Planning Topics For Academia
Planning Topics For Academia
- I started my savings late due to my education, are there ways for me to catch up?
Yes, there are unique saving options available to employees who work in academia especially those who want to catch-up on savings. More...
- I have been offered an early retirement incentive package. What should I do?
There are many considerations to address before you leave regarding savings, benefits and other perks. It is important to address these questions as soon as possible as they may not be available after your retirement date.
- Our investment choices are confusing because we have multiple vendors and investment tiers. What should I choose?
We will look at the unique options that you have and help select and monitor the right mix for you.
- I plan to work beyond retirement age. What should I be thinking about?
Many professors work beyond “normal” retirement age Understanding ways to access income early or delay income until later is important.
- I think I am saving the maximum; am I missing any opportunities?
Employees of academia have catch-up provisions and additional retirement account options available that many other’s do not.
- How should I address my income from consulting, royalties, summer programs, grants etc.?
You may want to defer more of your regular income to make up for the additional cash flow from these programs.
- We have many different benefits; am I taking advantage of them all?
There are many nuances to benefit plans including grandfathered choices and different options dependent on employee class. We can assist wading through the information.
- I have the option for a defined benefit and a defined contribution plan (often referred to as an ORP); which should I choose? Can I do both?
It is important to address your specific situation because both options have pros and cons depending on the individual.