We often hear about interest rates but have you ever wondered what they are and how they affect your finances? An interest rate is reward for saving money or the cost of borrowing it. Interest is calculated as a percentage of the total money that you borrow or save....
Retirement News
Annual retirement Contribution limits
The Internal Revenue Service has announced its annual update to contribution limits for pension and retirement plans for the 2024 tax year. Section 415 requires these limits to be adjusted annually for cost of living increases. The limit on contributions by employees...
How your retirement contributions can affect your taxes
Taking into consideration how taxes will impact saving for retirement and during retirement is important. As you are meeting with your tax professional, it may be a good time to discuss your tax strategy to save money while saving for retirement and also once you...
Are you saving enough for the retirement lifestyle you want?
We often think about saving for retirement but have you sat down and really thought about what you want your life to look like in retirement? This picture looks very different for everyone- there is no one size fits all. It’s important that your retirement plan is...
Give Your Retirement a Raise
As most state employees have been eagerly awaiting budget news from the NC General Assembly for the fiscal year that began on July 1, news finally came at the end of September. A budget has been passed that currently provides state employees a 4 percent salary...
UNC Retirement Plans Moving to Single Recordkeeper
Earlier this spring it was communicated that the UNC System was exploring the option of moving from our current two retirement plan recordkeepers, TIAA and Fidelity, to a single recordkeeper for all of the UNC defined contribution retirement plans. With the assistance...
More About TIAA
TIAA (Teachers Insurance Annuity Association) was initially created in 1918 by Andrew Carnegie and his Carnegie Foundation for the Advancement of Teaching to be a fully funded system of pensions for professors. Through its rich history, TIAA has evolved into a Fortune...
Envisioning the Retirement Lifestyle You Want
The picture of retirement has vastly changed over the years. Many retirees are more active and lead busier lifestyles. It's never too early to start thinking about your retirement years. Creating a vision board is a technique used frequently to visualize your...
Cybersecurity: Prevent Yourself from Being a Target
As technology has rapidly changed in recent years, fraud has become more rampant and high-tech. Courtesy of TIAA, learn the three most common approaches scammers use to try to leave people vulnerable to fraud and what you can do to defend yourself. Phishing - Email...
How to Save Enough to Last a Lifetime
The thought of saving enough money to last through your lifetime can be daunting. With the unknowns of the future and how long your money needs to last, it's important to start planning early. Fidelity offers advice on 3 keys to your retirement income plan and this...