Be Well Prepared: The New Lehigh University Retirement Plan

We’ve been sharing information with you for nearly a year, and now the launch of the new retirement plan is almost here. By now, you should have received your official announcement letter regarding the new Lehigh University Retirement Plan.  

Now, it’s time to think about the steps you’ll need to take to ensure that you are taking full advantage of your retirement savings benefits.

Your Three-Part To Do List

There are three key components to the transition which require you to take some action this fall and winter:

1. You need to decide where you want to move your current retirement funds within the new investment menu
2. You need to decide where you want to direct your new retirement plan contributions that start January 1, 2014
3. You need to decide how much of your own salary you wish to contribute to your retirement savings plan.

The Timeline

• You’ll be receiving a transition guide by mail in mid-October. The guide will have a detailed description of the new plan’s features, the new investment menu, and a lot of information about what you can do with your assets in the current Lehigh Retirement Plan as well as the Voluntary Retirement Savings Plan (VRSP)
• After that, you’ll receive a Welcome Kit from TIAA-CREF with specific information about the online enrollment process. You can begin taking action on your decisions on November 1, 2013
• You are highly encouraged to finalize your actions before December 31, 2013 so that it won’t slip your mind before the first of the year.

Get Informed, Be Prepared

This fall, we’re offering a number of different ways for you to get the information and advice you need to prepare for the new plan.  Your department or stem might host an information session during a regularly scheduled team meeting. Be sure to watch for news of such a meeting within your office.

Open Transition Seminars

These one-hour presentations from TIAA-CREF will review the features of the new plan and offer general retirement planning advice.

Drop-In Information Desk

If you have just a couple of questions to ask, consider visiting the Drop-In Desk from mid-October to mid-November. 

One-On-One Counseling Sessions

Get personalized, confidential retirement plan advice from a TIAA-CREF financial consultant on campus. This service is available twice monthly throughout the year, but we’re adding extra dates during the October-November period.  

Call TIAA-CREF at 800-732-8353, Monday through Friday, 8:00 a.m. to 8:00 p.m. (ET) to make an appointment. The operator will be able to tell you which dates and times are available.