Transcript United Way PowerPoint Presentation Template

United Way Retirees Association
Helping United Way Staff
Plan for Retirement
United Way Retirees Association
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Agenda*
1. The Whys Behind This Webinar
2. Goals Of This Webinar
3. A Few Possible Ways That United Ways Might Help Its
Employees

Offering a Defined Contribution Plan -- Options

Offering a Retirement Planning Education Program –
Local Example

Offering Early Retirees Continued Group Health
Insurance Coverage – Local Examples
4. Retirement Planning Resources
*Disclaimer: The content of this Webinar offers descriptions of
programs/practices for consideration only and is not a substitute
for professional advice.
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Today’s Presenters/Contributors
1. Host/Webinar Development - Ralph Gregory,
UWRA Board Member, Retired President/ CEO,
United Way of Westchester and Putnam; Tricia
Smith, UWRA President and CEO
2. Defined Contribution Plans: Bob Berdelle,
Senior Vice-President and Chief Financial Officer,
United Way Worldwide, Alexandria VA
3. Retirement Planning Education Program: Jane
Grady, Vice President Human Resources, United
Way of Massachusetts Bay and Merrimack Valley,
Boston MA (Metro 1)
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Today’s Presenters/Contributors
4. Benefit - Offering Retirees the Option of Continuing
on the Group Health Plan
• John Roche, Director of Human Resources and
Administration, United Way of the Greater Capital Region,
Albany, NY (Metro 2)
• Tamara Calvert, Human Resources Director, United Way
of Central Alabama, Birmingham, AL (Metro 1)
• Suzanne Bloomfield, Director Human Resources/EO,
United Way of Greater Cleveland, Cleveland, OH (Metro 1)
• Kennethe Vaughn, Vice President, Talent Management
and Diversity, United Way of Central Indiana, Indianapolis,
IN (Metro 1)
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Poll Question - Audience
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The Whys Behind This Webinar
• First Webinar - Planning for Retirement in an Era
of Uncertainty – Provided a beginning framework
for individual retirement planning
• This Second Webinar focuses on the importance
of helping United Way employees to plan for
retirement
Encourage and empower your staff to:
 take responsibility for planning for their
retirement, and
 view retirement planning as a lifelong effort
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The Whys Behind This Webinar
Brief Recap – Framing the Problem
•
Frozen/disappearing pension plans and the subsequent necessity for
individuals to take increased responsibility for their retirement planning
•
401ks and 403bs are losing value
•
Rising healthcare costs
•
Longer life spans
•
Uncertainly over Social Security, Medicare and the Affordable Care
Act
•
No system-wide retirement plan is available for United Way employees
•
Local United Ways vary considerably in relation to retirement benefits
offered – with smaller United Ways often providing no benefits at all
•
Little best practice information is readily available from local United
Ways in the area of retirement planning
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The Whys Behind This Webinar
Brief Recap – Research Shows…
•
Knowledge of retirement issues is positively related to one’s
attitude toward retirement
•
Training and intervention programs designed to boost
financial knowledge improve financial preparedness by
triggering advance retirement planning activities
•
Only about 1/3 of workers receive educational materials or
attend retirement seminars offered by their employers
•
Only 52% of 403b plan sponsors (nonprofits) contribute to
employees’ accounts compared to 88% of 401k sponsors
(for-profits) – 38% of United Ways do so (Human Capital
Survey)
•
Many nonprofit organizations offer no retirement
programs for their employees
•
Most retirement planning programs/practices are geared to
those aged 50 plus (There is a need to start sooner!)
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Poll Question – Age Group
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The Whys Behind This Webinar
Age Composition of United Way Workforce
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The Whys Behind This Webinar
Pending Retirements Within UW Workforce
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The Whys Behind This Webinar
Comments from Surveys of United Ways….
•
Young staff are not concerned about long term employment with United
Way nor retirement planning beyond a 403(b) plan. Let’s encourage them
to act now
•
United Ways give a low priority to retirement planning assistance but
have some interest in encouraging retirement planning , with emphasis on
financial, health and quality of life matters. Let’s revise our priorities
•
Would welcome ideas for education programs segmented by age finding younger employees are engaged more in retirement planning than
previously. Let’s start sharing more information
•
Retirement counseling has not been offered for quite a few years - think
such a program would enhance services to employees. Let’s invest in
keeping staff
•
Information on a website alone does not cause employees to plan for
retirement, interested in knowing what other United Ways are doing to
encourage and assist in retirement planning Let’s have a dialogue
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Goals of this Webinar
2nd in the Series
1. Help start the conversation and sharing
of “practices” related to the retirement
planning arena
2. Provide examples of “benchmark”
programs – including elements of some
programs that are working and can be
tailored to address local realities
3. Provide some additional tips
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Retirement Benefits
Defined Contribution Plans
“the biggest factor in saving for your
retirement is to start today!”
Bob Berdelle, Senior Vice-President and Chief
Financial Officer, United Way Worldwide
Let’s look at some basic definitions,
United Way statistics and issues around
Defined Contribution Plans
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401k and 403b Plans
General Definitions
•
401k and 403b plans are tax-deferred savings plans. Contributions to
standard 401k and 403 b plans are made on a pre-tax basis and are
taxable at the time of withdrawal. The plan is administered by a financial
management firm chosen by the employer (or one of several).
Employees select mutual funds and annuities in which to invest their
contributions, and the employer may provide a match.
•
403b plans are used by nonprofit organizations, religious groups,
school districts, and governmental organizations – as determined by
section 501(c) 3 section of the IRS code. The law exempts these
organizations from certain administrative processes (hence lower
administrative costs) that apply to 401k plans.
•
It is generally beneficial to go with a 403b plan. However, a vendor may
offer a great deal on a 401k plan – so the plan instituted is an
individual organizational decision
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United Way Statistics
Human Capital Survey (charts on next slides)
• 65% of the United Ways that responded to the 2010
Human Capital Survey* offer a defined contribution
plan
 38% offer a match (47% of the Metro I-IV
respondents; and 25% of the Metro V+ respondents)
 27% do not offer a match (35% of the Metro I-IV
respondents and 13% of the Metro V+ respondents)
• The United Way Employer match levels vary
considerably, with the majority being in the 3 to 6%
range
* 2012 Human Capital Survey in Progress
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Financial Benefits Offered to Employees
(All UWs)
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
ee
Fr
/s
ng
i
rk
pa
D
55%
38%
28%
20%
8%
d
ze
i
d
si
b
u
ed
in
f
e
27%
r
pa
ng
ki
nt
co
tio
u
rib
n
an
pl
D
b
03
4
(
ed
in
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e
w
/m
be
)
ch
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an
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an
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w
/o
)
ch
t
a
m
n
tio
i
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t
en
m
se
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bu
m
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12%
4%
3%
g
s
in
ce
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la
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s
l
l
ia
ga
c
e
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id
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d
eai
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th
nt
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Source: 2010 United Way Human Capital Study, Part II Organizational Questionnaire, Benefits Section
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Financial Benefits for All Staff
Defined Contribution Plan (403b with Match)
UWs Offering This Benefit
All UWs
38%
Employer Match
Metro I-IV
47%
30
Metro V-X
25%
63%
II
20
# UWs
I
35%
III
54%
IV
10
32%
V
58%
VI
0
1
26%
2
3
5
3.
4
5
6
8
6.
7
5
7.
8
10
14
15
% Contribution
VII
18%
VIII
14%
0%
25%
50%
75%
100%
Source: 2010 United Way Human Capital Study, Part II Organizational Questionnaire, Benefits Section
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Financial Benefits for All Staff
Defined Benefit and Defined Contribution Plans
without Match
UWs Offering Defined Benefit Plans
(Pension Plans)
All UWs
28%
Metro I-IV
Metro I-IV
16%
41%
15%
VIII
25%
50%
75%
100%
25%
VI
13%
VII
13%
VIII
5%
0%
38%
V
24%
VII
31%
IV
21%
VI
52%
III
40%
V
23%
II
25%
IV
13%
I
35%
III
35%
Metro V-X
I
II
27%
All UWs
35%
Metro V-X
UWs Offering Defined Contribution Plans
(403b without match)
0%
0%
25%
50%
Source: 2010 United Way Human Capital Study, Part II Organizational Questionnaire, Benefits Section
75%
100%
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United Way Statistics
Human Capital Survey
•
28% of the United Ways responding to the 2010 Human Capital
Survey offer a defined benefit (pension) plan . However, in many
cases today, organizations are freezing defined benefit plans -- new
employees cannot enroll and current enrollees’ pension levels are
“frozen”. Most organizations have converted to defined contribution –
401k or 403b plans.
IMPLICATION: There is an increased necessity for individuals to
take responsibility for planning for their retirement
FACT: The 401k generation is beginning to retire, and it isn't a
pretty sight... The median household headed by a person aged 60
to 62 with a 401k account has less than one-quarter of what is
needed in that account to maintain its standard of living in
retirement. (February 2011) Federal Reserve data analyzed by the
Center for Retirement Research, Boston College for The Wall Street
Journal
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United Way Statistics
Some Takeaways – Defined Contribution Plans
1. Good news - The survey shows that some small city United Ways are
offering defined contribution plans – so it is feasible to do so regardless of
size
2. Not So Good news
• More than 1/3 of the United Ways that responded do not offer a defined
contribution plan
• Only 38% of the respondents are offering a match
3. Why offer a defined contribution plan?
• To encourage staff to save for retirement
• To attract and retain talent
4. Why offer a match? It is an additional incentive to save and a key to
encouraging early career staff to participate - increasing the probability of
a quality retirement
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Key Considerations for United Ways
Defined Contribution Plans
• One of the first decisions is whether to contract with one or more
service providers and, if so, what type(s) of service provider(s) to
use.
• Know the key questions you should be asking your defined
contribution plan vendor that will help you understand the actual
services and associated fees and costs.
• Lot of good resources on the internet. In selecting providers to
administer a plan, several key areas to assess include:
Administrative, record keeping and trust service capabilities
Access to high quality funds
Ability to insulate United Way from fiduciary responsibility
Employee communications and investment education opportunities
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Key Considerations for United Ways
Defined Contribution Plans
• When evaluating fund options to offer – 12 to 14
options is typically an optimal number
• Ways to encourages participation and savings
Allow employees to opt in or opt out
Use auto escalating factors
Convey compound net worth and tax advantages
Provide a match
For smaller United Ways with very limited budgets - the
administrative fees can be passed on to the employees
and yet can still be very advantageous
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Key Considerations for Employees
Defined Contribution Plans
• Understand the fees
• Catch up contributions - refer to the plan rules and
highlights to find out if the plan allows such
contributions - and what the guidelines are
concerning them.
• Understand the tax implications and penalties for
early withdrawal
• It is a good idea to seek professional advice.
Check with an investment professional to help
choose investments that best meet one’s retirement
objectives.
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Key Considerations for Employees
Defined Contribution Plans
• If offered, one should make sure a sufficient
amount is contributed to one’s defined
contribution plan to draw down the full
organization match, allowing one to take greater
advantage of tax benefits
• If one’s United Way does not have a plan, one
should ask an investment professional about
other ways to start investing for retirement – such
as establishing an IRA.
• One should avoid cashing out or borrowing
against the plan – let it grow.
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Retirement Planning Education
Jane Grady, Vice President Human Resources
United Way of Massachusetts Bay and Merrimack Valley
“Non-profits should expect more from
the retirement plan providers”
“Our employees deserve better”
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Retirement Planning Education
UW of Massachusetts Bay and Merrimack Valley
ELEMENTS OF THE PROGRAM
A plan sponsor of a 401k plan (the employer) has a
fiduciary duty to provide adequate education so that
employees can make informed decisions about
investing for retirement. We take this very seriously.
The main elements of the program include:
1. Quarterly enrollment meetings. New employees are
required to attend.
2. Individual, one-to-one meetings with a certified
financial advisor to discuss retirement goals,
investments, portfolio models, concerns, etc.
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Retirement Planning Education
UW of Massachusetts Bay and Merrimack Valley
ELEMENTS OF THE PROGRAM (Cont.)
3. Periodic Retirement Education programs such as:
Importance of Diversification, Retirement Readiness –
Ages 50+, Investing in Model Portfolios, Investing 101,
Understanding Annuities, Market Volatility and others
4. All Staff Meetings:
Timely topics of importance to all, presented by our
plan/financial advisor or vendor representative - market
conditions, changes in fund menu, tools available
through the vendors website, investing in model
portfolios
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Retirement Planning Education
UW of Massachusetts Bay and Merrimack Valley
HOW IT’S WORKING:
• Key to attracting early career employees into the 401k or
403b plan is to provide a matching contribution.
PARTICIPATION:
• 95% of eligible staff: Over 4% deferral rate
ISSUES TO CONSIDER:
• United Ways are not in the business of designing/offering
retirement education programs. Find a vendor who is.
• We in HR can not and do not offer investment/planning
advice. That’s the job of the retirement plan provider – let
the provider educate employees
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Retirement Planning Education
UW of Massachusetts Bay and Merrimack Valley
KEY TO SUCCESS:
• Find a retirement plan vendor that will provide high
quality, onsite education programs for your employees.
LESSONS LEARNED / RECOMMENDATIONS:
• Be willing to change providers if you don’t get the services
you need
• It’s a competitive market out there now. Take advantage
of it.
• No employees deserve better retirement programs than
our employees -- yet we sometimes settle for second best.
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Health Insurance for Early Retirees
The #1 Fear – US News Money February 2012
“One of my biggest worries about early retirement is
health care. The cost of health care keeps increasing
every year, and it is outpacing inflation by a wide margin.
This is a big problem for early retirees because we won’t
qualify for Medicare until age 65. If you retire before then,
medical insurance can be very expensive and difficult to
find.” Joe Udo, Health Insurance Options for Early Retirees, US
News Money, February 2012
This fear has been reinforced by similar
comments made by UWRA members in
surveys.
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Health Insurance for Early Retirees
Some Options – US News Money February 2012
• COBRA. If you leave a job with a group health insurance plan, the
Consolidated Omnibus Budget Reconciliation Act allows you to
continue using the same health care plan for a limited amount of time
if you are willing to pay the whole cost. COBRA coverage generally
lasts for up to 18 months, so if you are 63 and a half, this might be
the way to go until you qualify for Medicare.
• Retiree health insurance. Some companies offer retiree health
insurance to long-tenured employees. To qualify, your age plus your
years of service might need to pass a certain threshold. Some
programs may subsidize a portion of your health insurance premium
until Medicare kicks in.
• Part-time job. A part-time job might provide the health insurance
you need until you are old enough to qualify for Medicare.
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Health Insurance for Early Retirees
Some Options – US News Money February 2012
• Spouse’s insurance. If you have a working spouse whose
employer offers a family health care plan, this is another way to fill in
the health insurance gap. The premium is generally much less than
buying insurance privately.
• Private insurance. This is a very costly option because you do
not receive any group discounts.
• On demand health care. This might be a good option if you
are young and relatively healthy. On demand health care clinics offer
an affordable option for everyday health problems….But this may not
be a good option for older people because long-term illnesses may
crop up.
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Health Insurance for Early Retirees
Some Considerations – Need to Monitor Public Policy
• The Affordable Care Act provides $5 billion in financial assistance to
employers to help them maintain coverage for early retirees age 55 and
older who are not yet eligible for Medicare. 5% of the companies approved
to date have been non-profits.
• This temporary program is projected to end on January 1, 2014 when
early retirees will be able to choose from the additional coverage options
that will be available in the health insurance exchanges
• Uncertainty currently exists around the status of the Affordable Care
Act and the implementation of the exchanges
Finding affordable health care is a huge problem for early retirees,
and there is no easy way to avoid the high price. Perhaps we will
have more options when the health insurance exchanges become
operational. Joe Udo, Health Insurance Options for Early
Retirees, US News Money, February 2012
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Health Insurance for Early Retirees
Consider Including Retirees in Your Group Health Plan
• Benefit - Giving early retirees (i.e., retiring
before Medicare eligibility) the option to
continue to get their health insurance through
the organization’s group plan.
• Reasons to offer this benefit:
A thank you for years of service
A way to retain competent staff
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United Ways That Provide Health
Benefits to Retirees
Examples
• Four UWs indicated that their retiree benefits
will be ending or phasing out soon.
• Four reported that their retiree benefits include
supplemental health insurance.
• Three said that the retiree pays full premium
but gets employee rates.
• Two UWs said that their retiree benefits cover
50% of the premiums.
100%
90%
80%
70%
60%
50%
40%
30%
22%
20%
10%
6%
10%
9%
1%
1%
2%
4%
III
IV
V
0%
0%
0%
VI
VII
VIII
0%
All UWs Metro I- Metro VIV
X
I
II
Source: 2010 United Way Human Capital Study, Part II Organizational Questionnaire, Benefits Section
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Health Insurance for Early Retirees
But There is Interest in Sharing Information
UW Listserv POST:
• Our current personnel policy offers United Way retirees the
option to continue their health insurance through our group. We
are considering an added bonus of possibly paying a small
percentage of their individual coverage. We appreciate input.
• Other comments on the post:
 We do not do this but have looked at the possibility...I would be interested in
seeing the details
 I wish ours did but we do not. This has been discussed among LUWs before on
the ListServ and generally, the consensus was that most did not.
The four United Ways that indicated on the Listserv that they
offer this benefit have agreed to describe their programs.
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Health Insurance for Early Retirees
Four United Ways Offering This Benefit
1. United Way of the Greater Capital Region, Albany
NY (Metro 2) - Offers early retirees the option to continue to get
health insurance through the group plan, with the organization
paying a percentage of the individual premium.
2. United Way of Central Alabama, Birmingham, AL
(Metro 1) --Offers retiree coverage thru age 65, with a
percentage of the premium paid by the organization based on
tenure.
3. United Way of Greater Cleveland, Cleveland OH
(Metro 1) - Offers retiree coverage, with the retirees paying 100
percent of the premium.
4. United Way of Central Indiana, Indianapolis, IN
(Metro 1) - Offers early retiree coverage, with the retirees paying
the full cost of their coverage.
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United Way of the Greater Capital Region
Albany, New York (John Roche)
WHAT IS OFFERED: Early retirees have the opportunity
to participate in the organization’s group health and
dental plans – UW pays 50 % of the cost (fixed at the
time of retirement) of the retiree’s medical insurance –
the retiree pays the full share of the dental cost. This
plan was established in May 2011.
ELIGIBILITY FOR BENEFIT:
• An employee who retires early with 20 years or more
of service and is at least age 62.
• The retiree may participate in the plan for up to 3
years or until he/she qualifies for Medicare.
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United Way of the Greater Capital Region
Albany, New York
CURRENT NUMBER OF PARTICIPANTS: 3 (2 after
May 2011 and 1 prior retiree).
EVALUATION OF BENEFIT: Relatively new – seems to
be working well.
ISSUES TO CONSIDER: Portability - one retiree in the
plan spends part of the year in another state – UW uses
an outside consultant to work out this coverage issue
with the retiree and provider.
POTENTIAL OBSTACLES: Any added cost is a
financial burden but the number receiving this benefit is
low – only 3 people currently; 2 people in next 2 years
and 1 in next 5 years.
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United Way of Central Alabama
Birmingham, Alabama (Tamara Calvert)
WHAT IS OFFERED: Group health insurance coverage for early retirees. 43
agencies participate in the United Way’s self insured health plan (not all cover
retirees). For these agencies, UW administers the employee health
insurance plan only, not any post-retirement programs.
ELIGIBILITY FOR BENEFITS:
• One must be fifty-five (55) years of age or older.
• One must have at least five (5) years of continuous service with United
Way of Central Alabama, Inc. and/or a member agency.
•
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Payment arrangements:
• Eligible participants with five (5) but less than fifteen (15) years of
service will be responsible for the full premium payment.
• For employees who meet the age requirements and have at least fifteen
years of service, United Way will pay a percentage of the premium
equal to the current amount being paid for full-time, active employees .
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United Way of Central Alabama
Birmingham, Alabama
ELIGILITY FOR BENEFITS (CONT.)
• Benefits for spouses:
• A spouse who is under the age of 65 while the retiree is over
age 65, may be covered until the spouse becomes Medicare
eligible or for seven (7) years, whichever comes first.
• If the retiree dies before the age of 65 , the spouse will be
eligible for COBRA for three (3) years.
• If the employee dies before the age of 55, the spouse will be
eligible for COBRA for three (3) years.
• If the retiree is under 65 and the spouse is over 65, the spouse
will be entitled to receive group benefits as primary coverage
and Medicare as secondary coverage, as long as the retiree is
receiving group health insurance coverage.
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United Way of Central Alabama
Birmingham, Alabama
CURRENT NUMBER IN PLAN: 1 (have had up to 6)
EVALUATION OF BENEFIT: Great – no problems
encountered
ISSUES TO CONSIDER: An actuary reviews funding for
post-retirement plan each year
POTENTIAL OBSTACLES: It is important to make sure
the plan is funded for future early retirees. Funds need
to be set aside in order to fund the benefit for those that
may take early retirement as well as their spouses if
written into the plan.
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United Way of the Greater Cleveland
Cleveland Ohio (Suzanne Bloomfield)
WHAT IS OFFERED:
• Retirees have the ability to purchase a group medical insurance plan or a
supplemental health insurance plan, depending upon their age.
• Retirees are also offered two life insurance policies (a $1,000 policy and a
policy equal to 50% of their ending salary at time of retirement)
• The UW administers these plans for their funded agencies and other
health and human service agencies. A total of 95 organizations are
involved in the medical, dental, and vision plans.
ELIGIBILITY FOR BENEFITS:
• If over 65, retiree can purchase supplemental health insurance plan
• If under 65, retirees can purchase the group medical insurance plan if they
are enrolled in that plan at the time of retirement
CURRENT RETIREES IN PLAN:
• Retiree health insurance - 6
• Retiree life insurance - 48
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United Way of the Greater Cleveland
Cleveland, Ohio
EVALUATION OF BENEFIT:
• The group health insurance plan for retirees is working very
well. The retirees pay 100% of the premium.
• Retiree life insurance policies – there is concern about
maintaining these policies in the future due to the higher costs
ISSUES TO CONSIDER:
• The 6 retirees in the group medical insurance plan are not
driving premium levels since UW has a large agency group
alliance with several thousand participants.
• Retiree group life insurance benefits will need to be reviewed -the ratio of active staff to retirees is becoming less balanced
and driving up costs.
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United Way of Central Indiana
Indianapolis, Indiana (Kennethe Vaughn)
WHAT IS OFFERED: Early retirees have the opportunity to
purchase the organization’s group health insurance coverage.
ELIGIBILITY FOR BENEFIT:
• This early retiree health plan is available to United Way staff
only (not agencies)
• Medical coverage only is available for retirees under age 65
but at least age 55 and have a minimum of 10 years of service
with the United Way of Central Indiana. Coverage is
terminated upon attainment of Medicare eligibility.
• Retirees pay full cost of coverage
• This retiree plan is added to the eligibility section of the
United Way contract with the insurer.
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United Way of Central Indiana
Indianapolis, Indiana
CURRENT RETIREES IN PLAN: 2 (others aged out)
EVALUATION OF BENEFIT: Works great – not a burden – part
of the group health plan. Do direct billing of retirees and have
had no problems
ISSUES TO CONSIDER: Limiting exposure: The UW has very
few retirees but those that do not have other options take the
benefit. Maximum exposure is for 10 years.
POTENTIAL OBSTACLES: We are fully insured so the risks are
minimized. If we were self insured, we would have to look at a
stop-loss policy to protect us from potential catastrophic claims
since they are more common in newborns and the elderly.
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Health Insurance for Early Retirees
Summary
• Similarities among the examples:
The benefit is offered until Medicare eligibility
Relatively low impact on budget evidenced
• Differences among the examples:
Percentage of premium paid by the United Way
Eligibility criteria related to years of service and
age of the retiree
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Retirement Planning Resources
United Way HR Professionals Presenting Today
Contact Information
1.Jane Grady, Vice President Human Resources, United Way of
Massachusetts Bay and Merrimack Valley, Boston MA; 617-624-8202 ;
[email protected]
2.John Roche, Director of Human Resources and Administration, United
Way of the Greater Capital Region, Albany; 518-456-2200 x117;
[email protected]
3.Tamara Calvert, Human Resources Director, United Way of Central
Alabama, Birmingham, AL; 205-251-5131; [email protected]
4.Suzanne Bloomfield, Director Human Resources/EO, United Way of
Greater Cleveland, Cleveland, OH; 216-436-2111;
[email protected]
5.Kennethe Vaughn, Vice President, Talent Management and Diversity,
United Way of Central Indiana, Indianapolis, IN; 317-923-1466;
[email protected]
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Retirement Planning Resources (cont.)
• Two UWRA booklets* – electronic version on UWRA
website (www.UWRA.org) and available in hard copy by
contacting the UWRA office:
1. It’s Never too Early or Too Late to Plan for Your
Retirement
 helpful resources are listed in the back of this
publication and on the UWRA website
2. Choosing a Financial Advisor
* Booklets distributed in 2008 to over 1200 local United Ways for
each of their 20,000 employees and to all UWRA members. This
publication was made possible by a grant from the UWRA
endowment
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Retirement Planning Resources (cont.)
• UWRA Website: www.UWRA.org
–List of helpful resources including Retirement Calculators
–Links to Social Security information: http://www.ssa.gov. Such as:
 Retirement Benefits booklets: http://ssa.gov/pubs/10035.html.
 Retirement Planner: http://www.ssa.gov/retire2/
 Calculators: http://www.ssa.gov/planners/benefitcalculators.htm
 “Normal retirement age" (NRA)*:
http://www.ssa.gov/oact/progdata/nra.html
*To receive full social security retirement benefits one must be of ‘normal
retirement age’, which varies from age 65 to age 67, based on the year of one’s
birth
Anything missing on our website – send us the link!
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Successful Retirement
Multiple Factors and Considerations
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To Avoid This…Tune into next Webinar
on the Retirement Planning Process
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UWRA Webinar Series
1. Planning for Retirement in an Era of Uncertainly!! Archived
Webinar on www.UWRA.org under Retirement section
2. Helping United Way Staff Plan for Retirement – geared to CEOs &
HR professionals (this Webinar will be archived)
3. The Retirement Planning Process, Including Estate Planning –
The process, common misconceptions and personal values
4. Transition into Retirement/Life in Retirement
5. Financial Planning
6. Healthcare Options
7. Understanding Medicare & Social Security
* FYI Archived Webinar by the Heritage Institute on The Elements of
Heritage Planning @ http://www.ustream.tv/recorded/13064292
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QUESTIONS???
•Questions for you…
Have ideas other than those mentioned to
pass along to United Way colleagues? Email
us: [email protected]
Does your United Way involve United Way
staff alumni in any way? Volunteering?
Gatherings? Benefits?
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QUESTIONS???
•Questions for us?
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THE END – Thank You!
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