Next week marks America Saves Week, an opportunity to focus on your savings strategy. University of Illinois System approved 403(b) retirement plan investment companies, TIAA and Fidelity Investments, offer tips and resources to help you get into a saving mindset.
- Set goals you can reach. Start small, and keep goals realistic.
- Utilize automatic deposits (payroll deduction) – set it and forget it.
- Increase your savings by 1% each year. Small increases add up over time.
- Take advantage of catch-up contributions starting the year you turn 50.
- Stay committed to saving. Continued contributions and market growth over time will progress your investments.
Visit TIAA to learn more about the University of Illinois Supplemental 403(b) Retirement Plan, request an appointment with an advisor, and for insights on saving and investing.
Visit Fidelity Investments for information on the University of Illinois Supplemental 403(b) Retirement Plan, access to savings planning tools and resources, and to request an appointment with an advisor.
For questions about the University of Illinois Supplemental 403(b) Retirement Plan, contact University Payroll & Benefits: UPB Service Portal.
The University of Illinois System cannot provide financial or tax advice to employees. You should consult with a legal, financial, or tax professional for assistance with your individual circumstances.