at http://www.middlebury.edu/offices/business/hr/staffandfaculty/benefits/flex.Please visit CBA Blue’s website at http://select.cbabluevt.com/middlebury/ to review your account information.


  • If you submitted forms prior to the holiday break requesting changes to your Voluntary Retirement Plan or to enroll in the 457b Salary Deferral Supplemental Retirement Plan, your new elections should have been reflected in your first paycheck of 2013.  If you requested changes please confirm that your elections are as expected.

 If you have made a change to who is covered on your medical or dental plan and you have not received your new ID card(s), or if a benefit deduction doesn’t look right to you, or if you have any other questions or concerns about your benefits, please contact Human Resources as soon as possible.  Thanks for doing your part to keep our benefit plans running smoothly!

 Your Benefits Team,
~Lisa Hoff, Benefits Specialist (Health/Dental/Vision/Flex Spending) x3372
~Loretta Lee, Benefits Specialist (Retirement Plans & Retiree Medical/Dental) x5468
~Cheryl Mullins, Benefits & Compensation Manager x5542

Seeing the Unseen

Seeing the Unseen
In honor of Professor Frank Winkler
on his retirement

Professor, friend, our class’s true
astronomer, whom a blackboard can’t
erase. Who’s taken us beyond the seen,

and unseen stars. Where space is
anybody’s second guess. Where,
it seems, we’re more and less

and everything that matters.
Who uses up three boards to write
love’s infinite sign, the feeling

today in your, in our last class,
that can’t be canceled out, that
remains a constant one.

Not by chance, your name, Frank
Winkler, has us winking at
the stars, those burning gases

it takes more than this semester
to reach us. Years from now,
maybe from another galaxy,

one of us will look back to earth—
you taught us we’re made up
of everything there is

(Did I get that right on the test?)
To look back and see the comet’s
trace of you jetting across

Bi-Centennial Hall’s grand
space. See you dropping
that bowling ball, near my

roommate’s, First Year foot,
to show us the principle by which
we’ve come to be love’s

first gravity. So, Professor,
at the end of this hour, we can
stand, we can fall back to Earth.

Gary Margolis ‘67
Executive Director, Emeritus,
College Mental Health Services
Associate Professor (part-time)
English and American Literatures